Key Points
- Michael Cannon‑Brookes sold 7,665 shares on Dec. 26 at an average price of $162.53 for $1,245,792.45, leaving him with 22,995 shares — a reported ~25% reduction in his ownership.
- He executed multiple identical 7,665‑share sales across December (Dec. 3–29), and co‑founder Scott Farquhar made matching sales, a pattern of repeated insider selling that can be seen as a negative signal; Atlassian stock was trading around $164 with a consensus rating of “Moderate Buy.”
Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction on Friday, December 26th. The shares were sold at an average price of $162.53, for a total value of $1,245,792.45. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
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 stock was 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 shares were 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 stock was 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 stock was 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 value 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 stock was sold at an average price of $155.08, for a total value of $1,188,688.20.
Atlassian Trading Up 0.5%
Atlassian stock opened at $163.99 on Tuesday. Atlassian Corporation PLC has a 52-week low of $139.70 and a 52-week high of $326.00. The company 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 company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The business has a 50-day simple moving average of $158.33 and a two-hundred day simple moving average of $171.62.
Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.21. The company 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%. The firm's revenue was up 20.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 earnings per share. Analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current year.
Institutional Investors Weigh In On Atlassian
Institutional investors have recently added to or reduced their stakes in the stock. Capco Asset Management LLC bought a new stake in shares of Atlassian during the second quarter valued at approximately $25,000. Physician Wealth Advisors Inc. grew its stake in 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 acquiring an additional 61 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Atlassian by 447.2% in 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 in the last quarter. Atlantic Union Bankshares Corp boosted its holdings in shares of Atlassian by 19,900.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company's stock valued at $32,000 after purchasing an additional 199 shares during the last quarter. Finally, State of Wyoming grew its position in shares of Atlassian by 20.3% during the first quarter. State of Wyoming now owns 278 shares of the technology company's stock valued at $59,000 after purchasing an additional 47 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.
Key Stores Impacting Atlassian
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
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on TEAM shares. Zacks Research raised Atlassian from a "strong sell" rating to a "hold" rating in a report on Monday, November 3rd. Bank of America assumed coverage on Atlassian in a research note on Tuesday, September 23rd. They issued a "neutral" rating and a $200.00 price objective on the stock. Piper Sandler reiterated an "overweight" rating and set a $300.00 price objective on shares of Atlassian in a research note on Friday, October 31st. Weiss Ratings reissued a "sell (e+)" rating on shares of Atlassian in a report on Wednesday, October 8th. Finally, BTIG Research assumed coverage on shares of Atlassian in a report on Tuesday, December 16th. They set a "buy" rating and a $220.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Atlassian has a consensus rating of "Moderate Buy" and a consensus price target of $239.23.
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About Atlassian
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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.
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