1832 Asset Management L.P. Has $91.42 Million Stake in Atlassian Corporation PLC $TEAM

Key Points

• 1832 Asset Management L.P. increased its stake in Atlassian Corporation PLC by 51.2% during the first quarter, acquiring a total of 430,800 shares worth approximately $91.42 million.
• Atlassian reported earnings per share (EPS) of $0.98 for the recent quarter, surpassing the consensus estimate of $0.83, and achieved a year-over-year revenue growth of 22.3%.
• Multiple institutional investors have recently enhanced their positions in Atlassian, with 94.45% of the stock now owned by hedge funds and institutional players.

1832 Asset Management L.P. increased its holdings in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 51.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 430,800 shares of the technology company's stock after buying an additional 145,900 shares during the period. 1832 Asset Management L.P. owned 0.16% of Atlassian worth $91,420,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TEAM. NewEdge Advisors LLC raised its position in shares of Atlassian by 41.2% in the fourth quarter. NewEdge Advisors LLC now owns 3,165 shares of the technology company's stock valued at $770,000 after buying an additional 924 shares in the last quarter. GeoWealth Management LLC grew its holdings in shares of Atlassian by 26.8% during the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock worth $44,000 after purchasing an additional 38 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Atlassian by 3.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 157,752 shares of the technology company's stock worth $38,398,000 after purchasing an additional 5,878 shares in the last quarter. MML Investors Services LLC grew its holdings in shares of Atlassian by 8.0% during the 4th quarter. MML Investors Services LLC now owns 15,110 shares of the technology company's stock worth $3,678,000 after purchasing an additional 1,121 shares in the last quarter. Finally, IHT Wealth Management LLC acquired a new stake in shares of Atlassian during the 4th quarter worth $208,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on TEAM. UBS Group reissued a "hold" rating on shares of Atlassian in a report on Monday, July 7th. Citigroup reduced their target price on Atlassian from $300.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, August 18th. Mizuho lowered their price objective on shares of Atlassian from $265.00 to $235.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Cantor Fitzgerald lowered their price objective on shares of Atlassian from $256.00 to $240.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Finally, Capital One Financial downgraded shares of Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price objective for the company. in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $256.90.

Insider Transactions at Atlassian

In other news, President Anutthara Bharadwaj sold 7,728 shares of the company's stock in a transaction on Thursday, August 14th. The shares were 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 in the company, valued at approximately $29,875,167.43. This represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $216.09, for a total transaction of $1,717,483.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 509,568 shares of company stock worth $98,932,371. Corporate insiders own 38.55% of the company's stock.

Atlassian Price Performance

Shares of NASDAQ:TEAM traded down $4.42 during trading on Tuesday, hitting $164.25. 2,280,070 shares of the company were exchanged, compared to its average volume of 2,381,838. The business's 50 day moving average is $190.04 and its 200-day moving average is $215.67. The company has a market capitalization of $43.09 billion, a P/E ratio of -165.91 and a beta of 0.96. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. Atlassian Corporation PLC has a 1-year low of $154.07 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced 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 company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. Atlassian had a negative net margin of 4.92% and a negative return on equity of 14.77%. The company's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 earnings per share. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. Equities analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

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.