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 the firm’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $136.93, for a total transaction of $1,049,568.45. Following the completion of the transaction, the chief executive officer directly owned 344,925 shares of the company’s stock, valued at $47,230,580.25. This represents a 2.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Thursday, January 22nd, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $126.11, for a total transaction of $966,633.15.
• On Tuesday, January 20th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $118.19, for a total value of $905,926.35.
• On Friday, January 16th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $120.82, for a total value of $926,085.30.
• On Wednesday, January 14th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $133.66, for a total value of $1,024,503.90.
• On Monday, January 12th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $147.15, for a total value of $1,127,904.75.
• 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 shares were 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 transaction 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 transaction 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 transaction of $1,246,942.20.

Atlassian Stock Down 3.3%

TEAM stock opened at $133.86 on Wednesday. The company has a 50 day moving average of $150.26 and a two-hundred day moving average of $162.52. The company has a market cap of $35.22 billion, a price-to-earnings ratio of -188.53, a PEG ratio of 21.44 and a beta of 0.88. Atlassian Corporation PLC has a 12-month low of $115.53 and a 12-month high of $326.00. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72.

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

More Atlassian News

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Atlassian renewed its long-term, fan-first partnership with Williams F1 (continued brand exposure and marketing momentum). Atlassian Williams F1 Team and Kraken renew long-term fan-first partnership
• Positive Sentiment: Sparco joined the Atlassian Williams F1 Team as the official racewear and technical apparel supplier (another marketing/brand partnership). Sparco joins Atlassian Williams F1 Team as Official Racewear and Technical Apparel Supplier
• Neutral Sentiment: Reported short-interest data is inconsistent (entries list a “large increase” but show zero shares and a 0.0 days short-interest ratio), so short activity is not a clear driver based on this release. (Data appears unreliable.)
• Neutral Sentiment: Coverage explaining the day’s move is available and summarizes the mix of items pressuring shares. Why Atlassian (TEAM) Shares Are Falling Today
• Negative Sentiment: Insider selling: CEO Michael Cannon-Brookes and Director Scott Farquhar each sold 7,665 shares at ~$136.93 (~$1.05M each), reducing their holdings by ~2.17% — a near-term negative signal for investor sentiment. SEC Filing – Insider Sale
• Negative Sentiment: Analyst action: Robert W. Baird lowered its price target from $230 to $170 (still an “outperform” rating), trimming upside expectations and likely adding downward pressure. Atlassian price target lowered at Baird
• Negative Sentiment: Investor litigation probe: Pomerantz LLP announced an investigation into Atlassian on behalf of investors, which can increase legal risk and weigh on the stock until resolved. Pomerantz investor alert

Institutional Trading of Atlassian

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted its position in shares of Atlassian by 71.6% in the first quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company’s stock valued at $1,153,000 after acquiring an additional 2,267 shares during the period. Empowered Funds LLC boosted its holdings in Atlassian by 39.5% in the 1st quarter. Empowered Funds LLC now owns 4,689 shares of the technology company’s stock valued at $995,000 after purchasing an additional 1,328 shares during the period. Focus Partners Wealth grew its position in Atlassian by 32.6% in the 1st quarter. Focus Partners Wealth now owns 4,122 shares of the technology company’s stock worth $875,000 after purchasing an additional 1,014 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after purchasing an additional 161 shares during the period. Finally, Sivia Capital Partners LLC raised its position in shares of Atlassian by 27.5% during the second quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company’s stock valued at $380,000 after buying an additional 404 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on TEAM shares. The Goldman Sachs Group reiterated a “buy” rating and issued a $260.00 target price on shares of Atlassian in a research note on Friday, October 31st. Piper Sandler reaffirmed an “overweight” rating on shares of Atlassian in a research note on Tuesday, January 13th. Jefferies Financial Group set a $262.00 target price on shares of Atlassian in a research report on Thursday, January 15th. Truist Financial set a $210.00 target price on Atlassian in a report on Friday, October 31st. Finally, Sanford C. Bernstein upped their price target on Atlassian from $290.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 18th. Twenty-one equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and an average target price of $231.54.

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.