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

by · The Cerbat Gem

Atlassian Corporation PLC (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $161.79, for a total transaction of $1,240,120.35. Following the transaction, the chief executive officer directly owned 107,310 shares of the company’s stock, valued at approximately $17,361,684.90. This represents a 6.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

  • 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 transaction of $1,230,079.20.
  • On Wednesday, December 3rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $155.08, for a total transaction 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.
  • On Wednesday, November 26th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $148.29, for a total transaction of $1,136,642.85.
  • On Monday, November 24th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $146.62, for a total value of $1,123,842.30.
  • On Friday, November 21st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $144.02, for a total value of $1,103,913.30.
  • On Wednesday, November 19th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $147.63, for a total value of $1,131,583.95.
  • On Monday, November 17th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $147.41, for a total value of $1,129,897.65.
  • On Thursday, November 13th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $153.77, for a total value of $1,178,647.05.

Atlassian Stock Performance

NASDAQ:TEAM opened at $163.26 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The firm’s fifty day simple moving average is $155.63 and its 200 day simple moving average is $176.08. The stock has a market cap of $42.96 billion, a P/E ratio of -229.94, a price-to-earnings-growth ratio of 30.51 and a beta of 0.89. Atlassian Corporation PLC has a twelve month low of $139.70 and a twelve month high of $326.00.

Atlassian (NASDAQ:TEAM – Get Free Report) last issued its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.83 by $0.21. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period in the prior year, the business earned $0.77 EPS. The company’s revenue for the quarter was up 20.6% on a year-over-year basis. As a group, research analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Capco Asset Management LLC purchased a new stake in shares of Atlassian during the second quarter valued at approximately $25,000. Physician Wealth Advisors Inc. lifted its position in Atlassian by 60.4% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after acquiring an additional 61 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after purchasing an additional 161 shares during the last quarter. Atlantic Union Bankshares Corp increased its holdings in shares of Atlassian by 19,900.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after purchasing an additional 199 shares in the last quarter. Finally, State of Wyoming raised its stake in shares of Atlassian by 20.3% in the first quarter. State of Wyoming now owns 278 shares of the technology company’s stock worth $59,000 after purchasing an additional 47 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Atlassian in a research report on Wednesday, October 8th. Truist Financial set a $210.00 price objective on Atlassian in a research report on Friday, October 31st. Robert W. Baird set a $230.00 target price on shares of Atlassian in a report on Friday, October 31st. Piper Sandler reiterated an “overweight” rating and issued a $300.00 price target on shares of Atlassian in a research note on Friday, October 31st. Finally, TD Cowen lowered their price target on shares of Atlassian from $220.00 to $205.00 and set a “hold” rating for the company in a research report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $240.00.

Read Our Latest Stock 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.

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