Elwood Capital Partners LP Purchases 3,588 Shares of Atlassian Corporation PLC $TEAM

Key Points

• Elwood Capital Partners LP increased its holdings in Atlassian Corporation PLC by 25.5% in the first quarter, now owning 17,676 shares valued at approximately $3.75 million.
• Atlassian's earnings report showed a 22.3% increase in quarterly revenue year-over-year, with earnings per share at $0.98, beating estimates by $0.15.
• Analyst ratings for Atlassian have seen fluctuations, with price targets being adjusted downwards recently; however, a large number of analysts maintain a Buy rating on the stock.

Elwood Capital Partners LP lifted its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 25.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,676 shares of the technology company's stock after purchasing an additional 3,588 shares during the quarter. Atlassian accounts for approximately 3.2% of Elwood Capital Partners LP's portfolio, making the stock its 9th largest holding. Elwood Capital Partners LP's holdings in Atlassian were worth $3,751,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake 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 purchasing an additional 580,583 shares during the period. Baillie Gifford & Co. raised its holdings in Atlassian by 7.1% in the 1st quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company's stock valued at $1,845,114,000 after buying an additional 573,696 shares during the period. Massachusetts Financial Services Co. MA grew its position in Atlassian by 21.8% in 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 acquiring an additional 616,071 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in Atlassian by 6.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,972,130 shares of the technology company's stock valued at $418,506,000 after acquiring an additional 124,432 shares in the last quarter. Finally, Durable Capital Partners LP grew its position in shares of Atlassian by 499.7% during the fourth quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company's stock worth $383,456,000 after buying an additional 1,312,820 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Insider Buying and Selling

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $216.09, for a total transaction of $1,717,483.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $216.09, for a total value of $1,717,483.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 509,568 shares of company stock valued at $98,932,371. Company insiders own 38.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TEAM shares. Citigroup cut their price target on Atlassian from $300.00 to $240.00 and set a "buy" rating for the company in a research note on Monday, August 18th. Mizuho dropped their target price on Atlassian from $265.00 to $235.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Wells Fargo & Company dropped their target price on Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Macquarie lowered their price objective on Atlassian from $270.00 to $250.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Finally, Canaccord Genuity Group lowered their price objective on Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, August 8th. One investment 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 stock. According to data from MarketBeat.com, Atlassian presently has a consensus rating of "Moderate Buy" and a consensus price target of $256.90.

Atlassian Stock Down 2.6%

Shares of TEAM traded down $4.42 during midday trading on Tuesday, hitting $164.25. The stock had a trading volume of 2,280,070 shares, compared to its average volume of 2,381,838. The company has a 50 day simple moving average of $189.36 and a two-hundred day simple moving average of $215.31. The firm has a market cap of $43.09 billion, a price-to-earnings ratio of -165.91 and a beta of 0.96. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.22. Atlassian Corporation PLC has a twelve month low of $154.07 and a twelve month high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results 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 business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. Atlassian had a negative return on equity of 14.77% and a negative net margin of 4.92%.The company's quarterly revenue was up 22.3% on a year-over-year basis. 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. On average, analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current year.

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.