Atlassian (NASDAQ:TEAM) CEO Sells $1,265,414.85 in Stock

Key Points

• Michael Cannon-Brookes, CEO of Atlassian, sold $1,265,414.85 worth of stock on September 24th, reducing his holdings by 20% to approximately $5.06 million in stock.
• Atlassian's shares traded down to $162.42 and have a 52-week low of $155.37 and a high of $326.00.
• Despite the CEO's recent stock sales, Atlassian reported an earnings per share of $0.98, surpassing analysts' expectations of $0.83, with a revenue increase 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 dated Wednesday, September 24th. The shares were sold at an average price of $165.09, for a total value of $1,265,414.85. Following the sale, the chief executive officer owned 30,660 shares in the company, valued at approximately $5,061,659.40. The trade was a 20.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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 stock was sold at an average price of $171.59, for a total value of $1,315,237.35.
• On Friday, September 5th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $171.90, for a total value of $1,317,613.50.
• On Wednesday, September 3rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $171.14, for a total value of $1,311,788.10.
• On Friday, August 29th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $177.83, for a total value of $1,363,066.95.

Atlassian Stock Performance

Shares of TEAM traded down $1.41 during mid-day trading on Thursday, reaching $162.42. The company had a trading volume of 1,833,394 shares, compared to its average volume of 2,375,075. Atlassian Corporation PLC has a 52-week low of $155.37 and a 52-week high of $326.00. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $42.61 billion, a P/E ratio of -164.06 and a beta of 0.95. The stock has a 50 day moving average of $177.24 and a two-hundred day moving average of $198.58.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its 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 return on equity of 14.77% and a negative net margin of 4.92%.The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the business earned $0.66 earnings per share. The company's revenue 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, analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Hedge Funds Weigh In On Atlassian

Hedge funds have recently made changes to their positions in the company. Clean Yield Group raised its holdings in shares of Atlassian by 372.0% during the first quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after acquiring an additional 93 shares during the last quarter. Capco Asset Management LLC acquired a new position in shares of Atlassian during the second quarter valued at approximately $25,000. Smithfield Trust Co raised its holdings in shares of Atlassian by 90.7% during the first quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after acquiring an additional 78 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock valued at $42,000 after acquiring an additional 161 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Atlassian by 82.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company's stock valued at $52,000 after acquiring an additional 110 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Stephens lowered their target price on Atlassian from $221.00 to $202.00 and set an "equal weight" rating on the stock in a research note on Monday, August 11th. KeyCorp reduced their price target on Atlassian from $275.00 to $250.00 and set an "overweight" rating for the company in a report on Thursday, July 17th. UBS Group reaffirmed a "hold" rating on shares of Atlassian in a report on Monday, July 7th. Guggenheim began coverage on Atlassian in a report on Thursday, September 11th. They issued a "buy" rating and a $225.00 price target for the company. Finally, Canaccord Genuity Group reduced their price target on Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a report on Friday, August 8th. One equities research 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 data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $253.04.

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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