Insider Selling: Atlassian (NASDAQ:TEAM) CEO Sells 7,665 Shares of Stock

Key Points

• Michael Cannon-Brookes, CEO of Atlassian, sold a total of 7,665 shares at an average price of $171.59, amounting to over $1.3 million, resulting in a 5.88% decline in his ownership of the company.
• Atlassian's shares have experienced a 5.6% increase in trading, reaching $182.36, with a notable trading volume of 3.6 million shares on a recent Tuesday.
• Atlassian reported quarterly earnings of $0.98 per share, which surpassed analysts' expectations of $0.83, and recorded a 22.3% revenue increase compared to the same quarter the previous year.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction on Monday, September 8th. The stock was sold at an average price of $171.59, for a total transaction of $1,315,237.35. Following the sale, the chief executive officer directly owned 114,975 shares of the company's stock, valued at approximately $19,728,560.25. This trade represents a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Wednesday, September 10th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $175.76, for a total transaction of $1,347,200.40.
• On Friday, September 5th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $171.90, for a total transaction of $1,317,613.50.
• On Wednesday, September 3rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $171.14, for a total transaction of $1,311,788.10.
• On Friday, August 29th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $177.83, for a total transaction of $1,363,066.95.
• On Wednesday, August 27th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $171.13, for a total transaction of $1,311,711.45.
• On Monday, August 25th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $169.40, for a total transaction of $1,298,451.00.
• On Friday, August 22nd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $169.73, for a total transaction of $1,300,980.45.
• On Wednesday, August 20th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $166.30, for a total transaction of $1,274,689.50.
• On Thursday, August 14th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $163.26, for a total transaction of $1,251,387.90.
• On Monday, August 11th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.51, for a total transaction of $1,253,304.15.

Atlassian Stock Down 1.0%

TEAM stock traded down $1.84 during mid-day trading on Friday, hitting $174.87. 1,384,713 shares of the company were exchanged, compared to its average volume of 2,386,424. The firm has a fifty day simple moving average of $183.14 and a 200 day simple moving average of $204.92. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73. Atlassian Corporation PLC has a twelve month low of $154.07 and a twelve month high of $326.00. The company has a market capitalization of $45.87 billion, a PE ratio of -176.63 and a beta of 0.95.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.15. Atlassian had a negative net margin of 4.92% and a negative return on equity of 14.77%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the firm posted $0.66 EPS. The company's revenue for the quarter was up 22.3% on a year-over-year basis. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. On average, research analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Institutional Trading of Atlassian

Several institutional investors have recently made changes to their positions in the stock. Benjamin Edwards Inc. acquired a new stake in shares of Atlassian in the fourth quarter worth $276,000. Cetera Investment Advisers increased its holdings in Atlassian by 11.3% in the 4th quarter. Cetera Investment Advisers now owns 20,639 shares of the technology company's stock valued at $5,023,000 after buying an additional 2,091 shares during the period. Focus Partners Wealth bought a new stake in Atlassian in the 4th quarter valued at $756,000. Gotham Asset Management LLC increased its holdings in Atlassian by 17.0% in the 4th quarter. Gotham Asset Management LLC now owns 20,142 shares of the technology company's stock valued at $4,902,000 after buying an additional 2,926 shares during the period. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Atlassian in the 4th quarter worth about $1,702,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Mizuho cut their price objective on shares of Atlassian from $265.00 to $235.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. UBS Group restated a "hold" rating on shares of Atlassian in a research report on Monday, July 7th. Citigroup dropped their price target on shares of Atlassian from $300.00 to $240.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. Canaccord Genuity Group dropped their price target on shares of Atlassian from $255.00 to $230.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Finally, Raymond James Financial dropped their price target on shares of Atlassian from $300.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Atlassian currently has a consensus rating of "Moderate Buy" and an average target price of $255.45.

Atlassian Company Profile

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.