Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,721,775.24 in Stock

Atlassian Co. (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $216.63, for a total transaction of $1,721,775.24. Following the sale, the chief executive officer now owns 7,948 shares in the company, valued at $1,721,775.24. The trade was a 50.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, April 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $222.68, for a total value of $1,769,860.64.
• On Monday, March 31st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $209.73, for a total transaction of $1,666,934.04.
• On Thursday, March 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $226.93, for a total transaction of $1,803,639.64.
• 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 value of $1,723,921.20.
• On Wednesday, March 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $227.55, for a total value of $1,808,567.40.
• On Thursday, March 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were 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 stock was sold at an average price of $297.51, for a total value 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 transaction of $2,495,274.60.
• On Friday, February 14th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $311.90, for a total transaction of $2,478,981.20.
• 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.

Atlassian Trading Down 6.0 %

Shares of TEAM stock traded down $11.99 on Friday, hitting $186.36. 458,112 shares of the company's stock traded hands, compared to its average volume of 2,216,408. The company's fifty day simple moving average is $265.59 and its 200 day simple moving average is $239.42. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The stock has a market capitalization of $48.83 billion, a price-to-earnings ratio of -138.56 and a beta of 1.07.

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Atlassian (NASDAQ:TEAM - Get Free Report) last released 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 net margin of 7.22% and a negative return on equity of 17.37%. Equities analysts forecast that Atlassian Co. will post -0.34 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TEAM. Cantor Fitzgerald raised Atlassian from a "neutral" rating to an "overweight" rating and dropped their price target for the stock from $304.00 to $272.00 in a research note on Wednesday. BMO Capital Markets raised shares of Atlassian from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $255.00 to $292.00 in a research note on Friday, January 10th. UBS Group lowered their target price on shares of Atlassian from $330.00 to $230.00 and set a "neutral" rating on the stock in a report on Tuesday. Jefferies Financial Group decreased their price target on Atlassian from $400.00 to $330.00 and set a "buy" rating for the company in a report on Monday. Finally, Canaccord Genuity Group lifted their price objective on shares of Atlassian from $255.00 to $285.00 and gave the stock a "buy" rating in a report on Friday, December 20th. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Atlassian presently has a consensus rating of "Moderate Buy" and an average price target of $308.73.

Institutional Trading of Atlassian

A number of institutional investors have recently modified their holdings of the company. Murphy & Mullick Capital Management Corp purchased a new position in shares of Atlassian in the 4th quarter valued at approximately $27,000. Colonial Trust Co SC raised its holdings in Atlassian by 100.0% in the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after purchasing an additional 69 shares during the period. True Wealth Design LLC increased its stake in Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company's stock worth $37,000 after buying an additional 231 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Atlassian during the fourth quarter valued at approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Atlassian during the 4th quarter valued at about $39,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

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.