Atlassian Corporation PLC $TEAM is Ardmore Road Asset Management LP's 6th Largest Position

Key Points

• Ardmore Road Asset Management LP increased its stake in Atlassian Corporation PLC by 471.4% in Q1, purchasing 165,000 additional shares, which now represents about 4.2% of its investment portfolio.
• In the last quarter, insiders sold a total of 539,662 shares of Atlassian stock, with CEO Michael Cannon-Brookes selling 7,665 shares while director Scott Belsky acquired 1,455 shares.
• Analysts have mixed ratings for Atlassian, with one analyst issuing a Strong Buy rating and eighteen others giving it a Buy rating, reflecting a positive outlook on its future performance.

Ardmore Road Asset Management LP grew its position in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 471.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 200,000 shares of the technology company's stock after purchasing an additional 165,000 shares during the quarter. Atlassian comprises approximately 4.2% of Ardmore Road Asset Management LP's investment portfolio, making the stock its 6th biggest holding. Ardmore Road Asset Management LP owned about 0.08% of Atlassian worth $42,442,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Panagora Asset Management Inc. purchased a new position in Atlassian in the first quarter worth $81,616,000. Totem Point Management LLC purchased a new stake in shares of Atlassian during the first quarter valued at $546,000. Vident Advisory LLC grew its holdings in shares of Atlassian by 143.8% during the first quarter. Vident Advisory LLC now owns 7,025 shares of the technology company's stock valued at $1,491,000 after buying an additional 4,143 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Atlassian by 75.4% during the first quarter. Canada Pension Plan Investment Board now owns 249,507 shares of the technology company's stock valued at $52,948,000 after buying an additional 107,271 shares during the last quarter. Finally, State of Wyoming grew its holdings 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 buying an additional 47 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Atlassian from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. Canaccord Genuity Group dropped their price objective on shares of Atlassian from $255.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Truist Financial set a $230.00 price objective on shares of Atlassian in a report on Friday, August 8th. UBS Group restated a "hold" rating on shares of Atlassian in a research report on Monday, July 7th. Finally, Zacks Research upgraded shares of Atlassian from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 20th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $256.90.

Atlassian Price Performance

Shares of Atlassian stock traded down $5.10 during trading hours on Tuesday, reaching $172.68. The stock had a trading volume of 2,077,827 shares, compared to its average volume of 2,386,007. The stock's 50 day moving average is $187.39 and its 200 day moving average is $210.39. The firm has a market capitalization of $45.30 billion, a PE ratio of -174.42 and a beta of 0.95. Atlassian Corporation PLC has a twelve month low of $154.07 and a twelve month high of $326.00. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, topping 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 net margin of 4.92% and a negative return on equity of 14.77%. The company's revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.66 earnings per share. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. Equities analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Atlassian

In related news, President Anutthara Bharadwaj sold 7,728 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $163.43, for a total value of $1,262,987.04. Following the transaction, the president directly owned 182,801 shares of the company's stock, valued at approximately $29,875,167.43. This trade represents a 4.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $216.09, for a total transaction of $1,717,483.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 523,766 shares of company stock valued at $100,295,342. 38.55% of the stock is owned by corporate insiders.

Atlassian Company 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.