Michael Cannon-Brookes Sells 7,948 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

by · The Markets Daily

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $176.27, for a total value of $1,400,993.96. Following the completion of the transaction, the chief executive officer now directly owns 453,036 shares of the company’s stock, valued at approximately $79,856,655.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

  • On Tuesday, October 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $159.81, for a total transaction of $1,270,169.88.
  • On Friday, September 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $161.30, for a total value of $1,282,012.40.
  • On Wednesday, September 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $161.98, for a total transaction of $1,287,417.04.
  • On Monday, September 23rd, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $162.27, for a total transaction of $1,289,721.96.
  • On Thursday, September 19th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.56, for a total transaction of $1,299,974.88.
  • On Monday, September 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $165.03, for a total value of $1,311,658.44.
  • On Thursday, September 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $160.97, for a total transaction of $1,279,389.56.
  • 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 stock was sold at an average price of $151.62, for a total value of $1,205,075.76.

Atlassian Trading Up 3.9 %

TEAM stock traded up $6.90 during midday trading on Thursday, hitting $184.00. The stock had a trading volume of 2,055,765 shares, compared to its average volume of 1,775,255. The company’s 50-day moving average price is $158.96 and its 200 day moving average price is $172.04. 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 firm has a market cap of $47.85 billion, a PE ratio of -292.06 and a beta of 0.73. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69.

Atlassian (NASDAQ:TEAM – Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company posted ($0.21) EPS. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. On average, equities research analysts predict that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TEAM. Connectus Wealth LLC purchased a new position in Atlassian in the 4th quarter worth approximately $437,000. Pitcairn Co. lifted its holdings in Atlassian by 9.2% in the 4th quarter. Pitcairn Co. now owns 22,226 shares of the technology company’s stock worth $5,287,000 after buying an additional 1,880 shares in the last quarter. Brown Capital Management LLC grew its stake in shares of Atlassian by 2.2% during the fourth quarter. Brown Capital Management LLC now owns 115,482 shares of the technology company’s stock valued at $27,469,000 after acquiring an additional 2,535 shares in the last quarter. Parkwood LLC purchased a new stake in shares of Atlassian during the fourth quarter worth about $3,793,000. Finally, Profund Advisors LLC increased its position in shares of Atlassian by 15.9% during the fourth quarter. Profund Advisors LLC now owns 21,117 shares of the technology company’s stock worth $5,023,000 after acquiring an additional 2,894 shares during the last quarter. 93.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JMP Securities upgraded Atlassian to a “hold” rating in a research note on Friday, August 2nd. Baird R W cut shares of Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Scotiabank reduced their price target on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Morgan Stanley dropped their price objective on shares of Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company reduced their target price on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $216.35.

Read Our Latest Research Report 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.

See Also