Atlassian Corporation PLC $TEAM Shares Purchased by Abacus FCF Advisors LLC

Key Points

• Abacus FCF Advisors LLC increased its stock position in Atlassian Corporation PLC by 20.3% in Q2, now owning 73,937 shares valued at approximately $15 million.
• A variety of institutional investors have also boosted their stakes in Atlassian, with collective ownership currently at 94.45% among such entities.
• CEO Michael Cannon-Brookes and director Scott Farquhar each sold 7,665 shares of Atlassian stock, reflecting an 11.11% decrease in their holdings.

Abacus FCF Advisors LLC raised its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 20.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,937 shares of the technology company's stock after buying an additional 12,476 shares during the quarter. Atlassian comprises 2.1% of Abacus FCF Advisors LLC's investment portfolio, making the stock its 22nd largest holding. Abacus FCF Advisors LLC's holdings in Atlassian were worth $15,016,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in TEAM. State of Wyoming increased its position in Atlassian by 20.3% during the 1st quarter. State of Wyoming now owns 278 shares of the technology company's stock valued at $59,000 after purchasing an additional 47 shares during the period. First Citizens Bank & Trust Co. grew its holdings in shares of Atlassian by 4.7% during the first quarter. First Citizens Bank & Trust Co. now owns 1,192 shares of the technology company's stock worth $253,000 after buying an additional 54 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of Atlassian by 25.9% during 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. Fulton Bank N.A. lifted its position in Atlassian by 3.1% in the first quarter. Fulton Bank N.A. now owns 1,892 shares of the technology company's stock valued at $402,000 after buying an additional 57 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its position in shares of Atlassian by 2.9% during the first quarter. Yousif Capital Management LLC now owns 2,063 shares of the technology company's stock worth $438,000 after purchasing an additional 58 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Insider Activity at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $173.56, for a total value of $1,330,337.40. Following the sale, the chief executive officer directly owned 61,320 shares of the company's stock, valued at $10,642,699.20. This represents a 11.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,665 shares of the firm's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $173.56, for a total transaction of $1,330,337.40. Following the completion of the transaction, the director directly owned 61,320 shares of the company's stock, valued at approximately $10,642,699.20. This represents a 11.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 536,278 shares of company stock worth $99,596,944 over the last 90 days. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Stock Performance

NASDAQ:TEAM traded down $0.58 on Friday, hitting $169.05. The company's stock had a trading volume of 2,754,523 shares, compared to its average volume of 2,185,951. The firm has a market capitalization of $44.35 billion, a P/E ratio of -170.76 and a beta of 0.95. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73. Atlassian Corporation PLC has a one year low of $155.37 and a one year high of $326.00. The stock has a fifty day moving average of $178.63 and a two-hundred day moving average of $199.53.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the business posted $0.66 EPS. Atlassian's revenue for the quarter was up 22.3% on a year-over-year basis. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. Research analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Raymond James Financial decreased their price target on Atlassian from $300.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Canaccord Genuity Group cut 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. Truist Financial set a $230.00 price objective on Atlassian in a research note on Friday, August 8th. Stephens decreased their target price on Atlassian from $221.00 to $202.00 and set an "equal weight" rating for the company in a research note on Monday, August 11th. Finally, Cantor Fitzgerald reduced their price objective on Atlassian from $256.00 to $240.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average 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.