Atlassian Corporation PLC $TEAM Shares Sold by Manning & Napier Advisors LLC

Key Points

• Manning & Napier Advisors reduced its Atlassian stake by 7.6% in the fourth quarter, selling 35,897 shares and ending with 436,205 shares valued at about $71.1 million.
• Despite that sale, institutional ownership remains high, with 94.45% of Atlassian shares held by institutional investors and several other funds recently increasing their positions.
• Sentiment around TEAM is improving: multiple analysts raised ratings or price targets, and Atlassian reported strong quarterly results with earnings and revenue both beating estimates, including 31.7% year-over-year revenue growth.

Manning & Napier Advisors LLC cut its stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 7.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 436,205 shares of the technology company's stock after selling 35,897 shares during the period. Manning & Napier Advisors LLC owned 0.17% of Atlassian worth $71,071,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TEAM. NewEdge Advisors LLC raised its stake in shares of Atlassian by 71.6% in the 1st quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company's stock valued at $1,153,000 after purchasing an additional 2,267 shares in the last quarter. Empowered Funds LLC grew its stake in Atlassian by 39.5% in the first quarter. Empowered Funds LLC now owns 4,689 shares of the technology company's stock worth $995,000 after purchasing an additional 1,328 shares in the last quarter. Focus Partners Wealth grew its stake in Atlassian by 32.6% in the first quarter. Focus Partners Wealth now owns 4,122 shares of the technology company's stock worth $875,000 after purchasing an additional 1,014 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Atlassian by 447.2% in the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock valued at $42,000 after buying an additional 161 shares during the last quarter. Finally, Sivia Capital Partners LLC raised its stake in Atlassian by 27.5% during the second quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company's stock valued at $380,000 after buying an additional 404 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Atlassian News Roundup

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Zacks Research upgraded Atlassian from “hold” to “strong-buy,” adding to bullish sentiment around the stock. Zacks.com
• Positive Sentiment: BTIG Research raised its price target on Atlassian to $130 from $120 and reiterated a “buy” rating, signaling confidence in further upside. Benzinga
• Positive Sentiment: Barclays lifted its price target to $112 from $106 and kept an “overweight” rating, saying Atlassian’s annual recurring revenue disclosure supports the enterprise growth case. Article
• Positive Sentiment: Atlassian unveiled “Flex,” a new commercial model designed to help large customers adopt and scale its AI-powered platform more easily, which could improve enterprise sales and retention. Article
• Positive Sentiment: Atlassian also highlighted new AI-focused products and the expansion of Rovo/Teamwork Graph, reinforcing the narrative that the company is gaining traction in AI-driven workflow automation. Article
• Neutral Sentiment: Several articles discussed Atlassian’s Team ’26 conference and long-term performance, but these were mostly commentary rather than fresh catalysts. Article

Analyst Ratings Changes

A number of research analysts have commented on TEAM shares. Jefferies Financial Group set a $150.00 target price on Atlassian in a report on Friday, February 6th. Wall Street Zen raised Atlassian from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Guggenheim set a $115.00 price objective on Atlassian in a research note on Thursday, April 9th. KeyCorp decreased their price objective on shares of Atlassian from $170.00 to $130.00 and set an "overweight" rating for the company in a report on Wednesday, April 1st. Finally, Raymond James Financial set a $130.00 target price on shares of Atlassian in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Atlassian has a consensus rating of "Moderate Buy" and an average price target of $145.26.

Insider Activity at Atlassian

In other news, CFO Joseph Leo Binz sold 1,653 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $81.35, for a total value of $134,471.55. Following the completion of the transaction, the chief financial officer directly owned 208,639 shares in the company, valued at $16,972,782.65. This trade represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Brian Duffy sold 1,222 shares of the business's stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $81.35, for a total value of $99,409.70. Following the sale, the executive directly owned 124,332 shares in the company, valued at approximately $10,114,408.20. The trade was a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,013 shares of company stock worth $489,158 in the last 90 days. Corporate insiders own 36.66% of the company's stock.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $91.60 on Friday. Atlassian Corporation PLC has a 12-month low of $56.01 and a 12-month high of $232.36. The company has a market cap of $24.16 billion, a PE ratio of -110.36, a P/E/G ratio of 5.24 and a beta of 0.90. The stock has a 50 day simple moving average of $72.12 and a 200-day simple moving average of $116.37. The company has a current ratio of 0.70, a quick ratio of 0.89 and a debt-to-equity ratio of 1.13.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.42. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The firm had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the business earned $0.97 EPS. The firm's revenue for the quarter was up 31.7% on a year-over-year basis. On average, equities research analysts forecast that Atlassian Corporation PLC will post 0.81 EPS for the current year.

About Atlassian

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian's product portfolio centers on tools designed to help teams plan, build and support software and business processes.

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