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

Atlassian Corporation PLC (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $162.53, for a total value of $1,245,792.45. Following the completion of the transaction, the chief executive officer directly owned 22,995 shares in the company, valued at $3,737,377.35. This trade represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, December 29th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.66, for a total value of $1,254,453.90.
• 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 shares were 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.
• On Monday, December 15th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $158.92, for a total transaction of $1,218,121.80.
• On Friday, December 12th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.11, for a total transaction of $1,242,573.15.
• On Wednesday, December 10th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.79, for a total transaction of $1,240,120.35.
• On Monday, December 8th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $160.70, for a total value of $1,231,765.50.
• On Friday, December 5th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.48, for a total value of $1,230,079.20.
• On Wednesday, December 3rd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $155.08, for a total value of $1,188,688.20.

Atlassian Price Performance

Shares of TEAM stock opened at $163.99 on Tuesday. 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 Corporation PLC has a fifty-two week low of $139.70 and a fifty-two week high of $326.00. The firm has a market cap of $43.15 billion, a P/E ratio of -230.97, a P/E/G ratio of 25.27 and a beta of 0.89. The business’s 50 day moving average price is $158.33 and its 200-day moving average price is $171.62.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.21. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.40 billion. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.The firm’s revenue was up 20.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 earnings per share. On average, equities research analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Atlassian News Roundup

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Brokerage consensus: Several brokerages compiled a consensus rating of “Moderate Buy,” which provides a supportive analyst backdrop and can help buyers justify holding or adding to positions. Article Title
• Negative Sentiment: Insider sales — Dec. 29: Co‑founders/CEOs Michael Cannon‑Brookes and Scott Farquhar each sold 7,665 shares at an average price of $163.66 (each total ≈ $1.25M), reducing their holdings by ~33.3%. These simultaneous, sizable sales from the company’s top executives look material and can be perceived as negative by the market unless explained as planned diversification or tax/liquidity needs. SEC Filing – Scott Farquhar Dec 29 SEC Filing – Michael Cannon‑Brookes Dec 29
• Negative Sentiment: Insider sales — Dec. 26: Both executives also sold 7,665 shares each at an average price of $162.53 (~$1.25M each), earlier in the week, representing a ~25% reduction in ownership at that time. Multiple sales across dates increase perceived significance versus a one‑off transaction. SEC Filing – Scott Farquhar Dec 26 SEC Filing – Michael Cannon‑Brookes Dec 26

Institutional Investors Weigh In On Atlassian

Hedge funds have recently added to or reduced their stakes in the stock. Capco Asset Management LLC bought a new position in shares of Atlassian during the second quarter valued at $25,000. Physician Wealth Advisors Inc. grew its holdings in shares of Atlassian by 60.4% during the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after buying an additional 61 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after acquiring an additional 161 shares in the last quarter. Atlantic Union Bankshares Corp raised its holdings in Atlassian by 19,900.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after acquiring an additional 199 shares during the last quarter. Finally, State of Wyoming lifted its position in Atlassian by 20.3% in the 1st quarter. State of Wyoming now owns 278 shares of the technology company’s stock valued at $59,000 after acquiring an additional 47 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TEAM. Zacks Research raised shares of Atlassian from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. Macquarie lowered their target price on Atlassian from $250.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Cowen restated a “hold” rating on shares of Atlassian in a research report on Monday, October 27th. Mizuho increased their price objective on Atlassian from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Finally, BMO Capital Markets boosted their target price on shares of Atlassian from $190.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $239.23.

About Atlassian

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.