UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Grows Stock Position in Atlassian Corporation PLC $TEAM

Key Points

• UBS Asset Management increased its stake in Atlassian Corporation PLC by 39.7%, now owning approximately 1.9 million shares valued at $407 million.
• Atlassian reported earnings of $0.98 per share, exceeding expectations, and its revenue grew by 22.3% year-over-year.
• Analysts have set varied price targets for Atlassian, with the average forecast being $256.90, alongside a majority rating of "Moderate Buy."

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 39.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,919,172 shares of the technology company's stock after acquiring an additional 545,778 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.73% of Atlassian worth $407,267,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. State of Wyoming increased its position in Atlassian by 20.3% during the first quarter. State of Wyoming now owns 278 shares of the technology company's stock worth $59,000 after buying an additional 47 shares during the period. First Citizens Bank & Trust Co. increased its position in Atlassian by 4.7% during the first quarter. First Citizens Bank & Trust Co. now owns 1,192 shares of the technology company's stock worth $253,000 after buying an additional 54 shares during the period. First Horizon Advisors Inc. increased its position in Atlassian by 25.9% during 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. Fulton Bank N.A. increased its position in Atlassian by 3.1% during the first quarter. Fulton Bank N.A. now owns 1,892 shares of the technology company's stock worth $402,000 after buying an additional 57 shares during the period. Finally, Yousif Capital Management LLC increased its position in Atlassian by 2.9% during the first quarter. Yousif Capital Management LLC now owns 2,063 shares of the technology company's stock worth $438,000 after buying an additional 58 shares during the period. Institutional investors and hedge funds own 94.45% of the company's stock.

Insiders Place Their Bets

In other news, CEO Michael Cannon-Brookes sold 7,665 shares of the company's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $175.76, for a total value of $1,347,200.40. Following the sale, the chief executive officer directly owned 99,645 shares in the company, valued at $17,513,605.20. This represents a 7.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Farquhar sold 7,665 shares of the stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $175.76, for a total value of $1,347,200.40. Following the transaction, the director owned 99,645 shares in the company, valued at $17,513,605.20. This trade represents a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 536,278 shares of company stock worth $100,612,557. 38.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on TEAM shares. Zacks Research raised Atlassian from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 20th. KeyCorp cut their price target on Atlassian from $275.00 to $250.00 and set an "overweight" rating on the stock in a research report on Thursday, July 17th. Wall Street Zen lowered Atlassian from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Truist Financial set a $230.00 target price on Atlassian in a report on Friday, August 8th. Finally, Citigroup dropped their target price on Atlassian from $300.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Atlassian currently has an average rating of "Moderate Buy" and an average price target of $255.45.

Atlassian Price Performance

Shares of Atlassian stock traded down $1.84 during trading on Friday, reaching $174.87. The company's stock had a trading volume of 1,384,717 shares, compared to its average volume of 2,159,024. 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 $154.07 and a 12-month high of $326.00. The company has a market capitalization of $45.87 billion, a P/E ratio of -176.63 and a beta of 0.95. The business has a 50 day moving average price of $182.36 and a 200-day moving average price of $204.16.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. Atlassian had a negative return on equity of 14.77% and a negative net margin of 4.92%.The company's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 earnings per share. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current year.

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.