Atlassian Corporation PLC $TEAM Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC reduced its stake in Atlassian Corporation PLC by 13.7%, selling 3,439 shares and now holding a total of 21,741 shares valued at $4.6 million.
• Insiders, including CEO Michael Cannon-Brookes and CTO Rajeev Bashyam Rajan, sold a total of 510,700 shares amounting to $100.4 million in the past ninety days, indicating potential shifts in confidence among leadership.
• Atlassian reported a quarterly earnings per share (EPS) of $0.98, beating estimates and showing a 22.3% increase in revenue year-over-year.

HighTower Advisors LLC cut its stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 13.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,741 shares of the technology company's stock after selling 3,439 shares during the period. HighTower Advisors LLC's holdings in Atlassian were worth $4,614,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Clean Yield Group increased its position in Atlassian by 372.0% in the first quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after buying an additional 93 shares during the period. Colonial Trust Co SC grew its stake in shares of Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after purchasing an additional 69 shares in the last quarter. Smithfield Trust Co boosted its stake in Atlassian by 90.7% during the first quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after buying an additional 78 shares in the last quarter. GeoWealth Management LLC boosted its stake in Atlassian by 26.8% during the fourth quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock valued at $44,000 after buying an additional 38 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in Atlassian by 82.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company's stock valued at $52,000 after buying an additional 110 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,665 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $163.26, for a total transaction of $1,251,387.90. Following the sale, the chief executive officer owned 245,280 shares of the company's stock, valued at $40,044,412.80. This trade represents a 3.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 3,517 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $163.43, for a total value of $574,783.31. Following the sale, the chief technology officer directly owned 143,898 shares in the company, valued at approximately $23,517,250.14. This trade represents a 2.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 510,700 shares of company stock valued at $100,415,703 over the last ninety days. 38.55% of the stock is owned by corporate insiders.

Atlassian Stock Up 0.2%

TEAM stock opened at $166.55 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.26. The stock has a market capitalization of $43.72 billion, a P/E ratio of -168.23 and a beta of 0.96. The business has a 50-day moving average of $191.89 and a 200-day moving average of $220.13. Atlassian Corporation PLC has a fifty-two week low of $154.07 and a fifty-two week high of $326.00.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. UBS Group reiterated a "hold" rating on shares of Atlassian in a research report on Monday, July 7th. Wells Fargo & Company cut their price target on Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Raymond James Financial lowered their price objective on Atlassian from $300.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Piper Sandler reissued an "overweight" rating and set a $300.00 price objective (down previously from $365.00) on shares of Atlassian in a report on Friday, May 2nd. Finally, Truist Financial set a $230.00 target price on Atlassian in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $256.90.

Atlassian 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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