Atlassian Corporation PLC $TEAM Position Boosted by Diversified Trust Co.

Key Points

• Diversified Trust Co. boosted its Atlassian stake by 244.8% to 24,506 shares (about $3.97M), and institutions now own roughly 94.45% of the stock.
• Atlassian beat quarterly estimates (EPS $1.22 vs $1.12; revenue $1.59B vs $1.54B, +23.3% YoY) but remains unprofitable (net margin -3.29%), and the shares are down sharply—trading around $68 near their 1‑year low.
• Insiders have sold heavily recently (281,953 shares worth ~$38.2M over 90 days) even as most analysts rate TEAM a Buy with an average target of about $180.48, despite several price-target cuts.

Diversified Trust Co. grew its holdings in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 244.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,506 shares of the technology company's stock after purchasing an additional 17,398 shares during the period. Diversified Trust Co.'s holdings in Atlassian were worth $3,973,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TEAM. NewEdge Advisors LLC grew its position in Atlassian by 71.6% during the first quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company's stock valued at $1,153,000 after purchasing an additional 2,267 shares in the last quarter. Empowered Funds LLC lifted its position in Atlassian by 39.5% in the 1st quarter. Empowered Funds LLC now owns 4,689 shares of the technology company's stock worth $995,000 after buying an additional 1,328 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of Atlassian by 32.6% during the 1st quarter. Focus Partners Wealth now owns 4,122 shares of the technology company's stock valued at $875,000 after buying an additional 1,014 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock valued at $42,000 after buying an additional 161 shares during the period. Finally, Sivia Capital Partners LLC grew its holdings in shares of Atlassian by 27.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company's stock valued at $380,000 after acquiring an additional 404 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Stock Down 8.4%

TEAM stock opened at $68.17 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.62. Atlassian Corporation PLC has a 1 year low of $67.33 and a 1 year high of $242.00. The company has a fifty day simple moving average of $93.43 and a 200 day simple moving average of $135.81. The firm has a market cap of $17.98 billion, a PE ratio of -94.68 and a beta of 0.94.

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

Insider Activity at Atlassian

In related news, CFO Joseph Leo Binz sold 1,653 shares of the business's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $81.35, for a total value of $134,471.55. Following the completion of the sale, the chief financial officer directly owned 208,639 shares in the company, valued at approximately $16,972,782.65. The trade was a 0.79% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Scott Farquhar sold 7,665 shares of the company's stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $94.81, for a total value of $726,718.65. Following the sale, the director directly owned 275,940 shares of the company's stock, valued at $26,161,871.40. The trade was a 2.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 281,953 shares of company stock worth $38,201,571 in the last 90 days. Insiders own 36.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on TEAM shares. Cantor Fitzgerald dropped their price target on shares of Atlassian from $240.00 to $146.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 4th. BNP Paribas Exane started coverage on Atlassian in a research note on Monday, March 16th. They issued an "outperform" rating and a $95.00 target price on the stock. Wolfe Research reaffirmed an "outperform" rating and issued a $100.00 target price on shares of Atlassian in a research report on Thursday, March 12th. KeyCorp dropped their target price on Atlassian from $210.00 to $170.00 and set an "overweight" rating on the stock in a research report on Friday, February 6th. Finally, Jefferies Financial Group set a $150.00 price target on Atlassian in a research note on Friday, February 6th. Twenty-two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $180.48.

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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