Ardsley Advisory Partners LP Raises Stock Position in Atlassian Corporation PLC $TEAM

Key Points

• Ardsley Advisory Partners LP increased its position in Atlassian Corporation PLC by 65.3%, holding a total of 21,400 shares valued at approximately $4.54 million.
• Multiple hedge funds have revised their stakes in Atlassian, with institutional investors currently owning 94.45% of the company's stock.
• Analysts have downgraded Atlassian's price targets significantly, with recent adjustments by firms such as Raymond James and Citigroup, reflecting ongoing market uncertainties.

Ardsley Advisory Partners LP raised its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 65.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,400 shares of the technology company's stock after purchasing an additional 8,450 shares during the period. Ardsley Advisory Partners LP's holdings in Atlassian were worth $4,541,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. State of Wyoming increased its position in shares of Atlassian by 20.3% during the first quarter. State of Wyoming now owns 278 shares of the technology company's stock valued at $59,000 after acquiring an additional 47 shares in the last quarter. Covenant Partners LLC grew its position in Atlassian by 4.2% in the 4th quarter. Covenant Partners LLC now owns 1,328 shares of the technology company's stock worth $323,000 after purchasing an additional 53 shares during the period. First Citizens Bank & Trust Co. grew its position in Atlassian by 4.7% in the 1st quarter. First Citizens Bank & Trust Co. now owns 1,192 shares of the technology company's stock worth $253,000 after purchasing an additional 54 shares during the period. First Horizon Advisors Inc. grew its position in Atlassian by 25.9% in the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the technology company's stock worth $57,000 after purchasing an additional 55 shares during the period. Finally, Fulton Bank N.A. grew its position in Atlassian by 3.1% in the 1st quarter. Fulton Bank N.A. now owns 1,892 shares of the technology company's stock worth $402,000 after purchasing an additional 57 shares during the period. Institutional investors own 94.45% of the company's stock.

Analyst Ratings Changes

TEAM has been the subject of a number of research analyst reports. Canaccord Genuity Group cut their target price on shares of Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, August 8th. UBS Group restated a "hold" rating on shares of Atlassian in a research note on Monday, July 7th. Truist Financial set a $230.00 target price on shares of Atlassian in a research note on Friday, August 8th. Barclays decreased their price target on shares of Atlassian from $244.00 to $215.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Finally, Mizuho decreased their price target on shares of Atlassian from $265.00 to $235.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $256.90.

Insider Buying and Selling

In other Atlassian news, Director Scott Farquhar sold 7,665 shares of the company's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $171.14, for a total value of $1,311,788.10. Following the transaction, the director directly owned 137,970 shares in the company, valued at $23,612,185.80. This represents a 5.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $171.14, for a total transaction of $1,311,788.10. Following the transaction, the chief executive officer directly owned 137,970 shares in the company, valued at approximately $23,612,185.80. This trade represents a 5.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 520,948 shares of company stock valued at $99,011,032 in the last ninety days. 38.55% of the stock is owned by company insiders.

Atlassian Price Performance

Shares of NASDAQ TEAM traded up $4.35 during mid-day trading on Friday, hitting $172.43. 2,352,239 shares of the company's stock traded hands, compared to its average volume of 2,861,181. The company's 50-day moving average is $185.63 and its two-hundred day moving average is $208.13. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market capitalization of $45.23 billion, a P/E ratio of -174.17 and a beta of 0.95. Atlassian Corporation PLC has a 1 year low of $154.07 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results 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. Atlassian had a negative net margin of 4.92% and a negative return on equity of 14.77%. The firm had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same period in the prior year, the company earned $0.66 EPS. The business'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. On average, equities analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal 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.