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

Key Points

• Michael Cannon-Brookes, CEO of Atlassian, sold 7,665 shares at an average price of $147.81 on October 13th, reducing his stake by 1.79% to about 421,575 shares valued at approximately $62.3 million.
• Atlassian's stock recently hit $156.37 after trading up by $6.98, with a notable 52-week low of $144.32 and a high of $326.00.
• Despite a negative net margin of 4.92%, Atlassian reported a revenue increase of 22.3% year-over-year, with a quarterly revenue of $1.38 billion.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $147.81, for a total value of $1,132,963.65. Following the completion of the transaction, the chief executive officer owned 421,575 shares in the company, valued at approximately $62,313,000.75. The trade was a 1.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

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

• On Friday, October 10th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $145.85, for a total value of $1,117,940.25.
• On Wednesday, October 8th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $150.93, for a total value of $1,156,878.45.
• On Monday, October 6th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $150.75, for a total value of $1,155,498.75.
• 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 shares were sold at an average price of $152.50, for a total value 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 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 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 shares were sold at an average price of $169.32, for a total value of $1,297,837.80.

Atlassian Price Performance

Atlassian stock traded up $6.98 during midday trading on Tuesday, hitting $156.37. 3,905,106 shares of the company's stock were exchanged, compared to its average volume of 2,420,688. Atlassian Corporation PLC has a 52-week low of $144.32 and a 52-week high of $326.00. The stock has a 50-day moving average price of $166.31 and a two-hundred day moving average price of $191.84. 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 company has a market cap of $41.02 billion, a P/E ratio of -157.95 and a beta of 0.92.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 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 firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the firm earned $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. On average, equities research analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on TEAM shares. Wells Fargo & Company started coverage on Atlassian in a report on Tuesday, September 30th. They set an "overweight" rating and a $216.00 price target on the stock. Zacks Research downgraded Atlassian from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 7th. Mizuho reduced their price target on Atlassian from $265.00 to $235.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. BMO Capital Markets reduced their target price on Atlassian from $225.00 to $200.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Finally, Citigroup reduced their target price on Atlassian from $300.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $248.74.

Institutional Trading of Atlassian

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Atlassian by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 17,430,078 shares of the technology company's stock worth $3,539,875,000 after buying an additional 436,541 shares during the last quarter. Baillie Gifford & Co. lifted its position in Atlassian by 7.1% in the 1st quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company's stock valued at $1,845,114,000 after acquiring an additional 573,696 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in Atlassian by 66.3% in 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 acquiring an additional 1,545,546 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Atlassian by 21.8% in 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 acquiring an additional 616,071 shares in the last quarter. Finally, Voya Investment Management LLC lifted its position 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 valued at $571,894,000 after acquiring an additional 523,035 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

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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