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's stock on October 6th for approximately $1.15 million, reducing his ownership stake by 1.64%.
• Atlassian's stock price recently reached $150.12, down from previous highs, with a market cap of $39.38 billion and a low of $146.16 over the past year.
• The company reported strong earnings results for the previous quarter, with $0.98 EPS, exceeding analysts' expectations, and revenue growth of 22.3% year-over-year.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of the business's stock in a transaction on Monday, October 6th. The shares were sold at an average price of $150.75, for a total transaction of $1,155,498.75. Following the sale, the chief executive officer directly owned 459,900 shares in the company, valued at $69,329,925. This trade represents a 1.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, October 3rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $150.86, for a total value of $1,156,341.90.
• On Wednesday, October 1st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was 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 shares were sold at an average price of $166.36, for a total transaction 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 stock was 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 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 transaction of $1,338,155.70.

Atlassian Price Performance

Shares of Atlassian stock traded down $0.07 on Tuesday, hitting $150.12. The company's stock had a trading volume of 2,924,098 shares, compared to its average volume of 2,413,021. The company has a market capitalization of $39.38 billion, a price-to-earnings ratio of -151.63 and a beta of 0.92. Atlassian Corporation PLC has a 1 year low of $146.16 and a 1 year high of $326.00. The firm has a fifty day moving average price of $170.64 and a 200-day moving average price of $194.64. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.22 and a current ratio of 1.22.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced 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. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. Atlassian had a negative return on equity of 14.77% and a negative net margin of 4.92%.The business's revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the company. Canaccord Genuity Group dropped their price target on Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Zacks Research raised shares of Atlassian from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 20th. Citigroup decreased their price target on shares of Atlassian from $300.00 to $240.00 and set a "buy" rating on the stock in a research note on Monday, August 18th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Atlassian in a research note on Saturday, September 27th. Finally, Wall Street Zen raised shares of Atlassian from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $248.74.

Institutional Trading of Atlassian

A number of institutional investors have recently bought and sold shares of TEAM. Hennion & Walsh Asset Management Inc. increased its position in shares of Atlassian by 10.7% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 2,563 shares of the technology company's stock worth $544,000 after purchasing an additional 247 shares in the last quarter. Gateway Investment Advisers LLC increased its position in Atlassian by 5.3% in the 1st quarter. Gateway Investment Advisers LLC now owns 4,153 shares of the technology company's stock valued at $881,000 after acquiring an additional 210 shares during the period. Sivia Capital Partners LLC acquired a new stake in Atlassian during the 1st quarter worth approximately $312,000. Clean Yield Group raised its stake in shares of Atlassian by 372.0% during the first quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after purchasing an additional 93 shares during the last quarter. Finally, Wedmont Private Capital lifted its holdings in shares of Atlassian by 73.3% during the first quarter. Wedmont Private Capital now owns 1,577 shares of the technology company's stock worth $313,000 after purchasing an additional 667 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

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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