Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,769,860.64 in Stock

by · The Markets Daily

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $222.68, for a total transaction of $1,769,860.64. Following the completion of the sale, the chief executive officer now directly owns 357,660 shares of the company’s stock, valued at $79,643,728.80. This represents a 2.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

  • On Monday, March 31st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $209.73, for a total transaction of $1,666,934.04.
  • On Friday, March 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $216.63, for a total transaction of $1,721,775.24.
  • On Thursday, March 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $226.93, for a total value 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 transaction 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 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 value 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 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 transaction 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 transaction of $2,509,501.52.

Atlassian Price Performance

NASDAQ:TEAM traded down $25.61 during mid-day trading on Thursday, reaching $198.35. The stock had a trading volume of 3,316,711 shares, compared to its average volume of 1,991,730. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The firm has a 50 day moving average price of $266.94 and a two-hundred day moving average price of $239.70. The stock has a market capitalization of $51.97 billion, a P/E ratio of -148.02 and a beta of 1.07.

Atlassian (NASDAQ:TEAM – Get Free Report) last released its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS 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%. As a group, analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Institutional Trading of Atlassian

Large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company increased its stake in shares of Atlassian by 17.3% during the third quarter. The Manufacturers Life Insurance Company now owns 30,353 shares of the technology company’s stock valued at $4,824,000 after buying an additional 4,479 shares during the period. Townsquare Capital LLC increased its position in Atlassian by 16.0% during the 3rd quarter. Townsquare Capital LLC now owns 1,338 shares of the technology company’s stock valued at $212,000 after purchasing an additional 185 shares during the period. Janus Henderson Group PLC raised its holdings in Atlassian by 4.2% in the 3rd quarter. Janus Henderson Group PLC now owns 15,550 shares of the technology company’s stock worth $2,469,000 after purchasing an additional 624 shares in the last quarter. Investment Management Corp of Ontario increased its position in shares of Atlassian by 50.8% during the third quarter. Investment Management Corp of Ontario now owns 5,341 shares of the technology company’s stock valued at $848,000 after buying an additional 1,800 shares during the period. Finally, PointState Capital LP bought a new position in Atlassian in the third quarter worth about $30,566,000. 94.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TEAM shares. BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $255.00 to $292.00 in a research report on Friday, January 10th. Truist Financial lowered their target price on shares of Atlassian from $350.00 to $300.00 and set a “buy” rating for the company in a report on Monday. Macquarie boosted their price objective on Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Barclays raised their target price on Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Oppenheimer lifted their target price on Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $308.73.

Read Our Latest Stock Analysis on Atlassian

About Atlassian

(Get Free Report)

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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