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

Key Points

• Michael Cannon‑Brookes sold 7,665 shares on Feb. 2 at an average price of $116.40 (~$892,206), leaving him with 306,600 shares and continuing a string of identical block sales through January that trimmed his position by about 2.44%.
• Atlassian stock dropped 7.7% to $105 on heavy volume (~7.65M shares vs a 4.92M average), trading near its 52‑week low while its 50‑ and 200‑day moving averages sit around $148 and $161 respectively.
• Outlook mixed but constructive: the company announced a multi‑year partnership with Anthropic to integrate Claude AI and analysts maintain a consensus "Moderate Buy" with a $227.60 price target despite recent insider sales and volatility.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $116.40, for a total value of $892,206.00. Following the transaction, the chief executive officer directly owned 306,600 shares in the company, valued at approximately $35,688,240. This trade represents a 2.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Friday, January 30th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $119.15, for a total transaction of $913,284.75.
• On Wednesday, January 28th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $135.44, for a total transaction of $1,038,147.60.
• On Monday, January 26th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $136.93, for a total transaction of $1,049,568.45.
• On Thursday, January 22nd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $126.11, for a total transaction of $966,633.15.
• On Tuesday, January 20th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $118.19, for a total value of $905,926.35.
• On Friday, January 16th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $120.82, for a total value of $926,085.30.
• On Wednesday, January 14th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $133.66, for a total value of $1,024,503.90.
• On Monday, January 12th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $147.15, for a total value of $1,127,904.75.
• On Friday, January 9th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $145.91, for a total value of $1,118,400.15.
• On Wednesday, January 7th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.11, for a total transaction of $1,234,908.15.

Atlassian Stock Down 7.7%

Shares of Atlassian stock traded down $8.70 during midday trading on Tuesday, reaching $105.00. 7,650,497 shares of the company's stock traded hands, compared to its average volume of 4,921,227. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market cap of $27.63 billion, a price-to-earnings ratio of -147.89, a price-to-earnings-growth ratio of 18.30 and a beta of 0.88. Atlassian Corporation PLC has a 52 week low of $100.92 and a 52 week high of $326.00. The company's 50 day simple moving average is $148.33 and its 200 day simple moving average is $160.59.

More Atlassian News

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Atlassian announced a multi‑year partnership tying Anthropic’s Claude AI into the Atlassian Williams F1 Team (“Official Thinking Partner”), a move that reinforces Atlassian’s positioning around frontier AI integrations and raises brand visibility in enterprise and media channels. Read More.
• Positive Sentiment: Analyst previews (Zacks) expect Q2 to benefit from robust cloud adoption, AI tooling and steady demand for Jira/Confluence — fundamentals that could support revenue and subscription growth when Atlassian reports. Read More.
• Positive Sentiment: Some Wall Street voices highlighted by The Motley Fool expect large upside for select AI‑levered software names including Atlassian, which can attract investor interest if management demonstrates AI monetization. Read More.
• Neutral Sentiment: Atlassian Williams F1 revealed a bold new racing livery — positive for marketing and brand reach but unlikely to move near‑term revenue materially. Read More.
• Neutral Sentiment: Reported short interest metrics appear effectively immaterial (near zero reported short shares), so short‑covering dynamics are unlikely to be driving today’s move.
• Negative Sentiment: CEO Michael Cannon‑Brookes sold 7,665 shares on Jan. 30 (~$913K at $119.15), trimming his holding — insider sales often trigger near‑term investor concern about executive conviction. Read More.
• Negative Sentiment: Co‑founder/director Scott Farquhar sold an identical block the same day, amplifying negative sentiment from insider transactions even if sales may be for diversification or tax/liquidity reasons. Read More.

Institutional Investors Weigh In On Atlassian

Institutional investors and hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC raised its stake in shares of Atlassian by 71.6% in the 1st quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company's stock valued at $1,153,000 after buying an additional 2,267 shares in the last quarter. Empowered Funds LLC increased its stake in Atlassian by 39.5% in the first quarter. Empowered Funds LLC now owns 4,689 shares of the technology company's stock valued at $995,000 after acquiring an additional 1,328 shares during the period. Focus Partners Wealth grew its stake in shares of Atlassian by 32.6% in the 1st quarter. Focus Partners Wealth now owns 4,122 shares of the technology company's stock valued at $875,000 after purchasing an additional 1,014 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Atlassian by 447.2% during the 1st 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, Sivia Capital Partners LLC grew its position in Atlassian by 27.5% in the second quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company's stock valued at $380,000 after acquiring an additional 404 shares during the period. Institutional investors own 94.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TEAM. BMO Capital Markets upped their target price on Atlassian from $190.00 to $195.00 and gave the stock an "outperform" rating in a research report on Friday, October 31st. Canaccord Genuity Group reaffirmed a "buy" rating and set a $230.00 price objective on shares of Atlassian in a report on Wednesday, October 22nd. Weiss Ratings reissued a "sell (e+)" rating on shares of Atlassian in a research report on Wednesday, January 21st. Jefferies Financial Group set a $262.00 price target on Atlassian in a research report on Thursday, January 15th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $240.00 price objective on shares of Atlassian in a research report on Friday, October 31st. Twenty equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $227.60.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian's product portfolio centers on tools designed to help teams plan, build and support software and business processes.

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