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 on September 19th at an average price of $169.32, totaling approximately $1.3 million, reducing his ownership by 12.50%.
• Despite recent insider sales, Atlassian's stock performance remains strong with a current trading price of $170.63 and marked year-on-year revenue growth of 22.3%.
• Several research firms have adjusted their price targets for Atlassian, with a consensus rating of "Moderate Buy" and an average price target of $255.45.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $169.32, for a total value of $1,297,837.80. Following the sale, the chief executive officer directly owned 53,655 shares in the company, valued at $9,084,864.60. The trade was a 12.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Wednesday, September 17th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $173.56, for a total value of $1,330,337.40.
• 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 transaction 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 transaction of $1,347,200.40.
• On Monday, September 8th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was 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 stock was 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 value of $1,311,788.10.
• On Friday, August 29th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $177.83, for a total value 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 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.

Atlassian Price Performance

NASDAQ TEAM traded up $1.58 during trading hours on Monday, reaching $170.63. 1,633,224 shares of the company's stock were exchanged, compared to its average volume of 2,375,378. The stock has a market cap of $44.76 billion, a PE ratio of -172.35 and a beta of 0.95. Atlassian Corporation PLC has a one year low of $155.37 and a one year high of $326.00. The firm has a fifty day moving average of $178.63 and a 200-day moving average of $199.53. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.15. Atlassian had a negative net margin of 4.92% and a negative return on equity of 14.77%. The firm had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter in the previous year, the company posted $0.66 EPS. Atlassian's 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, equities research analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlassian

Several large investors have recently modified their holdings of TEAM. Clean Yield Group increased its holdings in shares of 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 acquiring an additional 93 shares in the last quarter. Capco Asset Management LLC acquired a new position in Atlassian in the 2nd quarter worth $25,000. Smithfield Trust Co lifted its position in Atlassian by 90.7% during the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock worth $34,000 after buying an additional 78 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock worth $42,000 after buying an additional 161 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in Atlassian by 82.7% during 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 in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Atlassian from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. BMO Capital Markets dropped their price objective on shares of Atlassian from $225.00 to $200.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Capital One Financial cut shares of Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price objective for the company. in a research report on Wednesday, July 16th. Oppenheimer dropped their price objective on shares of Atlassian from $300.00 to $275.00 and set an "outperform" rating for the company in a research report on Monday, July 21st. Finally, Citigroup dropped their target price on shares of Atlassian from $300.00 to $240.00 and set a "buy" rating for the company in a research report on Monday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Atlassian currently has a consensus rating of "Moderate Buy" and an average price target of $255.45.

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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