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 the business's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $160.97, for a total transaction of $1,279,389.56. Following the transaction, the chief executive officer now directly owns 135,116 shares in the company, valued at $21,749,622.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, August 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $166.36, for a total transaction of $1,322,229.28.
• On Wednesday, August 21st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $156.92, for a total transaction of $1,247,200.16.
• On Friday, August 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $151.62, for a total transaction of $1,205,075.76.
• On Friday, August 9th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $141.23, for a total transaction of $1,122,496.04.
• On Friday, August 2nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $144.73, for a total transaction of $1,150,314.04.
• On Wednesday, July 31st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $177.07, for a total transaction of $1,407,352.36.
• On Friday, July 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $177.65, for a total transaction of $1,411,962.20.
• On Wednesday, July 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $169.47, for a total transaction of $1,346,947.56.
• On Monday, July 22nd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $175.95, for a total transaction of $1,398,450.60.
• On Wednesday, July 17th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $180.42, for a total transaction of $1,433,978.16.

Atlassian Price Performance

TEAM stock traded down $0.59 during midday trading on Friday, reaching $161.31. The company had a trading volume of 1,947,434 shares, compared to its average volume of 1,784,132. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a 50 day moving average price of $165.86 and a 200-day moving average price of $178.87. The company has a market capitalization of $41.95 billion, a price-to-earnings ratio of -257.41 and a beta of 0.73.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The firm had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the previous year, the business posted ($0.21) earnings per share. The business's revenue for the quarter was up 20.5% on a year-over-year basis. Equities research analysts expect that Atlassian Co. will post -0.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TEAM. Piper Sandler raised shares of Atlassian from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $200.00 to $225.00 in a report on Tuesday, July 2nd. The Goldman Sachs Group upgraded shares of Atlassian from a "neutral" rating to a "buy" rating and increased their price target for the company from $200.00 to $230.00 in a research report on Friday, August 2nd. JMP Securities upgraded shares of Atlassian to a "hold" rating in a research report on Friday, August 2nd. Wells Fargo & Company lowered their target price on Atlassian from $285.00 to $250.00 and set an "overweight" rating for the company in a research note on Friday, June 21st. Finally, Morgan Stanley lowered their target price on Atlassian from $245.00 to $225.00 and set an "overweight" rating for the company in a research note on Wednesday, July 17th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $217.69.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. New York Life Investment Management LLC bought a new stake in shares of Atlassian during the fourth quarter worth about $686,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Atlassian by 12,044.4% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,093 shares of the technology company's stock worth $260,000 after purchasing an additional 1,084 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of Atlassian by 3.5% in the fourth quarter. Private Advisor Group LLC now owns 4,056 shares of the technology company's stock worth $965,000 after acquiring an additional 137 shares during the period. Lincoln National Corp lifted its stake in shares of Atlassian by 8.3% in the fourth quarter. Lincoln National Corp now owns 3,133 shares of the technology company's stock worth $745,000 after acquiring an additional 240 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Atlassian by 5.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 518,677 shares of the technology company's stock worth $123,373,000 after acquiring an additional 25,351 shares during the period. Institutional investors own 93.03% 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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