Atlassian (NASDAQ:TEAM) CEO Sells $1,246,942.20 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,665 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $162.68, for a total transaction of $1,246,942.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, December 29th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $163.66, for a total transaction of $1,254,453.90.
• On Friday, December 26th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.53, for a total transaction of $1,245,792.45.
• On Friday, December 19th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were 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 value 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 value of $1,250,621.40.
• On Monday, December 15th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $158.92, for a total value of $1,218,121.80.
• On Friday, December 12th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.11, for a total value 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 shares were sold at an average price of $160.70, for a total transaction of $1,231,765.50.
• On Friday, December 5th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $160.48, for a total transaction of $1,230,079.20.

Atlassian Stock Down 0.5%

NASDAQ TEAM traded down $0.79 during trading hours on Wednesday, reaching $162.14. 1,364,002 shares of the company’s stock traded hands, compared to its average volume of 2,465,209. Atlassian Corporation PLC has a 52-week low of $139.70 and a 52-week high of $326.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a 50-day simple moving average of $158.21 and a 200 day simple moving average of $171.38. The firm has a market cap of $42.66 billion, a PE ratio of -228.36, a PEG ratio of 25.40 and a beta of 0.89.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.40 billion. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 earnings per share. Sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Analyst Ratings Changes

TEAM has been the subject of several analyst reports. Wells Fargo & Company initiated coverage on Atlassian in a report on Tuesday, September 30th. They set an “overweight” rating and a $216.00 price target for the company. Wall Street Zen raised shares of Atlassian from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Guggenheim started coverage on shares of Atlassian in a research note on Thursday, September 11th. They issued a “buy” rating and a $225.00 target price on the stock. Sanford C. Bernstein raised their price target on shares of Atlassian from $290.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, November 18th. Finally, BTIG Research initiated coverage on Atlassian in a research report on Tuesday, December 16th. They issued a “buy” rating and a $220.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.23.

Hedge Funds Weigh In On Atlassian

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

About Atlassian

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.