Atlassian (NASDAQ:TEAM) Sets New 1-Year Low on Insider Selling

Shares of Atlassian Corporation PLC (NASDAQ:TEAM) reached a new 52-week low during trading on Wednesday after an insider sold shares in the company. The stock traded as low as $154.56 and last traded at $154.27, with a volume of 665984 shares. The stock had previously closed at $159.70.

Specifically, CEO Michael Cannon-Brookes sold 7,665 shares of the company’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $166.36, for a total transaction of $1,275,149.40. Following the completion of the transaction, the chief executive officer directly owned 7,665 shares in the company, valued at $1,275,149.40. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott Farquhar sold 7,665 shares of the firm’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $166.36, for a total transaction of $1,275,149.40. Following the completion of the sale, the director owned 7,665 shares in the company, valued at approximately $1,275,149.40. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. In related news, Director Scott Farquhar sold 7,665 shares of the company’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $165.26, for a total transaction of $1,266,717.90. Following the completion of the transaction, the director directly owned 15,330 shares in the company, valued at $2,533,435.80. This represents a 33.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. BMO Capital Markets dropped their price objective on shares of Atlassian from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Truist Financial set a $230.00 price target on Atlassian in a research note on Friday, August 8th. Zacks Research upgraded Atlassian from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 20th. Cantor Fitzgerald lowered their price objective on Atlassian from $256.00 to $240.00 and set an “overweight” rating on the stock in a research report on Friday, August 8th. Finally, Canaccord Genuity Group reduced their target price on Atlassian from $255.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.74.

Atlassian Price Performance

The stock has a market capitalization of $39.62 billion, a P/E ratio of -152.57 and a beta of 0.92. The company’s 50 day simple moving average is $172.72 and its two-hundred day simple moving average is $196.11. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.22.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, August 7th. The technology company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.83 by $0.15. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. Atlassian had a negative return on equity of 14.77% and a negative net margin of 4.92%.Atlassian’s revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 EPS. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, equities analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Institutional Trading of Atlassian

Several large investors have recently made changes to their positions in the business. Clean Yield Group increased its stake in shares of Atlassian by 372.0% in the first quarter. Clean Yield Group now owns 118 shares of the technology company’s stock valued at $25,000 after buying an additional 93 shares in the last quarter. Capco Asset Management LLC bought a new stake in Atlassian during the 2nd quarter worth about $25,000. Smithfield Trust Co increased its position in Atlassian by 90.7% in the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company’s stock valued at $34,000 after acquiring an additional 78 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Atlassian by 447.2% in the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after acquiring an additional 161 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of Atlassian by 25.9% during the first quarter. First Horizon Advisors Inc. now owns 267 shares of the technology company’s stock worth $57,000 after purchasing an additional 55 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Atlassian Company Profile

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.