Atlassian Corporation PLC $TEAM Shares Sold by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD reduced its stake in Atlassian Corporation by 67.3%, selling over 4.4 million shares and owning approximately $452.9 million in the company as of its latest filing.
• Several hedge funds are increasing their investments in Atlassian, with Clean Yield Group alone boosting its position by 372% during the first quarter.
• Analysts have mixed views on Atlassian, with various price targets set; notable downgrades include Capital One Financial, which moved from "overweight" to "equal weight" with a target of $211.00.

Price T Rowe Associates Inc. MD trimmed its position in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 67.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,134,110 shares of the technology company's stock after selling 4,400,803 shares during the period. Price T Rowe Associates Inc. MD owned 0.81% of Atlassian worth $452,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in TEAM. Clean Yield Group increased its position in shares of Atlassian by 372.0% in the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after acquiring an additional 93 shares during the period. Colonial Trust Co SC grew its position in Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after purchasing an additional 69 shares during the period. Smithfield Trust Co grew its position in Atlassian by 90.7% during the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock worth $34,000 after purchasing an additional 78 shares during the period. GeoWealth Management LLC grew its position in Atlassian by 26.8% during the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock worth $44,000 after purchasing an additional 38 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its position in Atlassian by 82.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company's stock worth $52,000 after purchasing an additional 110 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. UBS Group reaffirmed a "hold" rating on shares of Atlassian in a research report on Monday, July 7th. Capital One Financial downgraded 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. Citigroup cut their price target on Atlassian from $300.00 to $240.00 and set a "buy" rating on the stock in a research report on Monday. 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. Finally, Cantor Fitzgerald cut their price target on Atlassian from $256.00 to $240.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $256.90.

Insider Activity at Atlassian

In related news, President Anutthara Bharadwaj sold 7,728 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $163.43, for a total value of $1,262,987.04. Following the transaction, the president directly owned 182,801 shares of the company's stock, valued at approximately $29,875,167.43. This trade represents a 4.06% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $208.43, for a total transaction of $1,656,601.64. Following the completion of the transaction, the director directly owned 23,844 shares in the company, valued at $4,969,804.92. This represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 510,134 shares of company stock valued at $99,681,446. 38.55% of the stock is owned by corporate insiders.

Atlassian Price Performance

NASDAQ:TEAM opened at $170.79 on Friday. Atlassian Corporation PLC has a 52 week low of $154.07 and a 52 week high of $326.00. The company has a quick ratio of 1.26, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $44.83 billion, a PE ratio of -172.51 and a beta of 0.96. The stock's 50-day moving average price is $190.67 and its 200-day moving average price is $218.11.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, August 7th. The technology company reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.15. The firm had revenue of $1.38 billion for 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 company's quarterly revenue was up 22.3% on a year-over-year basis. During the same period last year, the firm earned $0.66 EPS. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, equities analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

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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