Insider Selling: Atlassian (NASDAQ:TEAM) CEO Sells 7,665 Shares of Stock

Key Points

• Atlassian CEO Michael Cannon-Brookes sold 7,665 shares of stock for approximately $1.3 million, reducing his holdings by 3.7% to 199,290 shares worth around $33.8 million.
• The company's quarterly earnings report showed an EPS of $0.98, surpassing analysts' expectations of $0.83, with revenue growth of 22.3% year-over-year.
• Recent analyst ratings have lowered price targets for Atlassian, with various firms reducing their estimates between $230.00 and $250.00, while maintaining a general positive outlook.

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 Friday, August 22nd. The stock was sold at an average price of $169.73, for a total value of $1,300,980.45. Following the completion of the transaction, the chief executive officer owned 199,290 shares in the company, valued at approximately $33,825,491.70. This trade represents a 3.70% 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 Wednesday, August 27th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $171.13, for a total value of $1,311,711.45.
• On Monday, August 25th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $169.40, for a total value of $1,298,451.00.
• On Wednesday, August 20th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $166.30, for a total value of $1,274,689.50.
• On Thursday, August 14th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $163.26, for a total value of $1,251,387.90.
• On Monday, August 11th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $163.51, for a total value of $1,253,304.15.
• On Friday, August 8th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $171.02, for a total value of $1,310,868.30.
• On Wednesday, August 6th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $185.81, for a total value of $1,424,233.65.
• On Monday, August 4th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $185.43, for a total value of $1,421,320.95.
• On Friday, August 1st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $184.43, for a total value of $1,413,655.95.
• On Wednesday, July 30th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $197.88, for a total value of $1,516,750.20.

Atlassian Stock Up 1.3%

Shares of NASDAQ:TEAM traded up $2.34 during mid-day trading on Friday, hitting $179.12. 1,245,147 shares of the company traded hands, compared to its average volume of 2,377,396. The firm has a market cap of $46.99 billion, a P/E ratio of -181.28 and a beta of 0.96. 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 Corporation PLC has a 52-week low of $154.07 and a 52-week high of $326.00. The firm's 50 day simple moving average is $188.49 and its 200 day simple moving average is $214.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Thursday, August 7th. The technology company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.83 by $0.15. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate 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 was up 22.3% on a year-over-year basis. During the same period last year, the business posted $0.66 EPS. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. On average, equities analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TEAM. UBS Group restated a "hold" rating on shares of Atlassian in a research note on Monday, July 7th. Wells Fargo & Company lowered their price objective on Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Canaccord Genuity Group lowered their price objective on Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Capital One Financial lowered Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price objective for the company. in a research note on Wednesday, July 16th. Finally, Cantor Fitzgerald lowered their price objective on Atlassian from $256.00 to $240.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $256.90.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. GeoWealth Management LLC lifted its holdings in shares of Atlassian by 26.8% in the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock worth $44,000 after purchasing an additional 38 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Atlassian by 3.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 157,752 shares of the technology company's stock worth $38,398,000 after purchasing an additional 5,878 shares during the last quarter. MML Investors Services LLC lifted its holdings in shares of Atlassian by 8.0% in the 4th quarter. MML Investors Services LLC now owns 15,110 shares of the technology company's stock worth $3,678,000 after purchasing an additional 1,121 shares during the last quarter. IHT Wealth Management LLC bought a new stake in shares of Atlassian in the 4th quarter worth approximately $208,000. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of Atlassian in the 4th quarter worth approximately $3,042,000. Institutional investors and hedge funds 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.