Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells $2,030,316.60 in Stock

Posted by Lindsey Winhoffer on Jan 2nd, 2025

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $255.45, for a total transaction of $2,030,316.60. Following the transaction, the chief executive officer now owns 23,844 shares in the company, valued at $6,090,949.80. This represents a 25.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

On Monday, December 30th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $246.97, for a total transaction of $1,962,917.56.
On Tuesday, December 24th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.25, for a total transaction of $2,028,727.00.
On Friday, December 20th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.22, for a total transaction of $2,028,488.56.
On Monday, December 16th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.13, for a total transaction of $2,210,577.24.
On Thursday, December 12th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.20, for a total transaction of $2,211,133.60.
On Thursday, December 5th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.79, for a total transaction of $2,215,822.92.
On Friday, November 29th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $264.32, for a total transaction of $2,100,815.36.
On Wednesday, November 27th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $261.73, for a total transaction of $2,080,230.04.
On Monday, November 18th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $239.19, for a total transaction of $1,901,082.12.
On Wednesday, November 6th, Michael Cannon-Brookes sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $224.33, for a total transaction of $1,782,974.84.

Atlassian Stock Down 1.5 %

Shares of TEAM opened at $243.38 on Thursday. The company has a market cap of $63.38 billion, a PE ratio of -160.12 and a beta of 0.80. The business has a fifty day moving average of $247.04 and a 200 day moving average of $195.31. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $287.97. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM – Get Free Report) last released its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the company earned ($0.07) earnings per share. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. On average, sell-side analysts expect that Atlassian Co. will post -0.54 EPS for the current year.

Wall Street Analyst Weigh In

TEAM has been the subject of several analyst reports. UBS Group increased their target price on shares of Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Robert W. Baird increased their price objective on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Piper Sandler increased their price objective on shares of Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Macquarie initiated coverage on shares of Atlassian in a report on Thursday, December 12th. They set a “neutral” rating and a $290.00 price objective for the company. Finally, Truist Financial increased their price objective on shares of Atlassian from $200.00 to $250.00 and gave the company a “hold” rating in a report on Thursday, December 12th. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $258.00.

Read Our Latest Stock Report on Atlassian

Institutional Trading of Atlassian

Several institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in shares of Atlassian in the third quarter valued at about $606,000. Sequoia Financial Advisors LLC raised its holdings in shares of Atlassian by 37.0% in the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after acquiring an additional 520 shares in the last quarter. Paloma Partners Management Co bought a new stake in shares of Atlassian in the third quarter valued at about $1,588,000. Impax Asset Management Group plc raised its holdings in shares of Atlassian by 590.6% in the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock valued at $5,940,000 after acquiring an additional 31,986 shares in the last quarter. Finally, Parnassus Investments LLC raised its holdings in shares of Atlassian by 322.9% in the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after acquiring an additional 245,286 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Atlassian Company Profile

(Get Free Report)

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.