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

Key Points

• Atlassian CEO Michael Cannon-Brookes sold 7,665 shares of the company on October 3rd for approximately $1.16 million, representing a 1.61% decrease in his ownership.
• The company's stock traded down to $150.19 recently, with a market capitalization of $39.40 billion and a reported price-to-earnings ratio of -151.71.
• Despite recent stock sales, brokerages maintain a consensus rating of "Moderate Buy" for Atlassian, with an average price target of $248.74.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of the firm's stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $150.86, for a total transaction of $1,156,341.90. Following the completion of the transaction, the chief executive officer directly owned 467,565 shares in the company, valued at $70,536,855.90. This trade represents a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Wednesday, October 1st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $152.50, for a total transaction of $1,168,912.50.
• 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 shares were 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 stock was 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 stock was sold at an average price of $169.32, for a total transaction 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 transaction of $1,330,337.40.
• On Friday, September 12th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $175.17, for a total transaction of $1,342,678.05.
• On Monday, September 15th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was 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.

Atlassian Stock Performance

NASDAQ TEAM traded down $0.30 during trading on Monday, hitting $150.19. 3,913,795 shares of the company's stock traded hands, compared to its average volume of 2,484,930. The business has a 50 day moving average of $170.64 and a 200-day moving average of $194.64. Atlassian Corporation PLC has a 12-month low of $147.40 and a 12-month high of $326.00. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market capitalization of $39.40 billion, a price-to-earnings ratio of -151.71 and a beta of 0.92.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter in the previous year, the firm posted $0.66 EPS. The business's revenue for the quarter was up 22.3% compared to the same quarter last year. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, equities research analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TEAM. UBS Group restated a "hold" rating on shares of Atlassian in a research note on Monday, July 7th. Barclays lowered their price target on Atlassian from $244.00 to $215.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Truist Financial set a $230.00 price objective on Atlassian in a research report on Friday, August 8th. Oppenheimer dropped their target price on Atlassian from $300.00 to $275.00 and set an "outperform" rating for the company in a research report on Monday, July 21st. Finally, Bank of America started coverage on shares of Atlassian in a report on Tuesday, September 23rd. They set a "neutral" rating and a $200.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $248.74.

Hedge Funds Weigh In On Atlassian

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in Atlassian by 2.6% during the second quarter. Vanguard Group Inc. now owns 17,430,078 shares of the technology company's stock valued at $3,539,875,000 after buying an additional 436,541 shares during the period. Baillie Gifford & Co. increased its stake in shares of Atlassian by 7.1% in the first quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company's stock worth $1,845,114,000 after purchasing an additional 573,696 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of Atlassian by 66.3% during the 2nd quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company's stock valued at $787,610,000 after purchasing an additional 1,545,546 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Atlassian by 21.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,440,813 shares of the technology company's stock valued at $730,175,000 after buying an additional 616,071 shares in the last quarter. Finally, Voya Investment Management LLC boosted its holdings in Atlassian by 24.1% in the 1st quarter. Voya Investment Management LLC now owns 2,695,889 shares of the technology company's stock worth $571,894,000 after buying an additional 523,035 shares during the period. 94.45% of the stock is owned by institutional investors.

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.

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