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

Atlassian Co. (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $226.93, for a total transaction of $1,803,639.64. Following the sale, the chief executive officer now directly owns 55,636 shares of the company's stock, valued at $12,625,477.48. This represents a 12.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, March 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $216.90, for a total transaction of $1,723,921.20.
• On Wednesday, March 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $227.55, for a total transaction of $1,808,567.40.
• On Thursday, March 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $259.69, for a total transaction of $2,064,016.12.
• On Thursday, February 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $297.51, for a total transaction of $2,364,609.48.
• On Tuesday, February 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $313.95, for a total value of $2,495,274.60.
• On Friday, February 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $311.90, for a total value of $2,478,981.20.
• On Wednesday, February 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $315.74, for a total value of $2,509,501.52.
• On Monday, February 10th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $322.31, for a total value of $2,561,719.88.
• On Wednesday, February 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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 stock was sold at an average price of $311.20, for a total transaction of $2,473,417.60.

Atlassian Stock Performance

TEAM traded up $1.60 on Tuesday, reaching $236.22. The stock had a trading volume of 1,531,221 shares, compared to its average volume of 1,941,070. The business's 50-day moving average price is $271.21 and its two-hundred day moving average price is $237.32. The company has a market cap of $61.89 billion, a P/E ratio of -176.28 and a beta of 0.91. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81.

Remove Ads

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Sell-side analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Atlassian

Institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its position in shares of Atlassian by 61.4% during the 3rd quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company's stock worth $1,710,000 after purchasing an additional 4,099 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Atlassian by 24.4% in the third quarter. Oppenheimer & Co. Inc. now owns 1,771 shares of the technology company's stock worth $281,000 after acquiring an additional 347 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of Atlassian by 168.1% during the third quarter. Thrivent Financial for Lutherans now owns 10,270 shares of the technology company's stock worth $1,631,000 after purchasing an additional 6,440 shares in the last quarter. Quest Partners LLC raised its stake in Atlassian by 18.3% in the 3rd quarter. Quest Partners LLC now owns 2,135 shares of the technology company's stock valued at $339,000 after purchasing an additional 330 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Atlassian in the 3rd quarter valued at $982,000. Institutional investors and hedge funds own 94.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TEAM. StockNews.com raised shares of Atlassian from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. William Blair reaffirmed an "outperform" rating on shares of Atlassian in a research report on Friday, January 31st. Oppenheimer raised their price target on Atlassian from $300.00 to $380.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Canaccord Genuity Group boosted their price target on Atlassian from $255.00 to $285.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Finally, Scotiabank increased their price objective on shares of Atlassian from $250.00 to $330.00 and gave the company a "sector perform" rating in a research report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $316.77.

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.