1248 Management LLC Takes $312,000 Position in Atlassian Corporation PLC $TEAM

Key Points

• 1248 Management LLC has invested approximately $312,000 in Atlassian Corporation PLC by acquiring 1,471 shares during the first quarter.
• Several institutional investors, including Vanguard Group Inc. and Massachusetts Financial Services Co., have also increased their holdings in Atlassian, reflecting a strong institutional interest in the company.
• Atlassian reported a 22.3% increase in revenue year-over-year, with earnings per share (EPS) of $0.98, surpassing analysts' expectations of $0.83.

1248 Management LLC purchased a new position 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 firm purchased 1,471 shares of the technology company's stock, valued at approximately $312,000.

A number of other institutional investors have also made changes to their positions in the business. Paloma Partners Management Co increased its position in Atlassian by 1,022.3% during the 1st quarter. Paloma Partners Management Co now owns 27,518 shares of the technology company's stock worth $5,840,000 after buying an additional 25,066 shares during the period. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Atlassian in the first quarter valued at about $936,000. Graham Capital Management L.P. acquired a new stake in Atlassian during the first quarter worth approximately $6,037,000. Benchstone Capital Management LP boosted its holdings in Atlassian by 17.4% in the first quarter. Benchstone Capital Management LP now owns 129,435 shares of the technology company's stock worth $27,467,000 after acquiring an additional 19,147 shares in the last quarter. Finally, Ardmore Road Asset Management LP lifted its holdings in shares of Atlassian by 471.4% in the first quarter. Ardmore Road Asset Management LP now owns 200,000 shares of the technology company's stock valued at $42,442,000 after purchasing an additional 165,000 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TEAM has been the topic of a number of research analyst reports. Zacks Research upgraded Atlassian from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 20th. Stephens dropped their price target on Atlassian from $221.00 to $202.00 and set an "equal weight" rating on the stock in a research note on Monday, August 11th. Canaccord Genuity Group lowered their target price on Atlassian from $255.00 to $230.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Oppenheimer decreased 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. Finally, Cantor Fitzgerald reduced their price objective on Atlassian from $256.00 to $240.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $256.90.

Atlassian Trading Down 1.2%

TEAM traded down $2.00 during trading hours on Wednesday, reaching $170.68. The company's stock had a trading volume of 2,805,970 shares, compared to its average volume of 3,057,627. Atlassian Corporation PLC has a fifty-two week low of $154.07 and a fifty-two week high of $326.00. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.22. The business's 50-day moving average is $186.84 and its 200-day moving average is $210.12. The stock has a market cap of $44.77 billion, a PE ratio of -172.40 and a beta of 0.95.

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

Insider Buying and Selling

In related news, Director Scott Belsky bought 1,455 shares of the company's stock in a transaction dated Thursday, August 28th. The stock was bought at an average price of $173.00 per share, with a total value of $251,715.00. Following the transaction, the director owned 1,455 shares of the company's stock, valued at approximately $251,715. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the business's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $177.83, for a total transaction of $1,363,066.95. Following the transaction, the chief executive officer directly owned 160,965 shares of the company's stock, valued at $28,624,405.95. The trade was a 4.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 521,514 shares of company stock worth $99,822,422. 38.55% of the stock is owned by insiders.

Atlassian 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.