Pallas Capital Advisors LLC Acquires 1,843 Shares of Atlassian Corporation PLC $TEAM

Key Points

• Pallas Capital Advisors LLC increased its holdings in Atlassian Corporation PLC by 24.7% during Q2, owning 9,318 shares now valued at $1.89 million.
• Atlassian reported a quarterly earnings per share (EPS) of $0.98, exceeding estimates, with revenue up 22.3% year-over-year.
• Insider sales have occurred, with Director Scott Farquhar and CEO Michael Cannon-Brookes each selling 7,665 shares at an average price of $174.58.

Pallas Capital Advisors LLC boosted its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 24.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,318 shares of the technology company's stock after acquiring an additional 1,843 shares during the quarter. Pallas Capital Advisors LLC's holdings in Atlassian were worth $1,892,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Clean Yield Group boosted its position in Atlassian by 372.0% during the first quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after purchasing an additional 93 shares in the last quarter. Smithfield Trust Co raised its stake in Atlassian by 90.7% during the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after acquiring an additional 78 shares in the last quarter. Geneos Wealth Management Inc. increased its position 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 purchasing an additional 161 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Atlassian by 82.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company's stock worth $52,000 after acquiring an additional 110 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of Atlassian by 25.9% in the first quarter. First Horizon Advisors Inc. now owns 267 shares of the technology company's stock worth $57,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 94.45% of the company's stock.

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,665 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $173.56, for a total transaction of $1,330,337.40. Following the completion of the transaction, the chief executive officer owned 61,320 shares of the company's stock, valued at approximately $10,642,699.20. This trade represents a 11.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $173.56, for a total transaction of $1,330,337.40. Following the completion of the sale, the director owned 61,320 shares in the company, valued at approximately $10,642,699.20. This represents a 11.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 536,278 shares of company stock worth $99,596,944. Insiders own 38.55% of the company's stock.

Atlassian Price Performance

TEAM traded down $0.58 during trading on Friday, hitting $169.05. The company's stock had a trading volume of 2,754,523 shares, compared to its average volume of 2,134,461. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. Atlassian Corporation PLC has a 12 month low of $155.37 and a 12 month high of $326.00. The firm's 50 day moving average price is $178.63 and its two-hundred day moving average price is $199.89. The stock has a market capitalization of $44.35 billion, a price-to-earnings ratio of -170.76 and a beta of 0.95.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its 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 return on equity of 14.77% and a negative net margin of 4.92%.The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the business earned $0.66 earnings per share. 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. Sell-side analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Stephens lowered their price target on Atlassian from $221.00 to $202.00 and set an "equal weight" rating on the stock in a research note on Monday, August 11th. Oppenheimer cut their price target on shares of Atlassian from $300.00 to $275.00 and set an "outperform" rating on the stock in a report on Monday, July 21st. KeyCorp reduced their price objective on shares of Atlassian from $275.00 to $250.00 and set an "overweight" rating for the company in a research report on Thursday, July 17th. Zacks Research upgraded shares of Atlassian from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 20th. Finally, Raymond James Financial dropped their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $255.45.

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.