Allstate Corp Grows Position in Atlassian Corporation PLC $TEAM

Key Points

• Allstate Corp increased its ownership in Atlassian Corporation PLC by 40.1% during the first quarter, holding shares currently valued at approximately $1,409,000.
• In recent transactions, insiders have sold a total of 510,134 shares valued at about $99.7 million, with the president and CTO reducing their respective ownership stakes.
• Equity analysts have mixed views on Atlassian, with target prices being cut by firms like Mizuho and Stephens, while others maintain a majority of Buy ratings, leading to an average consensus target price of $256.90.

Allstate Corp raised its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 40.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,639 shares of the technology company's stock after purchasing an additional 1,900 shares during the period. Allstate Corp's holdings in Atlassian were worth $1,409,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its position in Atlassian by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 16,993,537 shares of the technology company's stock valued at $3,606,198,000 after purchasing an additional 580,583 shares during the last quarter. Baillie Gifford & Co. raised its position in Atlassian by 7.1% during 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 purchasing an additional 573,696 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Atlassian by 21.8% during 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 purchasing an additional 616,071 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Atlassian by 6.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,972,130 shares of the technology company's stock worth $418,506,000 after acquiring an additional 124,432 shares during the period. Finally, Durable Capital Partners LP raised its position in shares of Atlassian by 499.7% in the 4th quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company's stock worth $383,456,000 after acquiring an additional 1,312,820 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Capital One Financial lowered Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 target price for the company. in a research report on Wednesday, July 16th. Cantor Fitzgerald decreased their target price on Atlassian from $256.00 to $240.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Raymond James Financial decreased their target price on Atlassian from $300.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Zacks Research raised Atlassian from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 20th. Finally, UBS Group reissued a "hold" rating on shares of Atlassian in a research report on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Atlassian currently has an average rating of "Moderate Buy" and a consensus target price of $256.90.

Insiders Place Their Bets

In other Atlassian news, CTO Rajeev Bashyam Rajan sold 3,517 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $163.43, for a total transaction of $574,783.31. Following the sale, the chief technology officer directly owned 143,898 shares in the company, valued at approximately $23,517,250.14. This trade represents a 2.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott Farquhar sold 7,665 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $169.40, for a total value of $1,298,451.00. Following the sale, the director owned 191,625 shares in the company, valued at approximately $32,461,275. This represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 524,898 shares of company stock valued at $101,529,273. 38.55% of the stock is currently owned by company insiders.

Atlassian Stock Down 2.6%

TEAM stock traded down $4.42 on Tuesday, reaching $164.25. 2,280,070 shares of the company traded hands, compared to its average volume of 2,923,929. Atlassian Corporation PLC has a one year low of $154.07 and a one year high of $326.00. 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 cap of $43.09 billion, a P/E ratio of -165.91 and a beta of 0.96. The firm has a fifty day simple moving average of $189.36 and a 200-day simple moving average of $215.31.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 earnings per share 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 company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the company earned $0.66 EPS. The firm's revenue for the quarter was up 22.3% on a year-over-year basis. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. Research analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share 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.