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

Atlassian Corporation PLC (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $161.11, for a total value of $1,234,908.15. Following the transaction, the chief executive officer owned 436,905 shares in the company, valued at $70,389,764.55. The trade was a 1.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• 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 stock was 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.
• On Monday, December 29th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $163.66, for a total value of $1,254,453.90.
• On Friday, December 26th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.53, for a total value of $1,245,792.45.
• On Friday, December 19th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.40, for a total value 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 value of $1,236,364.50.
• On Wednesday, December 17th, Michael Cannon-Brookes sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $163.16, for a total value 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 value 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.

Atlassian Trading Down 7.1%

Shares of Atlassian stock opened at $149.43 on Friday. 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 Corporation PLC has a 12-month low of $139.70 and a 12-month high of $326.00. The company has a market capitalization of $39.32 billion, a price-to-earnings ratio of -210.46, a PEG ratio of 24.91 and a beta of 0.88. The firm’s 50-day moving average price is $157.37 and its two-hundred day moving average price is $169.84.

Atlassian (NASDAQ:TEAM) last issued 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 company had revenue of $1.43 billion during 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%. The firm’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 EPS. On average, analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Key Headlines Impacting Atlassian

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Brand / marketing boost from the Williams F1 relationship could raise Atlassian’s profile and enterprise marketing reach—potentially supportive over time. Grove: The home of Atlassian Williams F1 Team
• Neutral Sentiment: Analysts and write-ups are re?assessing TEAM’s valuation in light of the Dashmoto / Williams F1 collaboration—discussion centers on branding benefits vs. near-term financials, so impact on price is uncertain. Assessing Atlassian (NasdaqGS:TEAM) Valuation After New Dashmoto And Williams F1 Collaboration
• Neutral Sentiment: Market roundup pieces note Atlassian among several software names falling today, attributing moves to sector rotation and macro/earnings positioning rather than company-specific news alone. Elastic, Atlassian, Autodesk, Commerce, and Domo shares are falling. What you need to know
• Negative Sentiment: Co?founder/CEO Michael Cannon?Brookes sold 7,665 shares on Jan. 7 (~$1.235M at $161.11), a disclosed insider sale that can weigh on sentiment when executed by top executives. SEC Filing — Michael Cannon-Brookes Sale
• Negative Sentiment: Co?founder/director Scott Farquhar sold an identical block (7,665 shares on Jan. 7 at $161.11), another high?profile insider sale that amplifies investor concern about insider timing. SEC Filing — Scott Farquhar Sale
• Negative Sentiment: Media commentators (including Jim Cramer) are flagging Atlassian as being “in the crosshairs,” which can intensify selling pressure from momentum or headline?driven traders. Jim Cramer says “Atlassian’s really in the crosshairs”
• Negative Sentiment: Broader negative narrative: a recent piece notes shareholders are down ~34% over the past year, reinforcing a bearish sentiment backdrop for the stock. Atlassian (NASDAQ:TEAM) shareholders have endured a 34% loss from investing in the stock a year ago

Institutional Trading of Atlassian

Several institutional investors have recently modified their holdings of TEAM. Capco Asset Management LLC acquired a new position in Atlassian during the 2nd quarter worth about $25,000. Physician Wealth Advisors Inc. boosted its stake in shares of Atlassian by 60.4% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after purchasing an additional 61 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after buying an additional 161 shares during the last quarter. Atlantic Union Bankshares Corp raised its stake in Atlassian by 19,900.0% during the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after buying an additional 199 shares during the last quarter. Finally, Board of the Pension Protection Fund bought a new stake in Atlassian during the fourth quarter valued at $32,000. Institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TEAM. KeyCorp lowered their price target on Atlassian from $250.00 to $210.00 and set an “overweight” rating for the company in a report on Thursday, October 23rd. Cowen reissued a “hold” rating on shares of Atlassian in a research note on Monday, October 27th. Wells Fargo & Company began coverage on shares of Atlassian in a research note on Tuesday, September 30th. They issued an “overweight” rating and a $216.00 price target on the stock. Mizuho upped their price objective on shares of Atlassian from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Finally, Piper Sandler dropped their price objective on shares of Atlassian from $300.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.46.

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.