Atlassian (NASDAQ:TEAM) CEO Sells $1,296,611.40 in Stock

Key Points

• Atlassian CEO Michael Cannon-Brookes sold 7,665 shares of stock on October 22nd for a total of $1,296,611.40, resulting in a 2.04% decrease in his ownership.
• The company's stock price dropped $2.88 to $165.01 following the CEO's recent selling activity, amidst varying earnings and price target assessments by analysts.
• Despite a 22.3% year-over-year revenue growth, Wall Street analysts have mixed sentiments about Atlassian, with a consensus rating of "Moderate Buy".

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of the firm's stock in a transaction dated Wednesday, October 22nd. The stock was sold at an average price of $169.16, for a total value of $1,296,611.40. Following the completion of the transaction, the chief executive officer owned 367,920 shares in the company, valued at approximately $62,237,347.20. This trade represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, October 17th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $151.21, for a total transaction of $1,159,024.65.
• On Monday, October 20th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $157.28, for a total value of $1,205,551.20.
• On Wednesday, October 15th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $151.83, for a total value of $1,163,776.95.
• On Monday, October 13th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $147.81, for a total transaction of $1,132,963.65.
• On Friday, October 10th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $145.85, for a total transaction 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 transaction of $1,156,878.45.
• On Monday, October 6th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was 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 stock was 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 shares were sold at an average price of $166.36, for a total transaction of $1,275,149.40.

Atlassian Stock Performance

NASDAQ:TEAM traded down $2.88 during mid-day trading on Thursday, hitting $165.01. The stock had a trading volume of 2,579,148 shares, compared to its average volume of 2,448,412. The company has a 50 day simple moving average of $164.57 and a 200-day simple moving average of $189.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $43.29 billion, a price-to-earnings ratio of -166.68 and a beta of 0.92. Atlassian Corporation PLC has a 52 week low of $144.32 and a 52 week high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.15. The company had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.36 billion. Atlassian had a negative return on equity of 14.77% and a negative net margin of 4.92%.The company's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 earnings per share. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. On average, research analysts expect 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 recently weighed in on TEAM. Cantor Fitzgerald lowered their price target on Atlassian from $256.00 to $240.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Zacks Research cut shares of Atlassian from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 7th. Stephens cut their price target on Atlassian from $221.00 to $202.00 and set an "equal weight" rating for the company in a report on Monday, August 11th. Bank of America initiated coverage on Atlassian in a research note on Tuesday, September 23rd. They set a "neutral" rating and a $200.00 price target on the stock. Finally, Wells Fargo & Company assumed coverage on shares of Atlassian in a report on Tuesday, September 30th. They set an "overweight" rating and a $216.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $247.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Atlassian in the 2nd quarter valued at $377,794,000. Artisan Partners Limited Partnership increased its stake in shares of 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 buying an additional 1,545,546 shares during the period. Nuveen LLC acquired a new stake in shares of Atlassian in the 1st quarter valued at $327,665,000. AQR Capital Management LLC increased its stake in shares of Atlassian by 145.6% in the 1st quarter. AQR Capital Management LLC now owns 1,715,287 shares of the technology company's stock valued at $354,858,000 after buying an additional 1,016,902 shares during the period. Finally, Swedbank AB increased its stake in shares of Atlassian by 139.6% in the 3rd quarter. Swedbank AB now owns 1,372,976 shares of the technology company's stock valued at $219,264,000 after buying an additional 800,000 shares during the period. Institutional investors own 94.45% of the company's stock.

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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