APG Asset Management N.V. Reduces Stock Holdings in Atlassian Corporation PLC $TEAM

Key Points

• APG Asset Management N.V. reduced its stake in Atlassian Corporation by 3.5%, holding 91,838 shares valued at approximately $18 million after selling 3,303 shares in the first quarter.
• Several institutional investors increased their positions in Atlassian, with Allstate Corp leading with a 40.1% increase, indicating a strong interest in the stock despite recent share sales by company insiders.
• Analysts have recently adjusted their price targets for Atlassian, with estimates ranging from $215.00 to $300.00, reflecting varied outlooks on the company's performance following a solid quarterly earnings report.

APG Asset Management N.V. decreased its stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 3.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,838 shares of the technology company's stock after selling 3,303 shares during the quarter. APG Asset Management N.V.'s holdings in Atlassian were worth $18,042,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Smartleaf Asset Management LLC increased its position in Atlassian by 11.5% in the first quarter. Smartleaf Asset Management LLC now owns 716 shares of the technology company's stock worth $156,000 after buying an additional 74 shares in the last quarter. Biondo Investment Advisors LLC increased its position in Atlassian by 0.6% in the first quarter. Biondo Investment Advisors LLC now owns 33,572 shares of the technology company's stock worth $7,124,000 after buying an additional 200 shares in the last quarter. Elwood Capital Partners LP increased its position in Atlassian by 25.5% in the first quarter. Elwood Capital Partners LP now owns 17,676 shares of the technology company's stock worth $3,751,000 after buying an additional 3,588 shares in the last quarter. Allstate Corp increased its position in Atlassian by 40.1% in the first quarter. Allstate Corp now owns 6,639 shares of the technology company's stock worth $1,409,000 after buying an additional 1,900 shares in the last quarter. Finally, Circle Wealth Management LLC increased its position in Atlassian by 10.2% in the first quarter. Circle Wealth Management LLC now owns 7,236 shares of the technology company's stock worth $1,536,000 after buying an additional 671 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Buying and Selling

In related news, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $208.43, for a total value of $1,656,601.64. Following the transaction, the director owned 23,844 shares of the company's stock, valued at $4,969,804.92. This trade represents a 25.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 7,728 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $163.43, for a total transaction of $1,262,987.04. Following the completion of the transaction, the president directly owned 182,801 shares in the company, valued at $29,875,167.43. This represents a 4.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 510,134 shares of company stock valued at $99,681,446 in the last 90 days. Company insiders own 38.55% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on TEAM. Cantor Fitzgerald lowered their price objective on Atlassian from $256.00 to $240.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Wall Street Zen upgraded Atlassian from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. Barclays cut their price objective on Atlassian from $244.00 to $215.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Canaccord Genuity Group cut their price objective on Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Piper Sandler restated an "overweight" rating and set a $300.00 target price (down from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Atlassian presently has an average rating of "Moderate Buy" and an average target price of $256.90.

Atlassian Price Performance

TEAM stock opened at $170.79 on Monday. Atlassian Corporation PLC has a 12 month low of $154.07 and a 12 month high of $326.00. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average price of $190.67 and a 200 day moving average price of $216.69. The stock has a market cap of $44.83 billion, a PE ratio of -172.51 and a beta of 0.96.

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 analysts' consensus estimates of $0.83 by $0.15. The company had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.36 billion. Atlassian had a negative return on equity of 14.77% and a negative net margin of 4.92%.Atlassian's revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 EPS. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. Equities research analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

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.

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