Atlassian Corporation PLC $TEAM Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

Key Points

• BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in Atlassian Corporation PLC by 24.5% during the first quarter, owning 84,343 shares valued at approximately $17.9 million.
• Atlassian reported $0.98 earnings per share for its most recent quarter, surpassing expectations and showing a 22.3% increase in revenue year-over-year.
• Recent analyst ratings show a consensus of Moderate Buy with a price target averaging $256.90, despite some firms lowering their targets recently.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its holdings in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 24.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 84,343 shares of the technology company's stock after selling 27,338 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Atlassian were worth $17,898,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TEAM. NewEdge Advisors LLC boosted its holdings in Atlassian by 41.2% in the fourth quarter. NewEdge Advisors LLC now owns 3,165 shares of the technology company's stock valued at $770,000 after purchasing an additional 924 shares in the last quarter. GeoWealth Management LLC boosted its holdings in Atlassian by 26.8% in the fourth quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock valued at $44,000 after purchasing an additional 38 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Atlassian by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 157,752 shares of the technology company's stock valued at $38,398,000 after purchasing an additional 5,878 shares in the last quarter. MML Investors Services LLC boosted its holdings in Atlassian by 8.0% in the fourth quarter. MML Investors Services LLC now owns 15,110 shares of the technology company's stock valued at $3,678,000 after purchasing an additional 1,121 shares in the last quarter. Finally, IHT Wealth Management LLC acquired a new position in Atlassian in the fourth quarter valued at approximately $208,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Atlassian Stock Up 3.8%

Atlassian stock opened at $170.79 on Friday. Atlassian Corporation PLC has a twelve month low of $154.07 and a twelve month high of $326.00. The stock has a 50 day moving average of $190.67 and a two-hundred day moving average of $217.40. The company has a current ratio of 1.22, a quick ratio of 1.26 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $44.83 billion, a price-to-earnings ratio of -172.51 and a beta of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted 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. 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 during the quarter, compared to analysts' expectations of $1.36 billion. During the same period last year, the firm earned $0.66 EPS. 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. As a group, research analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Insider Activity at Atlassian

In other Atlassian news, CTO Rajeev Bashyam Rajan sold 3,517 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $163.43, for a total transaction of $574,783.31. Following the transaction, the chief technology officer owned 143,898 shares in the company, valued at approximately $23,517,250.14. The trade was a 2.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $166.30, for a total value of $1,274,689.50. Following the transaction, the chief executive officer owned 206,955 shares in the company, valued at $34,416,616.50. The trade was a 3.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold 510,134 shares of company stock worth $99,681,446 in the last ninety days. Company insiders own 38.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Oppenheimer lowered their price target on Atlassian from $300.00 to $275.00 and set an "outperform" rating for the company in a report on Monday, July 21st. Capital One Financial lowered Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price target on the stock. in a research report on Wednesday, July 16th. Barclays cut their price target on Atlassian from $244.00 to $215.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Zacks Research raised Atlassian from a "strong sell" rating to a "hold" rating in a research report on Wednesday. Finally, Macquarie cut their price target on Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $256.90.

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.

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