Atlassian (NASDAQ:TEAM) CEO Sells 7,665 Shares

Key Points

• Atlassian CEO Michael Cannon-Brookes sold 7,665 shares on Jan. 26 at an average price of $136.93 for about $1.05 million, leaving him with 344,925 shares (a 2.17% reduction in his ownership).
• The Jan. 26 sale is part of a recurring pattern—he sold the same 7,665-share block on 11 occasions since Dec. 31, with prices ranging roughly from $118 to $163, signaling systematic insider selling.
• Market context: TEAM traded down to $133.86 (down ~3.3%), the stock has a 50-day MA of $150.56 and a 52-week range of $115.53–$326.00, while analysts’ consensus is a Moderate Buy with an average target of $231.54.

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, January 26th. The stock was sold at an average price of $136.93, for a total value of $1,049,568.45. Following the completion of the sale, the chief executive officer directly owned 344,925 shares of the company's stock, valued at approximately $47,230,580.25. This trade represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, January 22nd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was 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 stock was sold at an average price of $118.19, for a total transaction of $905,926.35.
• On Friday, January 16th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was 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 shares were sold at an average price of $133.66, for a total transaction of $1,024,503.90.
• On Monday, January 12th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was 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 shares were sold at an average price of $145.91, for a total transaction 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.
• On Monday, January 5th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $154.20, for a total value of $1,181,943.00.
• On Friday, January 2nd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $156.15, for a total transaction of $1,196,889.75.
• On Wednesday, December 31st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.68, for a total value of $1,246,942.20.

Atlassian Stock Down 3.3%

TEAM traded down $4.58 on Tuesday, hitting $133.86. The company had a trading volume of 4,266,318 shares, compared to its average volume of 4,649,754. The stock has a fifty day simple moving average of $150.56 and a 200-day simple moving average of $162.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market capitalization of $35.22 billion, a P/E ratio of -188.53, a P/E/G ratio of 20.40 and a beta of 0.88. Atlassian Corporation PLC has a 52-week low of $115.53 and a 52-week high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.21. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the firm earned $0.77 EPS. Atlassian's quarterly revenue was up 20.6% compared to the same quarter last year. As a group, equities analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Atlassian

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Atlassian by 6.0% during the 3rd quarter. Vanguard Group Inc. now owns 18,479,561 shares of the technology company's stock worth $2,951,186,000 after buying an additional 1,049,483 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of Atlassian by 3.9% during the 4th quarter. Baillie Gifford & Co. now owns 8,431,802 shares of the technology company's stock valued at $1,367,132,000 after acquiring an additional 316,276 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in shares of Atlassian by 66.3% in the second quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company's stock worth $787,610,000 after purchasing an additional 1,545,546 shares during the period. State Street Corp grew its position in Atlassian by 1.9% in the 3rd quarter. State Street Corp now owns 3,867,995 shares of the technology company's stock worth $617,719,000 after purchasing an additional 73,014 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Atlassian by 18.7% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,867,886 shares of the technology company's stock worth $458,001,000 after buying an additional 451,706 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TEAM. Zacks Research raised shares of Atlassian from a "strong sell" rating to a "hold" rating in a report on Monday, November 3rd. Canaccord Genuity Group reissued a "buy" rating and issued a $230.00 price objective on shares of Atlassian in a research note on Wednesday, October 22nd. BMO Capital Markets increased their target price on Atlassian from $190.00 to $195.00 and gave the company an "outperform" rating in a research report on Friday, October 31st. Wells Fargo & Company began coverage on Atlassian in a report on Tuesday, September 30th. They set an "overweight" rating and a $216.00 price objective for the company. Finally, Jefferies Financial Group set a $262.00 target price on shares of Atlassian in a research report on Thursday, January 15th. Twenty-one analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $231.54.

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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