Aquatic Capital Management LLC Has $20.93 Million Position in Atlassian Corporation PLC $TEAM

Key Points

• Aquatic Capital Management cut its position in Atlassian by 22.5%, selling 37,964 shares and leaving it with 131,052 shares valued at about $20.93 million per its latest SEC filing.
• Company restructuring — Atlassian announced roughly 1,600 job cuts, $225–$236 million in restructuring charges and its CTO is stepping down, prompting mixed analyst reactions and concerns about execution and potential "AI‑washing" despite management's pivot to AI and enterprise sales.
• Insider and institutional positioning: insiders sold 343,273 shares in the past three months (insiders still own 36.66%) while institutions hold 94.45% of the stock; Atlassian recently beat revenue and EPS estimates, reporting revenue up 23.3% year‑over‑year and EPS of $1.22 versus $1.12 consensus.

Aquatic Capital Management LLC reduced its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 22.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 131,052 shares of the technology company's stock after selling 37,964 shares during the period. Aquatic Capital Management LLC's holdings in Atlassian were worth $20,929,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. DNB Asset Management AS boosted its position in Atlassian by 266.6% during the third quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company's stock valued at $448,260,000 after purchasing an additional 2,041,210 shares during the last quarter. Norges Bank acquired a new position in Atlassian in the 2nd quarter worth about $377,794,000. Artisan Partners Limited Partnership raised its stake in shares of Atlassian by 66.3% during the 2nd quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company's stock worth $787,610,000 after purchasing an additional 1,545,546 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Atlassian by 6.0% during the 3rd quarter. Vanguard Group Inc. now owns 18,479,561 shares of the technology company's stock worth $2,951,186,000 after purchasing an additional 1,049,483 shares in the last quarter. Finally, Swedbank AB lifted its holdings in shares of Atlassian by 139.6% during the 3rd quarter. Swedbank AB now owns 1,372,976 shares of the technology company's stock valued at $219,264,000 after buying an additional 800,000 shares during the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Joseph Leo Binz sold 1,653 shares of the company's stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $81.35, for a total transaction of $134,471.55. Following the completion of the sale, the chief financial officer directly owned 208,639 shares of the company's stock, valued at approximately $16,972,782.65. This represents a 0.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 3,072 shares of the firm's stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $81.35, for a total transaction of $249,907.20. Following the completion of the transaction, the chief technology officer owned 212,916 shares in the company, valued at $17,320,716.60. The trade was a 1.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 343,273 shares of company stock valued at $48,101,379 in the last three months. Company insiders own 36.66% of the company's stock.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $75.21 on Friday. The business's 50-day simple moving average is $104.18 and its 200-day simple moving average is $140.96. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.89 and a current ratio of 0.89. Atlassian Corporation PLC has a 52 week low of $67.85 and a 52 week high of $242.00. The firm has a market cap of $19.84 billion, a price-to-earnings ratio of -104.46, a P/E/G ratio of 297.93 and a beta of 0.94.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, February 5th. The technology company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.10. Atlassian had a negative return on equity of 6.33% and a negative net margin of 3.29%.The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the company earned $0.96 EPS. The company's revenue for the quarter was up 23.3% on a year-over-year basis. As a group, equities research analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TEAM has been the subject of several recent research reports. Wall Street Zen cut Atlassian from a "buy" rating to a "hold" rating in a research note on Sunday. UBS Group reaffirmed a "neutral" rating and set a $105.00 price objective on shares of Atlassian in a research report on Friday, February 6th. Guggenheim reduced their target price on shares of Atlassian from $225.00 to $190.00 and set a "buy" rating for the company in a research note on Friday, February 6th. Citigroup decreased their target price on shares of Atlassian from $210.00 to $160.00 and set a "buy" rating for the company in a research report on Monday, February 9th. Finally, KeyCorp cut their price target on shares of Atlassian from $210.00 to $170.00 and set an "overweight" rating on the stock in a report on Friday, February 6th. Twenty-one equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Atlassian currently has an average rating of "Moderate Buy" and an average target price of $185.12.

Key Stories Impacting Atlassian

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Workforce cut framed as a productivity and margin play — several outlets reported the market initially viewed the ~1,600-job reduction as a disciplined step to reallocate resources toward higher-return AI and enterprise sales initiatives, which can support faster path to profitability. Atlassian shares rise after workforce reduction announcement
• Positive Sentiment: Analyst stance not uniformly bearish — the Street consensus remains constructive (a “Moderate Buy” in recent coverage) and Mizuho retains an outperform view despite lowering its price target to $185, signaling some analysts see material upside if the AI/enterprise pivot delivers. Atlassian Receives Consensus Recommendation of "Moderate Buy" Mizuho PT lowered to $185
• Neutral Sentiment: Short-interest reporting in recent data is unreliable/zero and doesn’t provide a meaningful signal for current positioning (tells us little about forced selling risk). (Data entry)
• Negative Sentiment: Significant one-time charges and leadership change — Atlassian disclosed an estimated $225M–$236M in restructuring charges and said longtime CTO Rajeev Rajan is stepping down; those details amplified downside as investors priced the near-term hit to earnings and execution risk around the AI pivot. Atlassian (TEAM) Is Down 11.1% After Restructuring To Fund AI And Enterprise Sales Pivot
• Negative Sentiment: Layoffs concentrated in R&D raise execution and product-cycle questions — reports note >900 R&D roles affected, which could slow product development even as the company shifts priorities; this feeds short-term uncertainty about roadmap delivery. Atlassian to reduce headcount by 10% as it restructures around AI
• Negative Sentiment: Reputational/strategic risk: critics warn of “AI-washing” — coverage and commentary question whether layoffs are genuine productivity moves or cosmetic AI repositioning, which can weigh on investor confidence if the strategy lacks clear near-term revenue pathways. Atlassian Layoffs Reignite Conversations Around The Rise Of AI Washing in 2026
• Negative Sentiment: Valuation and sentiment already under pressure — bearish price forecasts and a steep YTD/1‑yr decline have left the stock vulnerable to downside momentum if execution doubts persist. Atlassian Price Prediction: Down 66%, TEAM Could Hit $185 Next

Atlassian Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian's product portfolio centers on tools designed to help teams plan, build and support software and business processes.

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