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

Key Points

• CEO Michael Cannon‑Brookes sold 7,665 shares on Jan. 12 at an average price of $147.15 (about $1.13M), part of repeated identical 7,665‑share sales in Dec–Jan that reduced his stake by 1.82% to 413,910 shares.
• TEAM shares traded down 5.8% to $137.89 on heavy volume (5.12M shares vs. a 3.48M average), with the market reaction driven in part by the ongoing insider selling.
• Analysts show a “Moderate Buy” consensus with an average price target of ~$238.46 (implying material upside); Atlassian recently beat EPS and revenue estimates but still reports a negative net margin and negative return on equity.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction on Monday, January 12th. The stock was sold at an average price of $147.15, for a total transaction of $1,127,904.75. Following the sale, the chief executive officer directly owned 413,910 shares of the company's stock, valued at $60,906,856.50. This represents a 1.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, January 9th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $145.91, for a total value of $1,118,400.15.
• On Wednesday, January 7th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $161.11, for a total value of $1,234,908.15.
• On Monday, January 5th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $154.20, for a total value of $1,181,943.00.
• On Friday, January 2nd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $156.15, for a total value of $1,196,889.75.
• On Wednesday, December 31st, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.68, for a total value of $1,246,942.20.
• On Monday, December 29th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $163.66, for a total value of $1,254,453.90.
• On Friday, December 26th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.53, for a total transaction of $1,245,792.45.
• On Friday, December 19th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.40, for a total transaction of $1,244,796.00.
• On Tuesday, December 23rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $161.30, for a total transaction of $1,236,364.50.
• On Wednesday, December 17th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.16, for a total transaction of $1,250,621.40.

Atlassian Trading Down 5.8%

Shares of TEAM stock traded down $8.55 on Tuesday, hitting $137.89. 5,123,112 shares of the company's stock traded hands, compared to its average volume of 3,481,469. The stock has a market capitalization of $36.28 billion, a price-to-earnings ratio of -194.21, a P/E/G ratio of 22.67 and a beta of 0.88. The company's fifty day simple moving average is $156.31 and its 200 day simple moving average is $168.73. Atlassian Corporation PLC has a one year low of $137.66 and a one year high of $326.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.21. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.40 billion. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The company's revenue was up 20.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 earnings per share. Equities analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on TEAM. KeyCorp lowered their price objective on Atlassian from $250.00 to $210.00 and set an "overweight" rating for the company in a research report on Thursday, October 23rd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $240.00 target price on shares of Atlassian in a research note on Friday, October 31st. Sanford C. Bernstein upped their price target on shares of Atlassian from $290.00 to $304.00 and gave the company an "outperform" rating in a report on Tuesday, November 18th. Canaccord Genuity Group reissued a "buy" rating and issued a $230.00 price target on shares of Atlassian in a report on Wednesday, October 22nd. Finally, Bank of America started coverage on shares of Atlassian in a research report on Tuesday, September 23rd. They issued a "neutral" rating and a $200.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $238.46.

Atlassian News Summary

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: BTIG reaffirmed a "buy" on TEAM with a $220 price target (big upside vs. current levels), giving near-term fundamental support from a well-known sell‑side shop. Article Title
• Positive Sentiment: Analyst coverage remains skewed toward buys: MarketBeat/consensus data show a "Moderate Buy" consensus and a material upside to the average target (~$238), which can support a rebound if sentiment improves. Article Title
• Positive Sentiment: Keeper Security announced implementation of KeeperPAM to strengthen the Atlassian Williams F1 Team's cyber defenses — a product win that highlights enterprise/security demand for privileged-access management. Article Title
• Neutral Sentiment: Atlassian/Williams F1 announced a driver appointment (Victor Martins) — positive PR for the team sponsorship but unlikely to materially move enterprise revenue. Article Title
• Neutral Sentiment: Short‑interest data released for January appears to show zero shares shorted (likely a reporting/data anomaly), so there's no clear short-squeeze narrative for the move. (Monitor updated filings for clarity.)
• Negative Sentiment: Insider selling from co‑founders/executives: CEO Michael Cannon‑Brookes (and director Scott Farquhar in parallel filings) has been selling recurring blocks of shares in January — recent sales totaled multiple 7,665‑share transactions. Repeated founder sales can pressure sentiment and are a primary negative driver today. SEC Filing

Institutional Investors Weigh In On Atlassian

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEAM. NewEdge Advisors LLC lifted its position in Atlassian by 71.6% during the first quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company's stock valued at $1,153,000 after buying an additional 2,267 shares during the period. Empowered Funds LLC increased its stake in shares of Atlassian by 39.5% in the 1st quarter. Empowered Funds LLC now owns 4,689 shares of the technology company's stock worth $995,000 after acquiring an additional 1,328 shares in the last quarter. Focus Partners Wealth lifted its position in Atlassian by 32.6% during the 1st quarter. Focus Partners Wealth now owns 4,122 shares of the technology company's stock valued at $875,000 after acquiring an additional 1,014 shares during the period. Geneos Wealth Management Inc. boosted its stake in Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock worth $42,000 after acquiring an additional 161 shares in the last quarter. Finally, First Hawaiian Bank bought a new stake in Atlassian during the first quarter worth about $292,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian's product portfolio centers on tools designed to help teams plan, build and support software and business processes.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.