Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes Sells 7,948 Shares

Atlassian Co. (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $311.90, for a total value of $2,478,981.20. Following the sale, the chief executive officer now directly owns 238,440 shares of the company's stock, valued at approximately $74,369,436. The trade was a 3.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, February 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $315.74, for a total transaction of $2,509,501.52.
• On Monday, February 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $322.31, for a total transaction of $2,561,719.88.
• On Wednesday, February 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $318.91, for a total transaction of $2,534,696.68.
• On Monday, February 3rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $311.20, for a total value of $2,473,417.60.
• On Monday, January 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $269.01, for a total value of $2,138,091.48.
• On Thursday, January 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $265.33, for a total value of $2,108,842.84.
• On Wednesday, January 15th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $251.20, for a total value of $1,996,537.60.
• 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 shares were sold at an average price of $243.35, for a total transaction of $1,934,145.80.

Atlassian Trading Up 0.7 %

Shares of TEAM stock traded up $2.34 during mid-day trading on Tuesday, hitting $315.44. The company's stock had a trading volume of 2,265,744 shares, compared to its average volume of 2,068,581. The company has a market cap of $82.65 billion, a PE ratio of -235.40 and a beta of 0.87. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.18 and a current ratio of 1.24. The company's fifty day simple moving average is $270.89 and its 200-day simple moving average is $219.37. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, equities research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlassian

Several institutional investors have recently made changes to their positions in TEAM. Vise Technologies Inc. grew its stake in shares of Atlassian by 40.9% in the 4th quarter. Vise Technologies Inc. now owns 1,784 shares of the technology company's stock valued at $434,000 after buying an additional 518 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Atlassian by 19.6% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 111,681 shares of the technology company's stock worth $27,181,000 after acquiring an additional 18,267 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Atlassian by 13.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,373,394 shares of the technology company's stock valued at $334,257,000 after acquiring an additional 163,043 shares during the period. Voloridge Investment Management LLC increased its holdings in shares of Atlassian by 210.6% during the fourth quarter. Voloridge Investment Management LLC now owns 573,519 shares of the technology company's stock valued at $139,583,000 after acquiring an additional 388,870 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC raised its position in shares of Atlassian by 1.7% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 252,919 shares of the technology company's stock worth $61,555,000 after purchasing an additional 4,308 shares during the period. Institutional investors and hedge funds own 94.45% of the company's stock.

Wall Street Analysts Forecast Growth

TEAM has been the topic of a number of research analyst reports. Raymond James reaffirmed an "outperform" rating and issued a $330.00 target price (up previously from $250.00) on shares of Atlassian in a report on Friday, January 31st. Wells Fargo & Company lifted their target price on Atlassian from $350.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Jefferies Financial Group raised their price target on shares of Atlassian from $300.00 to $325.00 and gave the company a "buy" rating in a research note on Friday, January 24th. The Goldman Sachs Group raised their target price on shares of Atlassian from $245.00 to $370.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Finally, Morgan Stanley upped their price target on shares of Atlassian from $315.00 to $370.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $319.71.

About Atlassian

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.