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

Atlassian Co. (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $278.13, for a total transaction of $2,210,577.24. Following the sale, the chief executive officer now owns 79,480 shares of the company’s stock, valued at $22,105,772.40. The trade was a 9.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Thursday, December 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.20, for a total value of $2,211,133.60.
• On Thursday, December 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.79, for a total value of $2,215,822.92.
• On Friday, November 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $264.32, for a total transaction of $2,100,815.36.
• On Wednesday, November 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $261.73, for a total transaction of $2,080,230.04.
• On Monday, November 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $239.19, for a total transaction of $1,901,082.12.
• On Wednesday, November 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $224.33, for a total value of $1,782,974.84.
• On Friday, November 1st, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $222.72, for a total value of $1,770,178.56.
• On Wednesday, October 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $192.56, for a total value of $1,530,466.88.
• On Monday, October 28th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $188.64, for a total value of $1,499,310.72.
• On Friday, October 25th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $189.75, for a total transaction of $1,508,133.00.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $251.23 on Friday. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $287.97. The stock has a 50 day moving average of $236.14 and a 200-day moving average of $189.41. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $65.43 billion, a P/E ratio of -165.28 and a beta of 0.80.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.64 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.07) earnings per share. As a group, equities research analysts predict that Atlassian Co. will post -0.54 EPS for the current year.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of research reports. Macquarie began coverage on Atlassian in a report on Thursday, December 12th. They set a “neutral” rating and a $290.00 target price for the company. Wells Fargo & Company lifted their target price on Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. UBS Group boosted their target price on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Robert W. Baird lifted their price objective on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Canaccord Genuity Group boosted their price objective on shares of Atlassian from $225.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Ten research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $256.50.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TEAM. Virtu Financial LLC bought a new stake in shares of Atlassian during the third quarter worth approximately $606,000. Sequoia Financial Advisors LLC lifted its holdings in Atlassian by 37.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock worth $306,000 after purchasing an additional 520 shares during the last quarter. Paloma Partners Management Co bought a new stake in Atlassian in the 3rd quarter valued at $1,588,000. Impax Asset Management Group plc grew its holdings in Atlassian by 590.6% in the 3rd quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock valued at $5,940,000 after buying an additional 31,986 shares in the last quarter. Finally, Parnassus Investments LLC grew its holdings in Atlassian by 322.9% in the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after buying an additional 245,286 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

About Atlassian

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.