Atlassian Corporation PLC $TEAM Stock Position Raised by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC has increased its stake in Atlassian Corporation PLC by 68.9%, now owning 951,429 shares valued at approximately $201.9 million.
• Atlassian reported earnings of $0.98 per share, exceeding analyst expectations, with quarterly revenue increasing by 22.3% year-over-year to $1.38 billion.
• Institutional investors own 94.45% of Atlassian's stock, indicating a strong investment backing by large financial entities.

Acadian Asset Management LLC lifted its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 68.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 951,429 shares of the technology company's stock after purchasing an additional 388,196 shares during the quarter. Acadian Asset Management LLC owned about 0.36% of Atlassian worth $201,875,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Geneos Wealth Management Inc. raised its position in shares of Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock worth $42,000 after purchasing an additional 161 shares during the period. Belpointe Asset Management LLC increased its position in Atlassian by 12.2% in the 1st quarter. Belpointe Asset Management LLC now owns 4,306 shares of the technology company's stock valued at $914,000 after acquiring an additional 468 shares during the period. Fortis Capital Advisors LLC increased its position in Atlassian by 12.2% in the 1st quarter. Fortis Capital Advisors LLC now owns 4,306 shares of the technology company's stock valued at $914,000 after acquiring an additional 468 shares during the period. Focus Partners Wealth increased its position in Atlassian by 32.6% in the 1st quarter. Focus Partners Wealth now owns 4,122 shares of the technology company's stock valued at $875,000 after acquiring an additional 1,014 shares during the period. Finally, Plato Investment Management Ltd increased its position in Atlassian by 17.7% in the 1st quarter. Plato Investment Management Ltd now owns 6,465 shares of the technology company's stock valued at $1,387,000 after acquiring an additional 974 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on TEAM. BMO Capital Markets lowered their target price on Atlassian from $225.00 to $200.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Citigroup lowered their target price on Atlassian from $300.00 to $240.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. Cantor Fitzgerald lowered their target price on Atlassian from $256.00 to $240.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. 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. Finally, Capital One Financial cut Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 target price on the stock. in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $255.45.

Atlassian Price Performance

Shares of TEAM stock traded down $1.84 during mid-day trading on Friday, hitting $174.87. 1,384,717 shares of the stock traded hands, compared to its average volume of 2,159,024. Atlassian Corporation PLC has a twelve month low of $154.07 and a twelve month high of $326.00. The firm has a market cap of $45.87 billion, a price-to-earnings ratio of -176.63 and a beta of 0.95. The company's 50-day simple moving average is $182.36 and its 200-day simple moving average is $204.16. 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 (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share (EPS) 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 analysts' expectations of $1.36 billion. During the same period last year, the firm earned $0.66 EPS. The firm'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. As a group, equities research analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,665 shares of the firm's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $175.76, for a total transaction of $1,347,200.40. Following the completion of the sale, the chief executive officer directly owned 99,645 shares of the company's stock, valued at $17,513,605.20. This trade represents a 7.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Scott Farquhar sold 7,665 shares of the firm's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $175.76, for a total value of $1,347,200.40. Following the sale, the director directly owned 99,645 shares of the company's stock, valued at approximately $17,513,605.20. This represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 536,278 shares of company stock valued at $100,612,557. Corporate insiders own 38.55% of the company's stock.

About Atlassian

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.