Alyeska Investment Group L.P. Cuts Stock Position in Atlassian Corporation PLC $TEAM

Key Points

• Alyeska Investment Group L.P. reduced its stake in Atlassian Corporation by 75.8%, resulting in ownership of 94,288 shares worth approximately $20 million.
• Various other hedge funds have increased their positions in Atlassian, with Principal Financial Group notably increasing its stake by 350.1%.
• Atlassian reported a 22.3% year-over-year revenue growth in its last earnings report, with EPS of $0.98, surpassing analysts' expectations of $0.83.

Alyeska Investment Group L.P. reduced its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 75.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 94,288 shares of the technology company's stock after selling 295,111 shares during the period. Alyeska Investment Group L.P.'s holdings in Atlassian were worth $20,009,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Nuveen LLC acquired a new position in shares of Atlassian in the first quarter valued at $327,665,000. Whale Rock Capital Management LLC acquired a new stake in Atlassian during the 4th quarter valued at approximately $170,943,000. Massachusetts Financial Services Co. MA increased its position in Atlassian by 21.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,440,813 shares of the technology company's stock valued at $730,175,000 after purchasing an additional 616,071 shares during the period. Vanguard Group Inc. grew its position in shares of Atlassian by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 16,993,537 shares of the technology company's stock worth $3,606,198,000 after buying an additional 580,583 shares during the period. Finally, Baillie Gifford & Co. lifted its holdings in shares of Atlassian by 7.1% in the 1st quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company's stock worth $1,845,114,000 after purchasing an additional 573,696 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Insider Buying and Selling at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,665 shares of the business's stock in a transaction dated 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 sale, the director owned 122,640 shares in the company, valued at approximately $21,043,797.60. The trade was a 5.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott Belsky bought 1,455 shares of the stock in a transaction dated Thursday, August 28th. The stock was bought at an average price of $173.00 per share, for a total transaction of $251,715.00. Following the purchase, the director directly owned 1,455 shares of the company's stock, valued at approximately $251,715. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 536,278 shares of company stock worth $100,977,258. 38.55% of the stock is currently owned by insiders.

Atlassian Price Performance

TEAM traded down $7.08 on Wednesday, hitting $175.28. 716,303 shares of the company's stock traded hands, compared to its average volume of 2,385,903. 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 $154.07 and a one year high of $326.00. The company's 50 day simple moving average is $184.52 and its 200-day simple moving average is $205.87. The firm has a market cap of $45.98 billion, a price-to-earnings ratio of -177.17 and a beta of 0.95.

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 (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the company posted $0.66 EPS. The company's revenue 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, research analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. 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 note on Wednesday, July 16th. Barclays cut their price objective on Atlassian from $244.00 to $215.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Wall Street Zen lowered Atlassian from a "buy" rating to a "hold" rating in a research note on Friday, September 5th. Raymond James Financial lowered their price objective on Atlassian from $300.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Finally, Stephens decreased their target price on Atlassian from $221.00 to $202.00 and set an "equal weight" rating for the company in a report on Monday, August 11th. One equities research 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. According to MarketBeat, the stock currently has an average 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.