Atlassian (NASDAQ:TEAM) Hits New 52-Week Low After Insider Selling

Atlassian Corporation PLC (NASDAQ:TEAM) hit a new 52-week low on Tuesday after an insider sold shares in the company. The stock traded as low as $138.22 and last traded at $139.3810, with a volume of 1284884 shares. The stock had previously closed at $146.44.

Specifically, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $145.91, for a total transaction of $1,118,400.15. Following the sale, the chief executive officer owned 421,575 shares of the company’s stock, valued at $61,512,008.25. This represents a 1.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,665 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $145.91, for a total transaction of $1,118,400.15. Following the completion of the transaction, the director owned 421,575 shares of the company’s stock, valued at $61,512,008.25. This trade represents a 1.79% decrease in their position. The disclosure for this sale is available in the SEC filing. In other news, Director Scott Farquhar sold 7,665 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $161.11, for a total transaction of $1,234,908.15. Following the transaction, the director owned 429,240 shares of the company’s stock, valued at $69,154,856.40. This represents a 1.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TEAM shares. Bank of America began coverage on shares of Atlassian in a research note on Tuesday, September 23rd. They issued a “neutral” rating and a $200.00 price objective on the stock. Truist Financial set a $210.00 price target on Atlassian in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a research note on Wednesday, October 8th. UBS Group cut their target price on Atlassian from $215.00 to $185.00 and set a “neutral” rating on the stock in a research note on Friday, October 24th. Finally, Sanford C. Bernstein raised their target price on Atlassian from $290.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, November 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $238.46.

Trending Headlines about Atlassian

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Brokerage sentiment remains constructive — multiple firms maintain Buy ratings and the Street consensus target (~$238) is well above the current price, implying significant upside if execution continues. 12 Analysts Assess Atlassian: What You Need To Know
• Positive Sentiment: BTIG reaffirmed a Buy rating and set a $220 price target, signaling confidence from at least one mid-/long-term analyst view (large upside from current levels). Benzinga
• Positive Sentiment: Partnership/security upgrade: Keeper Security rolled out KeeperPAM to strengthen the Atlassian Williams F1 Team’s cyber defenses — a positive for corporate security posture and brand/partner ecosystem. Keeper Security Strengthens Atlassian Williams F1 Team’s Cyber Defenses With KeeperPAM
• Neutral Sentiment: Brand/marketing: Atlassian Williams F1 Team announced a driver appointment (Victor Martins), which supports branding and sponsorship visibility but has limited direct financial impact. Atlassian Williams F1 Team strengthens lineup with Victor Martins appointment
• Neutral Sentiment: Short-interest data in these feeds is inconsistent (reported as 0 shares / 0 days to cover) — treat as unreliable until a formal exchange report confirms any material change. MarketBeat TEAM page
• Negative Sentiment: Insider selling: CEO Michael Cannon-Brookes and co-founder/director Scott Farquhar have sold multiple blocks of shares (7,665 shares in recent filings). Clustered insider sales can pressure price and signal liquidity-taking by insiders. SEC insider-sale filing

Atlassian Stock Down 4.4%

The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $36.82 billion, a P/E ratio of -196.94, a PEG ratio of 22.67 and a beta of 0.88. The firm’s 50 day moving average price is $156.31 and its two-hundred day moving average price is $168.73.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.83 by $0.21. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. The firm’s revenue was up 20.6% on a year-over-year basis. Equities research analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Institutional Trading of Atlassian

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capco Asset Management LLC acquired a new position in Atlassian during the second quarter valued at approximately $25,000. Physician Wealth Advisors Inc. raised its stake in shares of Atlassian by 60.4% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after purchasing an additional 61 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Atlassian by 447.2% during 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% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after buying an additional 199 shares during the last quarter. Finally, Board of the Pension Protection Fund acquired a new position in Atlassian during the fourth quarter worth $32,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

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.