Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,470,606.45 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $178.45, for a total transaction of $1,470,606.45. Following the transaction, the chief executive officer now directly owns 209,871 shares of the company’s stock, valued at $37,451,479.95. The transaction 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 Tuesday, May 14th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $184.26, for a total transaction of $1,518,486.66.
• On Friday, May 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $179.88, for a total transaction of $1,482,391.08.
• On Wednesday, May 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $178.93, for a total transaction of $1,474,562.13.
• On Monday, May 6th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $182.45, for a total transaction of $1,503,570.45.
• On Wednesday, May 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $172.99, for a total transaction of $1,425,610.59.
• On Friday, April 26th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $178.95, for a total transaction of $1,474,726.95.
• On Friday, April 19th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $191.53, for a total transaction of $1,578,398.73.
• On Wednesday, April 17th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $196.26, for a total transaction of $1,617,378.66.
• On Monday, April 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.46, for a total transaction of $1,627,267.86.
• On Wednesday, April 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $201.81, for a total transaction of $1,663,116.21.

Atlassian Trading Down 1.8 %

TEAM stock traded down $3.25 during trading on Wednesday, reaching $174.80. 1,638,072 shares of the stock were exchanged, compared to its average volume of 1,702,064. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.82. The business has a 50 day moving average price of $191.90 and a 200-day moving average price of $206.01. Atlassian Co. has a 1 year low of $156.05 and a 1 year high of $258.69. The firm has a market capitalization of $45.50 billion, a price-to-earnings ratio of -282.62 and a beta of 0.67.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the firm earned ($0.40) earnings per share. Atlassian’s quarterly revenue was up 29.9% compared to the same quarter last year. On average, research analysts predict that Atlassian Co. will post -0.23 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on TEAM. TD Cowen decreased their target price on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a research report on Friday, April 26th. The Goldman Sachs Group raised their price target on shares of Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Oppenheimer decreased their price target on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Canaccord Genuity Group decreased their price target on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a report on Friday, April 26th. Finally, Wells Fargo & Company raised their price target on shares of Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $223.22.

Institutional Investors Weigh In On Atlassian

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Atlassian by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock valued at $3,039,287,000 after acquiring an additional 221,650 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Atlassian by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after purchasing an additional 904,138 shares in the last quarter. WCM Investment Management LLC grew its holdings in shares of Atlassian by 2.7% in the fourth quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock valued at $2,325,490,000 after purchasing an additional 249,017 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of Atlassian by 20.7% in the fourth quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after purchasing an additional 1,511,318 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its holdings in shares of Atlassian by 1.1% in the third quarter. Artisan Partners Limited Partnership now owns 6,048,160 shares of the technology company’s stock valued at $1,218,765,000 after purchasing an additional 63,903 shares in the last quarter. 93.03% of the stock is 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.