AQR Capital Management LLC Increases Position in Atlassian Corporation PLC $TEAM

Key Points

• AQR Capital Management LLC significantly increased its stake in Atlassian Corporation PLC by 145.6% in Q1, owning about 0.65% of the company worth approximately $354.9 million.
• Atlassian reported earnings of $0.98 per share for Q2, exceeding expectations with revenue of $1.38 billion, a 22.3% increase year-over-year.
• Wall Street analysts have mixed ratings, with a consensus rating of "Moderate Buy" and an average target price of $256.90 for Atlassian shares.

AQR Capital Management LLC lifted its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 145.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,715,287 shares of the technology company's stock after acquiring an additional 1,016,902 shares during the quarter. AQR Capital Management LLC owned 0.65% of Atlassian worth $354,858,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TEAM. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Atlassian during the 4th quarter worth about $4,606,000. Aptus Capital Advisors LLC lifted its stake in Atlassian by 14.0% in the 4th quarter. Aptus Capital Advisors LLC now owns 1,772 shares of the technology company's stock valued at $431,000 after buying an additional 217 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Atlassian by 446.4% in the 4th quarter. Ameriprise Financial Inc. now owns 680,320 shares of the technology company's stock valued at $165,576,000 after buying an additional 555,815 shares in the last quarter. Benjamin Edwards Inc. purchased a new position in Atlassian in the 4th quarter valued at about $276,000. Finally, Caxton Associates LP purchased a new position in Atlassian in the 4th quarter valued at about $542,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Mizuho decreased their price target on shares of Atlassian from $265.00 to $235.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Citigroup decreased their price target on shares of Atlassian from $300.00 to $240.00 and set a "buy" rating on the stock in a research note on Monday, August 18th. Raymond James Financial decreased their price target on shares of Atlassian from $300.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Truist Financial set a $230.00 target price on shares of Atlassian in a research note on Friday, August 8th. Finally, BMO Capital Markets decreased their target price on shares of Atlassian from $225.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $256.90.

Atlassian Trading Up 2.6%

Shares of TEAM traded up $4.35 during mid-day trading on Friday, reaching $172.43. The stock had a trading volume of 2,352,239 shares, compared to its average volume of 2,861,181. The firm has a market cap of $45.23 billion, a price-to-earnings ratio of -174.17 and a beta of 0.95. 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 business's fifty day moving average is $185.63 and its 200 day moving average is $208.13. Atlassian Corporation PLC has a 52-week low of $154.07 and a 52-week 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 EPS for the quarter, beating the consensus estimate of $0.83 by $0.15. Atlassian had a negative net margin of 4.92% and a negative return on equity of 14.77%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the company earned $0.66 EPS. The business's revenue for the quarter was up 22.3% compared to the same quarter last year. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. On average, sell-side analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $171.14, for a total value of $1,311,788.10. Following the sale, the chief executive officer owned 137,970 shares in the company, valued at $23,612,185.80. The trade was a 5.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Farquhar sold 7,665 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $171.14, for a total value of $1,311,788.10. Following the completion of the sale, the director directly owned 137,970 shares in the company, valued at approximately $23,612,185.80. The trade was a 5.26% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 520,948 shares of company stock worth $99,011,032 over the last quarter. 38.55% of the stock is currently owned by company insiders.

About Atlassian

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.