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

Posted by Tech Dows on Jan 6th, 2025

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $242.27, for a total transaction of $1,925,561.96. Following the completion of the transaction, the chief executive officer now owns 476,880 shares in the company, valued at approximately $115,533,717.60. The trade was a 1.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

On Monday, December 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $246.97, for a total transaction of $1,962,917.56.
On Thursday, December 26th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.45, for a total value of $2,030,316.60.
On Tuesday, December 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.25, for a total value of $2,028,727.00.
On Friday, December 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.22, for a total value of $2,028,488.56.
On Monday, December 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.13, for a total value of $2,210,577.24.
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 transaction 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 transaction of $2,215,822.92.
On Friday, November 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $264.32, for a total value of $2,100,815.36.
On Wednesday, November 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $261.73, for a total value of $2,080,230.04.
On Monday, November 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $239.19, for a total value of $1,901,082.12.

Atlassian Stock Up 3.3 %

Shares of NASDAQ TEAM opened at $250.27 on Monday. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $287.97. The firm has a market capitalization of $65.18 billion, a price-to-earnings ratio of -164.65 and a beta of 0.83. The stock has a 50 day moving average price of $249.33 and a 200 day moving average price of $196.59. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM – Get Free Report) last posted its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm posted ($0.07) EPS. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. Sell-side analysts expect that Atlassian Co. will post -0.54 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on TEAM shares. Raymond James boosted their price target on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company boosted their target price on Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Morgan Stanley raised their price target on Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Scotiabank lifted their price target on Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Finally, Robert W. Baird upped their price objective on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $258.00.

Read Our Latest Analysis on TEAM

Hedge Funds Weigh In On Atlassian

Several institutional investors and hedge funds have recently bought and sold shares of TEAM. Dragoneer Investment Group LLC acquired a new stake in Atlassian in the 2nd quarter worth approximately $469,803,000. Point72 Asset Management L.P. raised its holdings in shares of Atlassian by 760.5% in the third quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after buying an additional 617,566 shares during the last quarter. Two Sigma Advisers LP lifted its stake in shares of Atlassian by 122.0% during the third quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock worth $159,382,000 after buying an additional 551,500 shares during the period. Westfield Capital Management Co. LP purchased a new stake in shares of Atlassian during the third quarter valued at $57,149,000. Finally, Parnassus Investments LLC increased its position in shares of 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 acquiring an additional 245,286 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Company Profile

(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.