Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells 8,241 Shares of Stock (2024)

Posted by ABMN Staff on May 31st, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 8,241 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $165.51, for a total value of $1,363,967.91. Following the completion of the transaction, the chief executive officer now owns 176,907 shares in the company, valued at $29,279,877.57. The sale 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 Tuesday, May 21st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $178.45, for a total transaction of $1,470,606.45.
On Tuesday, May 14th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $184.26, for a total transaction of $1,518,486.66.
On Friday, May 10th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $179.88, for a total transaction of $1,482,391.08.
On Wednesday, May 8th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $178.93, for a total transaction of $1,474,562.13.
On Monday, May 6th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $182.45, for a total value of $1,503,570.45.
On Wednesday, May 1st, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $172.99, for a total value of $1,425,610.59.
On Friday, April 26th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $178.95, for a total value of $1,474,726.95.
On Friday, April 19th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $191.53, for a total transaction of $1,578,398.73.
On Wednesday, April 17th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $196.26, for a total transaction of $1,617,378.66.
On Monday, April 15th, Michael Cannon-Brookes sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.46, for a total transaction of $1,627,267.86.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $160.39 on Friday. Atlassian Co. has a 1 year low of $156.44 and a 1 year high of $258.69. The stock has a market capitalization of $41.75 billion, a P/E ratio of -254.59 and a beta of 0.67. The company’s 50-day moving average is $186.83 and its 200 day moving average is $205.27. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM – Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The business’s revenue was up 29.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.40) earnings per share. On average, sell-side analysts expect that Atlassian Co. will post -0.23 earnings per share for the current year.

Hedge Funds Weigh In On Atlassian

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Atlassian by 12.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,263 shares of the technology company’s stock worth $14,763,000 after purchasing an additional 8,073 shares during the last quarter. Arkadios Wealth Advisors bought a new position in Atlassian during the 4th quarter valued at about $202,000. American Century Companies Inc. lifted its stake in Atlassian by 58.7% during the 3rd quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock valued at $86,672,000 after acquiring an additional 159,102 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Atlassian during the 4th quarter valued at about $13,805,000. Finally, Royal Bank of Canada grew its stake in shares of Atlassian by 17.3% in the third quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock worth $76,862,000 after acquiring an additional 56,149 shares during the period. 93.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TEAM. William Blair restated an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. Canaccord Genuity Group dropped their target price on Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a report on Friday, April 26th. Barclays upgraded Atlassian from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $235.00 to $275.00 in a research report on Thursday, April 11th. Robert W. Baird dropped their price objective on Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Finally, Mizuho cut their target price on shares of Atlassian from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Eleven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Atlassian has an average rating of “Hold” and a consensus target price of $223.22.

Check Out Our Latest Research Report on TEAM

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.

You might be interested in:

Janney Montgomery Scott LLC Has $895,000 Holdings in Campbell Soup