Allspring Global Investments Holdings LLC Grows Position in Atlassian Corporation PLC $TEAM

Key Points

• Allspring Global Investments Holdings LLC significantly increased its stake in Atlassian Corporation by 6,620.2% in the second quarter, owning 255,302 shares valued at approximately $53 million.
• Research analysts have adjusted their price targets for Atlassian, with Canaccord Genuity reducing its target to $230.00 and Wells Fargo initiating coverage with an overweight rating and a price target of $216.00.
• CEO Michael Cannon-Brookes and President Anutthara Bharadwaj both sold shares recently, with Cannon-Brookes selling 7,665 shares for around $1.5 million, resulting in a decrease in their ownership stakes.

Allspring Global Investments Holdings LLC boosted its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 6,620.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 255,302 shares of the technology company's stock after purchasing an additional 251,503 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.10% of Atlassian worth $53,029,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TEAM. Farther Finance Advisors LLC grew its position in Atlassian by 37.7% during the 1st quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company's stock worth $80,000 after purchasing an additional 101 shares during the last quarter. Yousif Capital Management LLC grew its position in Atlassian by 2.9% during the 1st 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 during the last quarter. GAMMA Investing LLC grew its position in Atlassian by 96.9% during the 1st quarter. GAMMA Investing LLC now owns 571 shares of the technology company's stock worth $121,000 after purchasing an additional 281 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Atlassian by 70.3% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 21,407 shares of the technology company's stock worth $4,543,000 after purchasing an additional 8,840 shares during the last quarter. Finally, Brighton Jones LLC purchased a new stake in Atlassian during the 1st quarter worth approximately $206,000. Hedge funds and other institutional investors own 94.45% of the company's stock.

Wall Street Analyst Weigh In

TEAM has been the topic of several recent research reports. Canaccord Genuity Group dropped their price objective on shares of Atlassian from $255.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Stephens dropped their price objective on shares of Atlassian from $221.00 to $202.00 and set an "equal weight" rating on the stock in a report on Monday, August 11th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Atlassian in a report on Wednesday, October 8th. KeyCorp dropped their price objective on shares of Atlassian from $275.00 to $250.00 and set an "overweight" rating on the stock in a report on Thursday, July 17th. Finally, Wells Fargo & Company initiated coverage on shares of Atlassian in a report on Tuesday, September 30th. They issued an "overweight" rating and a $216.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Atlassian currently has a consensus rating of "Moderate Buy" and a consensus price target of $248.74.

Atlassian Stock Performance

TEAM opened at $156.37 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. The company has a market cap of $41.02 billion, a price-to-earnings ratio of -157.95 and a beta of 0.92. Atlassian Corporation PLC has a 52-week low of $144.32 and a 52-week high of $326.00. The firm's fifty day simple moving average is $165.73 and its two-hundred day simple moving average is $191.60.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $1.38 billion for 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 was up 22.3% compared to the same quarter last year. During the same period last year, the firm posted $0.66 earnings per share. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. Equities analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $197.88, for a total value of $1,516,750.20. Following the completion of the sale, the chief executive officer directly owned 329,595 shares in the company, valued at $65,220,258.60. This represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Anutthara Bharadwaj sold 7,728 shares of the stock in a transaction dated 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 sale, the president owned 182,801 shares of the company's stock, valued at $29,875,167.43. This trade represents a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 551,608 shares of company stock valued at $95,200,454 over the last ninety days. Corporate insiders own 38.55% of the company's stock.

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.

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