Atlassian (NASDAQ:TEAM) Stock Price Down 3.8% Following Insider Selling

Atlassian Corporation PLC (NASDAQ:TEAM)’s stock price was down 3.8% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $166.00 and last traded at $164.08. Approximately 156,343 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 2,363,028 shares. The stock had previously closed at $170.63.

Specifically, Director Scott Farquhar sold 7,665 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $170.20, for a total transaction of $1,304,583.00. Following the completion of the sale, the director owned 45,990 shares of the company’s stock, valued at $7,827,498. This trade represents a 14.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $170.20, for a total transaction of $1,304,583.00. Following the sale, the chief executive officer directly owned 45,990 shares of the company’s stock, valued at approximately $7,827,498. This trade represents a 14.29% decrease in their position. The disclosure for this sale can be found here. In other news, Director Scott Farquhar sold 7,665 shares of the firm’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $169.32, for a total transaction of $1,297,837.80. Following the completion of the sale, the director owned 53,655 shares of the company’s stock, valued at $9,084,864.60. This trade represents a 12.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. UBS Group reiterated a “hold” rating on shares of Atlassian in a report on Monday, July 7th. Mizuho cut their target price on Atlassian from $265.00 to $235.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Citigroup cut their target price on Atlassian from $300.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, August 18th. Bank of America assumed coverage on Atlassian in a report on Tuesday. They issued a “neutral” rating and a $200.00 target price on the stock. Finally, Cantor Fitzgerald cut their target price on Atlassian from $256.00 to $240.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $253.04.

Atlassian Trading Down 2.9%

The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a 50 day simple moving average of $177.77 and a two-hundred day simple moving average of $198.83. The firm has a market capitalization of $43.46 billion, a P/E ratio of -167.35 and a beta of 0.95.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the business earned $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. Equities research analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Atlassian

Large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC increased its position in shares of Atlassian by 37.7% during the 1st quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company’s stock valued at $80,000 after purchasing an additional 101 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Atlassian by 42.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,240 shares of the technology company’s stock valued at $900,000 after purchasing an additional 1,259 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Atlassian by 350.1% during the 1st quarter. Principal Financial Group Inc. now owns 51,900 shares of the technology company’s stock valued at $11,014,000 after purchasing an additional 40,369 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Atlassian by 47,387.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,799 shares of the technology company’s stock valued at $822,000 after purchasing an additional 3,791 shares during the last quarter. Finally, Amalgamated Bank increased its position in shares of Atlassian by 6.1% during the 1st quarter. Amalgamated Bank now owns 11,360 shares of the technology company’s stock valued at $2,411,000 after purchasing an additional 650 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other 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.