Atlassian (NASDAQ:TEAM) Reaches New 52-Week Low Following Insider Selling

Key Points

• Atlassian's stock (NASDAQ:TEAM) reached a new 52-week low of $146.88 following insider selling by CEO Michael Cannon-Brookes and Director Scott Farquhar, who each sold 7,665 shares.
• Multiple analysts have recently downgraded their price targets for Atlassian, with ratings ranging from Strong Buy to Sell, and a consensus target price of approximately $248.74.
• Institutional investors have shown increased interest in Atlassian, with significant share purchases, leading to 94.45% of the stock currently owned by institutional investors.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $146.88 and last traded at $147.80, with a volume of 539132 shares. The stock had previously closed at $150.19.

Specifically, CEO Michael Cannon-Brookes sold 7,665 shares of the company's stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $150.86, for a total value of $1,156,341.90. Following the sale, the chief executive officer directly owned 467,565 shares in the company, valued at $70,536,855.90. This represents a 1.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Scott Farquhar sold 7,665 shares of the company's stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $150.86, for a total value of $1,156,341.90. Following the completion of the sale, the director owned 467,565 shares in the company, valued at $70,536,855.90. The trade was a 1.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, CEO Michael Cannon-Brookes sold 7,665 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $152.50, for a total value of $1,168,912.50. Following the sale, the chief executive officer directly owned 482,895 shares in the company, valued at $73,641,487.50. This represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Analysts Set New Price Targets

TEAM has been the topic of several recent analyst reports. Stephens dropped their price target 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. Cantor Fitzgerald lowered their target price on Atlassian from $256.00 to $240.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. BMO Capital Markets lowered their target price on Atlassian from $225.00 to $200.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Raymond James Financial lowered their target price on Atlassian from $300.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Finally, Barclays lowered their target price on Atlassian from $244.00 to $215.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $248.74.

Atlassian Price Performance

The firm has a 50 day moving average price of $170.64 and a two-hundred day moving average price of $194.64. The company has a market cap of $38.77 billion, a P/E ratio of -149.29 and a beta of 0.92. 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 (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 earnings per share (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 business had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter in the prior year, the firm posted $0.66 EPS. The firm's quarterly revenue was up 22.3% on a year-over-year basis. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. On average, analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlassian

Large investors have recently made changes to their positions in the business. One Wealth Advisors LLC grew its position in shares of Atlassian by 56.7% in the 2nd quarter. One Wealth Advisors LLC now owns 4,436 shares of the technology company's stock worth $901,000 after buying an additional 1,606 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Atlassian by 37.7% in the 1st quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company's stock worth $80,000 after buying an additional 101 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Atlassian by 42.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,240 shares of the technology company's stock worth $900,000 after buying an additional 1,259 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Atlassian by 350.1% in the 1st quarter. Principal Financial Group Inc. now owns 51,900 shares of the technology company's stock worth $11,014,000 after buying an additional 40,369 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Atlassian by 47,387.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,799 shares of the technology company's stock valued at $822,000 after purchasing an additional 3,791 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

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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