Atlassian (NASDAQ:TEAM) CEO Michael Cannon-Brookes Sells 7,665 Shares

Key Points

• Atlassian CEO Michael Cannon-Brookes sold 7,665 shares on October 1st at an average price of $152.50, resulting in a total value of $1,168,912.50.
• Following this transaction, Cannon-Brookes owns 482,895 shares in the company, valued at approximately $73.64 million, reflecting a 1.56% decrease in his position.
• Atlassian's stock has recently traded around $151.05, with analysts predicting a consensus price target of $248.74 for the company's stock.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $152.50, for a total value of $1,168,912.50. Following the completion of the sale, the chief executive officer owned 482,895 shares in the company, valued at $73,641,487.50. This trade represents a 1.56% decrease in their position. 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 Monday, September 29th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $166.36, for a total value of $1,275,149.40.
• On Friday, September 26th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $165.26, for a total value of $1,266,717.90.
• On Wednesday, September 24th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $165.09, for a total value of $1,265,414.85.
• On Monday, September 22nd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $170.20, for a total value of $1,304,583.00.
• On Friday, September 19th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $169.32, for a total value of $1,297,837.80.
• On Wednesday, September 17th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $173.56, for a total value of $1,330,337.40.
• On Friday, September 12th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $175.17, for a total value of $1,342,678.05.
• On Monday, September 15th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $174.58, for a total value of $1,338,155.70.
• 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 value of $1,347,200.40.
• On Monday, September 8th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $171.59, for a total value of $1,315,237.35.

Atlassian Price Performance

NASDAQ TEAM traded up $1.48 during trading hours on Thursday, reaching $151.05. 3,482,063 shares of the stock traded hands, compared to its average volume of 2,396,862. The stock has a 50 day simple moving average of $173.70 and a two-hundred day simple moving average of $196.59. Atlassian Corporation PLC has a 1 year low of $147.40 and a 1 year high of $326.00. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market cap of $39.62 billion, a price-to-earnings ratio of -152.57 and a beta of 0.92.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.15. Atlassian had a negative return on equity of 14.77% and a negative net margin of 4.92%.The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the business posted $0.66 earnings per share. 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, analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Institutional Trading of Atlassian

Institutional investors and hedge funds have recently bought and sold shares of the stock. Clean Yield Group lifted its holdings in Atlassian by 372.0% in the first quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after buying an additional 93 shares during the period. Capco Asset Management LLC purchased a new stake in Atlassian in the second quarter worth about $25,000. Smithfield Trust Co lifted its holdings in Atlassian by 90.7% in the first quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock worth $34,000 after buying an additional 78 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Atlassian by 447.2% in the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock worth $42,000 after buying an additional 161 shares during the period. Finally, First Horizon Advisors Inc. lifted its holdings in Atlassian by 25.9% in the first quarter. First Horizon Advisors Inc. now owns 267 shares of the technology company's stock worth $57,000 after buying an additional 55 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TEAM has been the topic of a number of recent research reports. Mizuho reduced their price objective on Atlassian from $265.00 to $235.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Wells Fargo & Company initiated coverage on Atlassian in a research note on Tuesday. They set an "overweight" rating and a $216.00 price objective on the stock. Canaccord Genuity Group cut their target price on Atlassian from $255.00 to $230.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. UBS Group reissued a "hold" rating on shares of Atlassian in a research note on Monday, July 7th. Finally, Bank of America initiated coverage on Atlassian in a research note on Tuesday, September 23rd. They issued a "neutral" rating and a $200.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $248.74.

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.

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