Atlassian (NASDAQ:TEAM) Trading Down 7.2% on Insider Selling

Atlassian Corporation PLC (NASDAQ:TEAM) shares fell 7.2% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $106.71 and last traded at $105.5180. 448,177 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 4,586,279 shares. The stock had previously closed at $113.70.

Specifically, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $119.15, for a total transaction of $913,284.75. Following the completion of the sale, the chief executive officer owned 314,265 shares of the company’s stock, valued at $37,444,674.75. The trade was a 2.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,665 shares of the stock in a transaction on Friday, January 30th. The shares were sold at an average price of $119.15, for a total transaction of $913,284.75. Following the transaction, the director directly owned 314,265 shares in the company, valued at approximately $37,444,674.75. The trade was a 2.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In other Atlassian news, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of $135.44, for a total transaction of $1,038,147.60. Following the sale, the chief executive officer owned 321,930 shares of the company’s stock, valued at $43,602,199.20. The trade was a 2.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Truist Financial set a $210.00 price target on shares of Atlassian in a research report on Friday, October 31st. Sanford C. Bernstein lifted their price objective on shares of Atlassian from $290.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, November 18th. Macquarie decreased their target price on Atlassian from $250.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. UBS Group set a $145.00 price target on shares of Atlassian in a report on Tuesday, January 27th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Atlassian in a research report on Tuesday, January 13th. Twenty research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus target price of $227.60.

More Atlassian News

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Multi?year AI partnership — Atlassian/Williams F1 announced integrating Anthropic’s Claude as the team’s “Official Thinking Partner,” a high?visibility AI tie?up that can boost product positioning and enterprise credibility for Atlassian’s AI roadmap. Anthropic and Atlassian Williams F1 Team announce multi-year partnership
• Positive Sentiment: Analyst bullishness on AI/cloud tailwinds — a Zacks preview expects Q2 to benefit from cloud adoption, AI tools and continued demand for Jira/Confluence, supporting revenue upside into earnings. Atlassian to Report Q2 Earnings: What’s in Store for the Stock?
• Positive Sentiment: Wall Street upside call — a MarketBeat/Fool mention lists Atlassian among AI?exposed software names that some analysts think could deliver triple?digit percentage gains over the next year, reinforcing a thematic recovery case. Software Bear Market: 2 AI Stocks to Buy Before They Soar 102% and 170%
• Neutral Sentiment: Positive media/bull?case coverage — several outlets (MSN, Variety) are running bullish takes on Atlassian’s AI potential; useful for sentiment but not a direct company update. Atlassian Corporation (TEAM): A bull case theory
• Neutral Sentiment: Technical/short data immaterial — recent short interest reporting shows effectively zero reported short shares and a 0.0 days?to?cover metric; the figure appears non?informative for current price action.
• Negative Sentiment: Insider selling from top executives — CEO Michael Cannon?Brookes sold 7,665 shares on Jan. 30 (filed with the SEC), and similar blocks were sold repeatedly in January; large insider sales are weighing on sentiment and can amplify downward pressure. SEC filing — CEO sale
• Negative Sentiment: Co?founder/director sale — Scott Farquhar disclosed an identical 7,665?share sale on Jan. 30; concurrent sales by both founders increase perceived risk to near?term investor conviction even if explained by diversification/planned transactions. SEC filing — Director sale

Atlassian Trading Down 7.9%

The business has a fifty day simple moving average of $148.33 and a 200 day simple moving average of $160.59. 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 company has a market cap of $27.54 billion, a price-to-earnings ratio of -148.78, a P/E/G ratio of 18.30 and a beta of 0.88.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TEAM. NewEdge Advisors LLC grew its holdings in 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 purchasing an additional 2,267 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Atlassian by 39.5% during the first quarter. Empowered Funds LLC now owns 4,689 shares of the technology company’s stock valued at $995,000 after buying an additional 1,328 shares during the period. Focus Partners Wealth lifted its stake in shares of Atlassian by 32.6% during 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 period. Geneos Wealth Management Inc. boosted 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 buying an additional 161 shares during the last quarter. Finally, Sivia Capital Partners LLC lifted its holdings in shares of Atlassian by 27.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company’s stock worth $380,000 after acquiring an additional 404 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

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.