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

Key Points

• Atlassian's CEO, Michael Cannon-Brookes, sold 7,665 shares of stock for approximately $1.33 million, reducing his ownership by 10% to 68,985 shares valued at around $11.97 million.
• The stock is currently trading around $169.63, having seen a significant drop from a high of $326.00 over the past year.
• Atlassian's recent quarterly earnings outperformed expectations, posting $0.98 EPS against an estimate of $0.83, driven by a 22.3% year-over-year revenue increase.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $173.56, for a total value of $1,330,337.40. Following the transaction, the chief executive officer directly owned 61,320 shares in the company, valued at $10,642,699.20. The trade was a 11.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, September 12th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $175.17, for a total transaction of $1,342,678.05.
• On Monday, September 15th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $174.58, for a total value of $1,338,155.70.
• On Wednesday, September 10th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $175.76, for a total value of $1,347,200.40.
• On Monday, September 8th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $171.59, for a total value of $1,315,237.35.
• On Friday, September 5th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $171.90, for a total value of $1,317,613.50.
• On Wednesday, September 3rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $171.14, for a total transaction of $1,311,788.10.
• On Friday, August 29th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $177.83, for a total transaction of $1,363,066.95.
• 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 transaction 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 transaction of $1,298,451.00.
• On Friday, August 22nd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $169.73, for a total transaction of $1,300,980.45.

Atlassian Stock Performance

Shares of NASDAQ TEAM traded down $0.58 during midday trading on Friday, reaching $169.05. The company's stock had a trading volume of 2,754,523 shares, compared to its average volume of 2,134,461. The stock has a market capitalization of $44.35 billion, a P/E ratio of -170.76 and a beta of 0.95. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a 50 day moving average price of $178.63 and a 200-day moving average price of $200.42. Atlassian Corporation PLC has a 12-month low of $155.37 and a 12-month high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, August 7th. The technology company reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.15. The company had revenue of $1.38 billion for 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 business's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.66 EPS. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, equities analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TEAM. Capital One Financial downgraded Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price objective on the stock. in a research report on Wednesday, July 16th. Guggenheim assumed coverage on Atlassian in a report on Thursday, September 11th. They issued a "buy" rating and a $225.00 price target on the stock. Citigroup cut their price objective on Atlassian from $300.00 to $240.00 and set a "buy" rating for the company in a report on Monday, August 18th. KeyCorp lowered their target price on shares of Atlassian from $275.00 to $250.00 and set an "overweight" rating on the stock in a research note on Thursday, July 17th. Finally, UBS Group reiterated a "hold" rating on shares of Atlassian in a research report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $255.45.

Hedge Funds Weigh In On Atlassian

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Clean Yield Group raised its stake in Atlassian by 372.0% in the first quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after buying an additional 93 shares in the last quarter. Capco Asset Management LLC bought a new position in Atlassian in the second quarter worth $25,000. Smithfield Trust Co lifted its position in Atlassian by 90.7% during the first quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after buying an additional 78 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock valued at $42,000 after buying an additional 161 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Atlassian by 82.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company's stock worth $52,000 after buying an additional 110 shares during the period. 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.