Fred Alger Management LLC Invests $932,000 in Atlassian Corporation PLC $TEAM

Key Points

• Fred Alger Management LLC acquired 4,393 shares of Atlassian Corporation PLC valued at approximately $932,000 during the first quarter.
• Multiple institutional investors, including Cetera Investment Advisers and Janus Henderson Group PLC, have recently increased their stakes in Atlassian, reflecting strong interest in the company.
• Analysts have adjusted their price targets for Atlassian, with Cantor Fitzgerald lowering theirs from $256 to $240 while maintaining an "overweight" rating.

Fred Alger Management LLC bought a new stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,393 shares of the technology company's stock, valued at approximately $932,000.

Several other large investors have also modified their holdings of the business. Clean Yield Group lifted its stake in Atlassian by 372.0% during the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after acquiring an additional 93 shares in the last quarter. Smithfield Trust Co raised its position in Atlassian by 90.7% in the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after purchasing an additional 78 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Atlassian by 82.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company's stock valued at $52,000 after acquiring an additional 110 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Atlassian by 25.9% in the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the technology company's stock valued at $57,000 after acquiring an additional 55 shares during the last quarter. Finally, State of Wyoming increased its holdings in shares of Atlassian by 20.3% in the 1st quarter. State of Wyoming now owns 278 shares of the technology company's stock valued at $59,000 after acquiring an additional 47 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Insider Buying and Selling

In related news, CEO Michael Cannon-Brookes sold 7,665 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $203.66, for a total value of $1,561,053.90. Following the transaction, the chief executive officer owned 7,665 shares in the company, valued at approximately $1,561,053.90. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Anutthara Bharadwaj sold 7,728 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $163.43, for a total value of $1,262,987.04. Following the completion of the transaction, the president owned 182,801 shares in the company, valued at approximately $29,875,167.43. This trade 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 currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on TEAM. Mizuho dropped their price target on Atlassian from $265.00 to $235.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Raymond James Financial decreased their price target on Atlassian from $300.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Cantor Fitzgerald reduced their price objective on Atlassian from $256.00 to $240.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Oppenheimer cut their price target on Atlassian from $300.00 to $275.00 and set an "outperform" rating for the company in a report on Monday, July 21st. Finally, UBS Group reissued a "hold" rating on shares of Atlassian in a report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Atlassian has an average rating of "Moderate Buy" and an average target price of $255.45.

Atlassian Stock Down 1.0%

Shares of TEAM stock traded down $1.84 during trading hours on Friday, reaching $174.87. The company had a trading volume of 1,384,717 shares, compared to its average volume of 2,159,024. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.22 and a current ratio of 1.22. Atlassian Corporation PLC has a twelve month low of $154.07 and a twelve month high of $326.00. The company has a market capitalization of $45.87 billion, a P/E ratio of -176.63 and a beta of 0.95. The stock's fifty day simple moving average is $182.36 and its 200 day simple moving average is $204.16.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.15. Atlassian had a negative return on equity of 14.77% and a negative net margin of 4.92%.The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the firm earned $0.66 earnings per share. The company's revenue for the quarter 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, sell-side analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

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.