Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,996,537.60 in Stock

Atlassian Co. (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $251.20, for a total value of $1,996,537.60. Following the sale, the chief executive officer now directly owns 405,348 shares in the company, valued at approximately $101,823,417.60. The trade was a 1.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Michael Cannon-Brookes also recently made the following trade(s):

• On Monday, January 13th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $236.89, for a total transaction of $1,882,801.72.
• On Friday, January 10th, Michael Cannon-Brookes sold 15,896 shares of Atlassian stock. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80.
• On Wednesday, January 8th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $243.35, for a total transaction of $1,934,145.80.
• On Monday, January 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $254.95, for a total transaction of $2,026,342.60.
• On Thursday, January 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $242.27, for a total value of $1,925,561.96.
• On Monday, December 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $246.97, for a total value of $1,962,917.56.
• On Thursday, December 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.45, for a total value of $2,030,316.60.
• On Tuesday, December 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.25, for a total transaction of $2,028,727.00.
• On Friday, December 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.22, for a total transaction of $2,028,488.56.
• On Monday, December 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.13, for a total value of $2,210,577.24.

Atlassian Trading Up 1.7 %

Shares of Atlassian stock traded up $4.22 on Thursday, reaching $254.25. 1,818,419 shares of the company were exchanged, compared to its average volume of 1,841,281. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $287.97. The firm has a market capitalization of $66.22 billion, a price-to-earnings ratio of -167.27 and a beta of 0.83. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a fifty day moving average price of $255.66 and a 200-day moving average price of $201.07.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company earned ($0.07) EPS. The business's revenue for the quarter was up 21.5% compared to the same quarter last year. On average, analysts expect that Atlassian Co. will post -0.55 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TEAM shares. Robert W. Baird upped their price target on shares of Atlassian from $175.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Canaccord Genuity Group raised their price target on shares of Atlassian from $255.00 to $285.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Jefferies Financial Group boosted their price objective on Atlassian from $280.00 to $300.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. BMO Capital Markets upgraded Atlassian from a "market perform" rating to an "outperform" rating and raised their target price for the company from $255.00 to $292.00 in a research report on Friday, January 10th. Finally, Truist Financial upgraded Atlassian from a "hold" rating to a "buy" rating and boosted their price target for the stock from $250.00 to $300.00 in a research report on Tuesday, January 7th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $270.65.

Hedge Funds Weigh In On Atlassian

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC lifted its holdings in shares of Atlassian by 1,878.3% in the fourth quarter. Harbor Investment Advisory LLC now owns 1,187 shares of the technology company's stock valued at $289,000 after purchasing an additional 1,127 shares in the last quarter. Aaron Wealth Advisors LLC acquired a new position in Atlassian during the fourth quarter valued at $228,000. Hanseatic Management Services Inc. purchased a new stake in Atlassian in the 4th quarter worth about $603,000. HB Wealth Management LLC boosted its position in Atlassian by 17.9% during the 4th quarter. HB Wealth Management LLC now owns 1,502 shares of the technology company's stock worth $366,000 after acquiring an additional 228 shares during the period. Finally, Premier Path Wealth Partners LLC purchased a new position in Atlassian during the 4th quarter valued at about $314,000. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Company Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.

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