Atlassian Corporation PLC $TEAM Shares Sold by Belpointe Asset Management LLC

Key Points

• Belpointe Asset Management LLC has significantly reduced its holdings in Atlassian Corporation PLC by 76.1%, now owning only 1,029 shares valued at $209,000.
• Atlassian reported an earnings per share (EPS) of $0.98 for the last quarter, exceeding expectations, with revenue of $1.38 billion, reflecting a 22.3% increase year-over-year.
• Analysts have adjusted their price targets for Atlassian, with several firms lowering their estimates; the average target price now stands at $248.74 with a consensus rating of "Moderate Buy."

Belpointe Asset Management LLC reduced its holdings in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 76.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,029 shares of the technology company's stock after selling 3,277 shares during the quarter. Belpointe Asset Management LLC's holdings in Atlassian were worth $209,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Smithfield Trust Co increased its stake in Atlassian by 90.7% in the first quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after purchasing an additional 78 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock valued at $42,000 after acquiring an additional 161 shares during the period. First Horizon Advisors Inc. grew 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 valued at $57,000 after acquiring an additional 55 shares during the period. State of Wyoming grew its position in 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 acquiring an additional 47 shares during the period. Finally, Opal Wealth Advisors LLC purchased a new stake in Atlassian during the first quarter valued at about $63,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $144.56 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.22. Atlassian Corporation PLC has a 1-year low of $144.32 and a 1-year high of $326.00. The business has a 50-day moving average of $167.04 and a 200-day moving average of $192.53. The company has a market capitalization of $37.92 billion, a price-to-earnings ratio of -146.02 and a beta of 0.92.

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, topping 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 business had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter in the previous year, the firm posted $0.66 earnings per share. The company's revenue 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, equities analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael Cannon-Brookes sold 7,665 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $202.55, for a total value of $1,552,545.75. Following the transaction, the chief executive officer owned 352,590 shares in the company, valued at approximately $71,417,104.50. The trade was a 2.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Anutthara Bharadwaj sold 7,728 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $163.43, for a total value of $1,262,987.04. Following the completion of the transaction, the president owned 182,801 shares in the company, valued at approximately $29,875,167.43. This trade represents a 4.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 566,938 shares of company stock worth $98,781,848. 38.55% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TEAM. Oppenheimer lowered their price target on Atlassian from $300.00 to $275.00 and set an "outperform" rating for the company in a research report on Monday, July 21st. BMO Capital Markets lowered their price target on Atlassian from $225.00 to $200.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Mizuho lowered their price target on Atlassian from $265.00 to $235.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Raymond James Financial lowered their price target on Atlassian from $300.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Finally, Canaccord Genuity Group lowered their price target on Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Atlassian currently has an average rating of "Moderate Buy" and an average target price of $248.74.

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.

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