Key Points
- Michael Cannon-Brookes sold eleven identical blocks of 7,665 shares between Dec. 15 and Jan. 9 — about 84,315 shares for roughly $13.4 million in proceeds; his latest sale on Jan. 9 was 7,665 shares at an average $145.91, leaving him with 421,575 shares (~$61.5M).
- Atlassian shares trade around $146 with a market cap near $38.5B and a consensus analyst rating of Moderate Buy (target $238.46); the company recently beat EPS and grew revenue 20.6% but still shows a negative net margin and return on equity.
Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction on Friday, January 9th. The shares were sold at an average price of $145.91, for a total value of $1,118,400.15. Following the sale, the chief executive officer directly owned 421,575 shares in the company, valued at approximately $61,512,008.25. The trade was a 1.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Michael Cannon-Brookes also recently made the following trade(s):
- On Wednesday, January 7th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.11, for a total transaction of $1,234,908.15.
- On Monday, January 5th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $154.20, for a total transaction of $1,181,943.00.
- On Friday, January 2nd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $156.15, for a total transaction of $1,196,889.75.
- On Wednesday, December 31st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.68, for a total transaction of $1,246,942.20.
- 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 shares were sold at an average price of $162.53, for a total value of $1,245,792.45.
- On Friday, December 19th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was 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 stock was sold at an average price of $158.92, for a total value of $1,218,121.80.
Atlassian Stock Up 0.0%
TEAM opened at $146.44 on Tuesday. 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 stock has a market capitalization of $38.53 billion, a price-to-earnings ratio of -206.25, a price-to-earnings-growth ratio of 22.67 and a beta of 0.88. The business has a 50-day moving average of $156.31 and a two-hundred day moving average of $168.73. Atlassian Corporation PLC has a 12 month low of $139.70 and a 12 month high of $326.00.
Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 EPS 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 company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the company posted $0.77 EPS. The company's quarterly revenue was up 20.6% compared to the same quarter last year. On average, research analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.
Institutional Trading of Atlassian
A number of hedge funds have recently made changes to their positions in the company. Capco Asset Management LLC purchased a new position in shares of Atlassian in the second quarter valued at $25,000. Physician Wealth Advisors Inc. boosted its holdings in Atlassian by 60.4% in the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company's stock valued at $26,000 after purchasing an additional 61 shares during the last quarter. Geneos Wealth Management Inc. grew 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 in the last quarter. Atlantic Union Bankshares Corp increased its holdings in Atlassian by 19,900.0% during 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 during the last quarter. Finally, Board of the Pension Protection Fund acquired a new position in shares of Atlassian in the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 94.45% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on TEAM. Zacks Research raised shares of Atlassian from a "strong sell" rating to a "hold" rating in a research note on Monday, November 3rd. Weiss Ratings reiterated a "sell (e+)" rating on shares of Atlassian in a report on Wednesday, October 8th. Citigroup reissued a "buy" rating on shares of Atlassian in a research report on Wednesday, October 22nd. Bank of America initiated coverage on shares of Atlassian in a research report on Tuesday, September 23rd. They set a "neutral" rating and a $200.00 price target on the stock. Finally, Truist Financial set a $210.00 price objective on shares of Atlassian in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $238.46.
Read Our Latest Analysis on Atlassian
About Atlassian
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
