Michael Cannon-Brookes Sells 7,665 Shares of Atlassian (NASDAQ:TEAM) Stock

Key Points

• Michael Cannon-Brookes, CEO of Atlassian, sold 7,665 shares of the company's stock on September 5th for approximately $1.32 million, marking a 5.56% decrease in his total ownership.
• Atlassian's stock recently traded at $172.70, a 0.2% increase, with a market capitalization of $45.30 billion, reflecting a significant volatility in share prices over the past year.
• Recent earnings reports show Atlassian exceeded analysts' expectations with $1.38 billion in revenue for the quarter, representing a year-over-year increase of 22.3%.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $171.90, for a total value of $1,317,613.50. Following the completion of the transaction, the chief executive officer directly owned 130,305 shares of the company's stock, valued at $22,399,429.50. This represents a 5.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, September 3rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were 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.
• 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 value of $1,300,980.45.
• On Wednesday, August 20th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $166.30, for a total value of $1,274,689.50.
• On Thursday, August 14th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $163.26, for a total value of $1,251,387.90.
• On Monday, August 11th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.51, for a total value of $1,253,304.15.
• On Friday, August 8th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $171.02, for a total value of $1,310,868.30.
• On Wednesday, August 6th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $185.81, for a total value of $1,424,233.65.

Atlassian Stock Up 0.2%

Shares of TEAM traded up $0.27 on Monday, hitting $172.70. The company's stock had a trading volume of 1,800,905 shares, compared to its average volume of 2,389,118. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. The firm's fifty day moving average price is $185.63 and its 200-day moving average price is $206.83. Atlassian Corporation PLC has a fifty-two week low of $154.07 and a fifty-two week high of $326.00. The firm has a market capitalization of $45.30 billion, a price-to-earnings ratio of -174.44 and a beta of 0.95.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share 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 firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the firm posted $0.66 EPS. The business'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 expect that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Institutional Trading of Atlassian

Hedge funds and other institutional investors have recently made changes to their positions in the company. Clean Yield Group boosted its holdings in Atlassian by 372.0% in the first quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after acquiring an additional 93 shares during the last quarter. Capco Asset Management LLC acquired a new position in Atlassian in the second quarter valued at approximately $25,000. Colonial Trust Co SC lifted its stake in Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock valued at $34,000 after buying an additional 69 shares during the period. Smithfield Trust Co lifted its stake in Atlassian by 90.7% in 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. Finally, Geneos Wealth Management Inc. lifted its stake in Atlassian by 447.2% in the first 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 during the period. 94.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. BMO Capital Markets dropped their price target on Atlassian from $225.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Raymond James Financial dropped their price target on Atlassian from $300.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Barclays dropped their price target on Atlassian from $244.00 to $215.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Citigroup dropped their price target on Atlassian from $300.00 to $240.00 and set a "buy" rating on the stock in a research note on Monday, August 18th. Finally, Canaccord Genuity Group decreased their price objective on Atlassian from $255.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $256.90.

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.

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