Atlassian Corporation PLC $TEAM Shares Sold by WCM Investment Management LLC

Key Points

• WCM Investment Management LLC reduced its stake in Atlassian Corporation PLC by 0.9% in the second quarter, now holding approximately 3.39 million shares valued at about $685.6 million.
• Atlassian reported quarterly earnings of $0.98 EPS, exceeding estimates and showing a revenue increase of 22.3% year-over-year, reaching $1.38 billion.
• A majority of Atlassian's stock, 94.45%, is currently owned by institutional investors and hedge funds, reflecting strong institutional interest in the company.

WCM Investment Management LLC reduced its stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,388,634 shares of the technology company's stock after selling 29,079 shares during the period. Atlassian makes up about 1.6% of WCM Investment Management LLC's investment portfolio, making the stock its 24th biggest holding. WCM Investment Management LLC owned approximately 1.29% of Atlassian worth $685,588,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Smithfield Trust Co increased its holdings in Atlassian by 90.7% in the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after purchasing an additional 78 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock valued at $42,000 after purchasing an additional 161 shares in the last quarter. First Horizon Advisors Inc. grew 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 acquiring an additional 55 shares in the last quarter. State of Wyoming grew its stake in shares of Atlassian by 20.3% during the first quarter. State of Wyoming now owns 278 shares of the technology company's stock valued at $59,000 after acquiring an additional 47 shares in the last quarter. Finally, Banque Transatlantique SA acquired a new stake in shares of Atlassian during the first quarter valued at about $77,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Stock Performance

Shares of TEAM stock opened at $149.84 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.22 and a current ratio of 1.22. Atlassian Corporation PLC has a one year low of $144.32 and a one year high of $326.00. The company's 50-day simple moving average is $165.02 and its 200-day simple moving average is $191.31. The stock has a market capitalization of $39.31 billion, a price-to-earnings ratio of -151.35 and a beta of 0.92.

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, topping the consensus estimate of $0.83 by $0.15. Atlassian had a negative net margin of 4.92% and a negative return on equity of 14.77%. The business had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter last year, the company posted $0.66 earnings per share. The company's quarterly revenue was up 22.3% compared to the same quarter last year. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. Equities analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Insider Transactions at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,665 shares of the firm's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $197.88, for a total value of $1,516,750.20. Following the transaction, the chief executive officer owned 329,595 shares of the company's stock, valued at $65,220,258.60. This trade represents a 2.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Anutthara Bharadwaj sold 7,728 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $163.43, for a total transaction of $1,262,987.04. Following the completion of the transaction, the president directly owned 182,801 shares in the company, valued at $29,875,167.43. This represents a 4.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 551,608 shares of company stock valued at $95,200,454. Insiders own 38.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TEAM. KeyCorp lowered their target price on Atlassian from $275.00 to $250.00 and set an "overweight" rating for the company in a research note on Thursday, July 17th. Barclays lowered their target price on Atlassian from $244.00 to $215.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Cantor Fitzgerald lowered their target price on Atlassian from $256.00 to $240.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Raymond James Financial lowered their target price on Atlassian from $300.00 to $250.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Finally, Guggenheim began coverage on Atlassian in a research note on Thursday, September 11th. They set a "buy" rating and a $225.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $248.74.

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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