Vestmark Advisory Solutions Inc. Boosts Stock Position in Atlassian Corporation PLC $TEAM

Key Points

• Vestmark Advisory Solutions Inc. increased its stake in Atlassian Corporation by 72.6% during the first quarter, now holding 4,910 shares valued at approximately $1,042,000.
• Atlassian recently reported $1.38 billion in revenue for the quarter, surpassing analysts' expectations, and posted $0.98 earnings per share, beating the consensus estimate by $0.15.
• Recent analyst reports have adjusted Atlassian's target stock price, with Mizuho lowering it from $265 to $235 while still maintaining an "outperform" rating.

Vestmark Advisory Solutions Inc. boosted its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 72.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,910 shares of the technology company's stock after acquiring an additional 2,065 shares during the quarter. Vestmark Advisory Solutions Inc.'s holdings in Atlassian were worth $1,042,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. GeoWealth Management LLC lifted its stake in shares of Atlassian by 26.8% in the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock valued at $44,000 after purchasing an additional 38 shares during the last quarter. True Wealth Design LLC lifted its stake in shares of Atlassian by 21.6% during the 4th quarter. True Wealth Design LLC now owns 282 shares of the technology company's stock worth $69,000 after acquiring an additional 50 shares during the last quarter. Covenant Partners LLC lifted its stake in shares of Atlassian by 4.2% during the 4th quarter. Covenant Partners LLC now owns 1,328 shares of the technology company's stock worth $323,000 after acquiring an additional 53 shares during the last quarter. First Citizens Bank & Trust Co. increased its holdings in Atlassian by 4.7% during 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. Finally, First Horizon Advisors Inc. increased its holdings in Atlassian by 25.9% during 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. Hedge funds and other institutional investors own 94.45% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on TEAM. Wells Fargo & Company reduced their price objective on Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Wall Street Zen raised Atlassian from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. Oppenheimer lowered their price target on Atlassian from $300.00 to $275.00 and set an "outperform" rating for the company in a research report on Monday, July 21st. BMO Capital Markets lowered their price target on Atlassian from $225.00 to $200.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Finally, Citigroup decreased their price objective on Atlassian from $300.00 to $240.00 and set a "buy" rating for the company in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $256.90.

Atlassian Trading Up 0.2%

TEAM traded up $0.34 during trading hours on Wednesday, reaching $166.55. The company's stock had a trading volume of 1,730,075 shares, compared to its average volume of 2,398,931. Atlassian Corporation PLC has a fifty-two week low of $154.07 and a fifty-two week high of $326.00. The stock has a market cap of $43.72 billion, a PE ratio of -168.23 and a beta of 0.96. The business's 50-day moving average is $192.59 and its 200-day moving average is $220.50. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.26.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 EPS for the quarter, beating 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 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 firm posted $0.66 earnings per share. The firm's quarterly revenue was up 22.3% on a year-over-year basis. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, equities research analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $208.43, for a total transaction of $1,656,601.64. Following the transaction, the chief executive officer directly owned 23,844 shares in the company, valued at $4,969,804.92. This represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $208.43, for a total value of $1,656,601.64. Following the sale, the director directly owned 23,844 shares in the company, valued at $4,969,804.92. This represents a 25.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 510,700 shares of company stock worth $100,415,703 over the last 90 days. 38.55% of the stock is owned by insiders.

Atlassian 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.