Atlassian (NASDAQ:TEAM) Shares Unloaded Rep. Robert Bresnahan, Jr.

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of Atlassian Corporation PLC NASDAQ: TEAM. In a filing disclosed on July 08th, the Representative disclosed that they had sold between $1,001 and $15,000 in Atlassian stock on June 3rd. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT #2" account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Zoom Communications NASDAQ: ZM on 6/25/2025.
• Purchased $1,001 - $15,000 in shares of Coinbase Global NASDAQ: COIN on 6/24/2025.
• Purchased $1,001 - $15,000 in shares of Circle Internet Group NYSE: CRCL on 6/24/2025.
• Sold $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 6/23/2025.
• Sold $1,001 - $15,000 in shares of Chubb NYSE: CB on 6/13/2025.
• Sold $1,001 - $15,000 in shares of Atlassian NASDAQ: TEAM on 6/11/2025.
• Purchased $1,001 - $15,000 in shares of ServiceTitan NASDAQ: TTAN on 6/11/2025.
• Sold $1,001 - $15,000 in shares of Datadog NASDAQ: DDOG on 6/11/2025.
• Sold $1,001 - $15,000 in shares of GitLab NASDAQ: GTLB on 6/11/2025.
• Purchased $1,001 - $15,000 in shares of Broadcom NASDAQ: AVGO on 6/11/2025.

Atlassian Trading Up 2.2%

TEAM stock traded up $4.24 during midday trading on Friday, hitting $194.86. The stock had a trading volume of 1,563,488 shares, compared to its average volume of 2,205,413. The firm has a market cap of $51.15 billion, a PE ratio of -117.39 and a beta of 0.94. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. Atlassian Corporation PLC has a 12-month low of $135.29 and a 12-month high of $326.00. The company's 50-day moving average price is $206.33 and its 200 day moving average price is $231.87.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.93 by $0.04. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The firm had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. During the same period in the previous year, the company earned $0.89 EPS. Atlassian's revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities research analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TEAM has been the subject of several research reports. UBS Group reissued a "hold" rating on shares of Atlassian in a research note on Monday, July 7th. Robert W. Baird upgraded shares of Atlassian from a "neutral" rating to an "outperform" rating and cut their target price for the company from $320.00 to $255.00 in a research note on Monday, April 14th. Raymond James Financial restated an "outperform" rating and issued a $300.00 target price (down previously from $330.00) on shares of Atlassian in a research note on Friday, May 2nd. Morgan Stanley lowered their price objective on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, Wall Street Zen upgraded shares of Atlassian from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $279.81.

Institutional Investors Weigh In On Atlassian

Several hedge funds have recently made changes to their positions in TEAM. Jones Financial Companies Lllp lifted its position in shares of Atlassian by 51.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,227 shares of the technology company's stock valued at $299,000 after acquiring an additional 417 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Atlassian by 7.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,252 shares of the technology company's stock worth $305,000 after purchasing an additional 88 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Atlassian by 2.2% during the 4th quarter. Victory Capital Management Inc. now owns 120,881 shares of the technology company's stock worth $29,420,000 after purchasing an additional 2,655 shares during the last quarter. Assetmark Inc. grew its stake in Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after buying an additional 41 shares during the last quarter. Finally, Atria Investments Inc grew its stake in Atlassian by 13.1% in the 4th quarter. Atria Investments Inc now owns 5,356 shares of the technology company's stock valued at $1,303,000 after buying an additional 620 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insiders Place Their Bets

In other news, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $206.80, for a total transaction of $1,643,646.40. Following the completion of the transaction, the director directly owned 174,856 shares of the company's stock, valued at approximately $36,160,220.80. This trade represents a 4.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $222.47, for a total transaction of $1,768,191.56. Following the transaction, the chief executive officer directly owned 143,064 shares of the company's stock, valued at $31,827,448.08. The trade was a 5.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 447,725 shares of company stock worth $93,163,341 over the last quarter. 38.55% of the stock is currently owned by company insiders.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election. Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.