Rep. Robert Bresnahan, Jr. Sells Off Shares of Atlassian Corporation PLC (NASDAQ:TEAM)

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 11th. 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.
• 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.
• Sold $1,001 - $15,000 in shares of Intel NASDAQ: INTC on 6/11/2025.

Atlassian Price Performance

NASDAQ TEAM opened at $194.86 on Friday. The business has a 50 day simple moving average of $206.33 and a 200 day simple moving average of $231.87. Atlassian Corporation PLC has a 52-week low of $135.29 and a 52-week 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. The stock has a market cap of $51.15 billion, a price-to-earnings ratio of -117.39 and a beta of 0.94.

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

Insiders Place Their Bets

In other news, Director Scott Farquhar sold 7,665 shares of the company's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $189.37, for a total value of $1,451,521.05. Following the completion of the transaction, the director owned 406,245 shares of the company's stock, valued at $76,930,615.65. This represents a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $189.37, for a total value of $1,451,521.05. Following the completion of the sale, the chief executive officer owned 406,245 shares in the company, valued at $76,930,615.65. This represents a 1.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 447,725 shares of company stock valued at $93,163,341. 38.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on TEAM. UBS Group reaffirmed a "hold" rating on shares of Atlassian in a report on Monday, July 7th. Truist Financial cut their price target on Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a report on Monday, March 31st. Wall Street Zen raised Atlassian from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. Cantor Fitzgerald raised Atlassian from a "neutral" rating to an "overweight" rating and cut their price target for the company from $304.00 to $272.00 in a report on Wednesday, April 2nd. Finally, Barclays cut their price target on Atlassian from $350.00 to $260.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Atlassian presently has an average rating of "Moderate Buy" and a consensus price target of $279.81.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Robeco Institutional Asset Management B.V. increased its position in Atlassian by 8.6% during the second quarter. Robeco Institutional Asset Management B.V. now owns 56,419 shares of the technology company's stock valued at $11,458,000 after acquiring an additional 4,463 shares during the last quarter. Union Bancaire Privee UBP SA increased its position in Atlassian by 1.6% during the second quarter. Union Bancaire Privee UBP SA now owns 29,555 shares of the technology company's stock valued at $6,002,000 after acquiring an additional 456 shares during the last quarter. Chicago Capital LLC increased its position in Atlassian by 7.5% during the second quarter. Chicago Capital LLC now owns 1,710 shares of the technology company's stock valued at $347,000 after acquiring an additional 120 shares during the last quarter. One Wealth Advisors LLC increased its position in Atlassian by 56.7% during the second quarter. One Wealth Advisors LLC now owns 4,436 shares of the technology company's stock valued at $901,000 after acquiring an additional 1,606 shares during the last quarter. Finally, HB Wealth Management LLC increased its position in Atlassian by 31.8% during the second quarter. HB Wealth Management LLC now owns 10,347 shares of the technology company's stock valued at $2,101,000 after acquiring an additional 2,497 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

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.

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