Atlassian (NASDAQ:TEAM) CEO Michael Cannon-Brookes Sells 7,665 Shares

by · The Cerbat Gem

Atlassian Corporation PLC (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of the company’s stock in a transaction on Friday, December 26th. The shares were sold at an average price of $162.53, for a total value of $1,245,792.45. Following the completion of the transaction, the chief executive officer directly owned 22,995 shares in the company, valued at $3,737,377.35. This represents a 25.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

  • On Friday, December 19th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.40, for a total value of $1,244,796.00.
  • On Tuesday, December 23rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $161.30, for a total transaction of $1,236,364.50.
  • On Wednesday, December 17th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.16, for a total transaction of $1,250,621.40.
  • On Monday, December 15th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $158.92, for a total transaction of $1,218,121.80.
  • On Friday, December 12th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.11, for a total transaction of $1,242,573.15.
  • On Wednesday, December 10th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.79, for a total value of $1,240,120.35.
  • On Monday, December 8th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $160.70, for a total value of $1,231,765.50.
  • On Friday, December 5th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.48, for a total value of $1,230,079.20.
  • On Wednesday, December 3rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $155.08, for a total value of $1,188,688.20.
  • On Friday, November 28th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $150.12, for a total transaction of $1,150,669.80.

Atlassian Stock Up 0.5%

TEAM stock traded up $0.84 during midday trading on Monday, reaching $163.99. The company had a trading volume of 1,236,023 shares, compared to its average volume of 2,474,800. The company has a 50 day moving average of $158.22 and a two-hundred day moving average of $171.86. The company has a market capitalization of $43.15 billion, a P/E ratio of -230.97, a PEG ratio of 25.27 and a beta of 0.89. Atlassian Corporation PLC has a 1 year low of $139.70 and a 1 year high of $326.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72.

Atlassian (NASDAQ:TEAM – Get Free Report) last released its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.21. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the firm earned $0.77 earnings per share. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. On average, equities research analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TEAM shares. UBS Group reduced their target price on shares of Atlassian from $215.00 to $185.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Piper Sandler reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Atlassian in a report on Friday, October 31st. Cowen reiterated a “hold” rating on shares of Atlassian in a research report on Monday, October 27th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $230.00 price target on shares of Atlassian in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Atlassian in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $239.23.

Check Out Our Latest Research Report on Atlassian

Hedge Funds Weigh In On Atlassian

Several institutional investors have recently modified their holdings of TEAM. Vanguard Group Inc. increased its stake in Atlassian by 6.0% in the third quarter. Vanguard Group Inc. now owns 18,479,561 shares of the technology company’s stock valued at $2,951,186,000 after purchasing an additional 1,049,483 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of Atlassian by 66.3% in the 2nd quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company’s stock valued at $787,610,000 after buying an additional 1,545,546 shares during the period. State Street Corp increased its position in shares of Atlassian by 1.9% in the 3rd quarter. State Street Corp now owns 3,867,995 shares of the technology company’s stock valued at $617,719,000 after buying an additional 73,014 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Atlassian by 18.7% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,867,886 shares of the technology company’s stock worth $458,001,000 after buying an additional 451,706 shares during the period. Finally, DNB Asset Management AS raised its stake in Atlassian by 266.6% during the 3rd quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company’s stock worth $448,260,000 after buying an additional 2,041,210 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Company Profile

(Get Free Report)

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.

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