Atlassian Corporation PLC $TEAM Shares Bought by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners increased its stake in Atlassian Corporation by 332.0% in Q1, owning 54,000 shares valued at approximately $11.46 million after purchasing an additional 41,500 shares.
• Several hedge funds also raised their stakes in Atlassian during the same quarter, highlighting strong institutional interest as 94.45% of the stock is now owned by hedge funds and institutional investors.
• In recent transactions, both CEO Michael Cannon-Brookes and Director Scott Farquhar sold shares, indicating a 14.29% and 16.67% decrease in their respective positions.

Adage Capital Partners GP L.L.C. grew its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 332.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,000 shares of the technology company's stock after purchasing an additional 41,500 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in Atlassian were worth $11,459,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TEAM. Federation des caisses Desjardins du Quebec increased its position in Atlassian by 135.8% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 12,558 shares of the technology company's stock valued at $2,665,000 after buying an additional 7,233 shares in the last quarter. Unisphere Establishment acquired a new stake in Atlassian during the first quarter worth about $6,960,000. EP Wealth Advisors LLC boosted its position in Atlassian by 2.8% in the 1st quarter. EP Wealth Advisors LLC now owns 2,641 shares of the technology company's stock worth $561,000 after purchasing an additional 71 shares in the last quarter. 1248 Management LLC purchased a new position in Atlassian in the first quarter valued at $312,000. Finally, Paloma Partners Management Co increased its stake in shares of Atlassian by 1,022.3% in the 1st quarter. Paloma Partners Management Co now owns 27,518 shares of the technology company's stock valued at $5,840,000 after purchasing an additional 25,066 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Atlassian Stock Up 5.6%

Shares of NASDAQ:TEAM traded up $9.66 during trading on Tuesday, hitting $182.36. The company's stock had a trading volume of 3,624,122 shares, compared to its average volume of 2,410,099. Atlassian Corporation PLC has a fifty-two week low of $154.07 and a fifty-two week high of $326.00. The business has a 50 day moving average price of $184.52 and a two-hundred day moving average price of $205.87. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $47.84 billion, a PE ratio of -184.20 and a beta of 0.95.

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 for the quarter, topping 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 in the prior year, the business earned $0.66 EPS. Atlassian's revenue 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, research analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael Cannon-Brookes sold 7,665 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $171.59, for a total transaction of $1,315,237.35. Following the transaction, the chief executive officer owned 122,640 shares in the company, valued at $21,043,797.60. This trade represents a 5.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Scott Belsky acquired 1,455 shares of the firm's stock in a transaction on Thursday, August 28th. The shares were bought at an average cost of $173.00 per share, with a total value of $251,715.00. Following the completion of the transaction, the director directly owned 1,455 shares in the company, valued at $251,715. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 536,278 shares of company stock worth $100,977,258 over the last 90 days. 38.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TEAM. Zacks Research raised Atlassian from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 20th. BMO Capital Markets cut their price objective on Atlassian from $225.00 to $200.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Canaccord Genuity Group decreased 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 target on Atlassian in a research report on Friday, August 8th. Finally, Oppenheimer decreased their price objective on Atlassian from $300.00 to $275.00 and set an "outperform" rating on the stock in a report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Atlassian presently has a consensus rating of "Moderate Buy" and an average target price of $256.90.

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.