Magnetar Financial LLC Reduces Stake in Atlassian Corporation PLC $TEAM

Key Points

• Magnetar Financial LLC significantly reduced its stake in Atlassian Corporation by 90.1%, from 22,940 shares to 2,276 shares, reflecting a market value of approximately $483,000.
• Atlassian reported $1.38 billion in revenue for the last quarter and $0.98 earnings per share (EPS), exceeding analysts' expectations and showing a year-over-year revenue increase of 22.3%.
• Insider sales included Scott Farquhar and CEO Michael Cannon-Brookes, who both sold 7,665 shares at an average price of $177.83, highlighting a 4.55% decrease in their ownership.

Magnetar Financial LLC lowered its stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 90.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,276 shares of the technology company's stock after selling 20,664 shares during the period. Magnetar Financial LLC's holdings in Atlassian were worth $483,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of TEAM. Clean Yield Group increased its holdings in shares of 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 buying an additional 93 shares in the last quarter. Colonial Trust Co SC increased its holdings in shares of Atlassian by 100.0% during the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after buying an additional 69 shares in the last quarter. Smithfield Trust Co increased its holdings in shares of Atlassian by 90.7% during the first quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock worth $34,000 after buying an additional 78 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Atlassian by 82.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company's stock worth $52,000 after buying an additional 110 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in shares of 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 purchasing an additional 55 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 7,665 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $171.14, for a total transaction of $1,311,788.10. Following the completion of the sale, the chief executive officer owned 145,635 shares in the company, valued at $24,923,973.90. The trade was a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Scott Belsky purchased 1,455 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The shares were bought at an average price of $173.00 per share, with a total value of $251,715.00. Following the acquisition, the director directly owned 1,455 shares of the company's stock, valued at $251,715. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 536,844 shares of company stock worth $102,445,999 over the last quarter. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Trading Down 1.5%

Shares of Atlassian stock traded down $2.60 during midday trading on Thursday, reaching $168.08. The company had a trading volume of 3,098,645 shares, compared to its average volume of 2,392,834. The stock has a fifty day moving average price of $186.84 and a 200 day moving average price of $210.12. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market cap of $44.09 billion, a PE ratio of -169.78 and a beta of 0.95. 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 earnings results 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. The business had revenue of $1.38 billion during 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 firm's revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share. 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 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. UBS Group reissued a "hold" rating on shares of Atlassian in a research note on Monday, July 7th. BMO Capital Markets cut their price target on Atlassian from $225.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Citigroup cut their price target on Atlassian from $300.00 to $240.00 and set a "buy" rating on the stock in a research note on Monday, August 18th. Barclays decreased their price objective on Atlassian from $244.00 to $215.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently 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.