1,948 Shares in Atlassian Corporation PLC $TEAM Acquired by 1248 Management LLC

Key Points

• 1248 Management LLC has acquired a new stake in Atlassian Corporation PLC, purchasing 1,948 shares valued at approximately $413,000.
• Multiple institutional investors, including Clean Yield Group and Smithfield Trust Co, have significantly increased their holdings in Atlassian during the 1st quarter, demonstrating growing investor confidence.
• Despite recent earnings results exceeding expectations, several analysts have lowered their price targets and ratings for Atlassian, which now has an average target price of $255.45.

1248 Management LLC purchased a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,948 shares of the technology company's stock, valued at approximately $413,000.

A number of other hedge funds also recently made changes to their positions in the business. First Hawaiian Bank bought a new stake in shares of Atlassian during the first quarter valued at approximately $292,000. Strs Ohio bought a new stake in shares of Atlassian during the first quarter valued at approximately $21,914,000. Diker Management LLC bought a new stake in shares of Atlassian during the first quarter valued at approximately $849,000. Acadian Asset Management LLC raised its holdings in shares of Atlassian by 68.9% during the first quarter. Acadian Asset Management LLC now owns 951,429 shares of the technology company's stock valued at $201,875,000 after buying an additional 388,196 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock valued at $42,000 after buying an additional 161 shares during the last quarter. Institutional investors own 94.45% of the company's stock.

Insiders Place Their Bets

In related news, CEO Michael Cannon-Brookes sold 7,665 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $203.66, for a total value of $1,561,053.90. Following the completion of the transaction, the chief executive officer owned 7,665 shares of the company's stock, valued at approximately $1,561,053.90. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 7,728 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $163.43, for a total transaction of $1,262,987.04. Following the completion of the transaction, the president directly owned 182,801 shares of the company's stock, valued at $29,875,167.43. This represents a 4.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 536,278 shares of company stock worth $100,612,557. 38.55% of the stock is owned by insiders.

Atlassian Price Performance

Atlassian stock traded down $1.84 during mid-day trading on Friday, hitting $174.87. The company's stock had a trading volume of 1,384,717 shares, compared to its average volume of 2,091,133. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $45.87 billion, a P/E ratio of -176.63 and a beta of 0.95. Atlassian Corporation PLC has a twelve month low of $154.07 and a twelve month high of $326.00. The stock's fifty day moving average price is $182.36 and its two-hundred day moving average price is $203.05.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.15. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. Atlassian had a negative net margin of 4.92% and a negative return on equity of 14.77%. The firm's quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 earnings per share. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. Research analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TEAM shares. Oppenheimer cut their price target on Atlassian from $300.00 to $275.00 and set an "outperform" rating on the stock in a report on Monday, July 21st. Guggenheim assumed coverage on shares of Atlassian in a research note on Thursday. They set a "buy" rating and a $225.00 price objective on the stock. Truist Financial set a $230.00 price objective on shares of Atlassian in a research note on Friday, August 8th. BMO Capital Markets lowered their price objective on shares of Atlassian from $225.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Finally, UBS Group reiterated a "hold" rating on shares of Atlassian in a research note on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Atlassian has an average rating of "Moderate Buy" and a consensus target price of $255.45.

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.