Atlassian Corporation PLC $TEAM Stock Position Raised by Fulcrum Asset Management LLP

Key Points

• Fulcrum Asset Management increased its Atlassian stake by 19,041.3% in the third quarter, to 44,982 shares valued at about $7.9 million. Institutional investors collectively own 94.45% of the company’s stock.
• Atlassian reported quarterly revenue of $1.77 billion, up 23.7% year over year, and adjusted earnings of $1.65 per share, topping analyst expectations. However, management expects cloud growth to slow to 27% next quarter from 30.5%.
• Analyst sentiment remained broadly positive, with 24 Buy ratings and a consensus “Moderate Buy” rating. The average price target was $210.96, though some firms lowered targets amid concerns about the growth outlook.

Fulcrum Asset Management LLP lifted its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 19,041.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,982 shares of the technology company's stock after acquiring an additional 44,747 shares during the quarter. Fulcrum Asset Management LLP's holdings in Atlassian were worth $7,915,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TEAM. Carmignac Gestion increased its stake in Atlassian by 115.8% in the 1st quarter. Carmignac Gestion now owns 2,603,770 shares of the technology company's stock worth $177,707,000 after buying an additional 1,397,402 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Atlassian by 48.4% in the first quarter. First Trust Advisors LP now owns 2,349,842 shares of the technology company's stock valued at $160,377,000 after acquiring an additional 766,922 shares in the last quarter. KBC Group NV boosted its stake in shares of Atlassian by 1,691.2% in the first quarter. KBC Group NV now owns 1,440,019 shares of the technology company's stock worth $98,281,000 after acquiring an additional 1,359,624 shares during the period. Swiss National Bank boosted its stake in shares of Atlassian by 8.2% in the first quarter. Swiss National Bank now owns 493,267 shares of the technology company's stock worth $33,665,000 after acquiring an additional 37,500 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Atlassian by 111.7% in the third quarter. Assenagon Asset Management S.A. now owns 469,100 shares of the technology company's stock worth $84,105,000 after acquiring an additional 247,540 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TEAM. KeyCorp lifted their target price on Atlassian from $185.00 to $235.00 and gave the company an "overweight" rating in a research note on Monday, October 19th. Royal Bank Of Canada upped their price target on Atlassian from $215.00 to $235.00 and gave the stock an "outperform" rating in a research note on Monday, October 12th. Bank of America upped their price target on Atlassian from $175.00 to $210.00 and gave the stock a "buy" rating in a research note on Monday, August 31st. BMO Capital Markets reaffirmed an "outperform" rating and set a $225.00 price objective on shares of Atlassian in a report on Friday, October 30th. Finally, Guggenheim set a $280.00 price objective on shares of Atlassian in a research report on Friday. Twenty-four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $210.96.

Insider Activity at Atlassian

In other Atlassian news, CFO James Chuong sold 9,054 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total transaction of $1,561,362.30. Following the completion of the transaction, the chief financial officer owned 279,218 shares in the company, valued at $48,151,144.10. This trade represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 1,851 shares of Atlassian stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total transaction of $319,204.95. Following the completion of the transaction, the executive directly owned 218,223 shares of the company's stock, valued at $37,632,556.35. The trade was a 0.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 22,475 shares of company stock valued at $3,822,643 over the last 90 days. 37.63% of the stock is owned by corporate insiders.

Atlassian Price Performance

Shares of TEAM opened at $153.68 on Monday. The stock has a market capitalization of $38.90 billion, a price-to-earnings ratio of 426.90, a price-to-earnings-growth ratio of 17.13 and a beta of 1.16. Atlassian Corporation PLC has a 1 year low of $56.01 and a 1 year high of $229.96. The business's 50 day simple moving average is $196.05 and its 200-day simple moving average is $119.57. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.78 and a quick ratio of 0.78.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, November 5th. The technology company reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.39 by $0.26. Atlassian had a return on equity of 31.64% and a net margin of 1.28%. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the company earned $1.04 EPS. The company's quarterly revenue was up 23.7% compared to the same quarter last year. As a group, equities analysts expect that Atlassian Corporation PLC will post 0.66 earnings per share for the current fiscal year.

Atlassian News Roundup

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Fiscal Q1 revenue rose 23.7% year over year to $1.77 billion, while adjusted EPS of $1.65 topped the $1.39 consensus. Cloud revenue grew 30.5%, and the company reported stronger margins and free cash flow. Atlassian Q1 results
• Positive Sentiment: AI-related adoption showed momentum: Teamwork Collection customers grew sevenfold year over year, and remaining performance obligations increased 44%. Atlassian also guided to $7.5 billion in FY2027 revenue, above the $7.4 billion consensus. Q1 earnings call highlights
• Positive Sentiment: Piper Sandler raised its price target to $190 and kept an “overweight” rating, signaling continued optimism despite the post-earnings concerns. Piper Sandler target update
• Negative Sentiment: The main concern is deceleration: Atlassian expects next-quarter cloud growth of 27%, below Q1’s 30.5%, and increased its full-year cloud growth outlook only modestly, from 25.5% to 26%. Management cited timing-related Data Center revenue effects, dampening the impact of the quarterly beat. Cloud growth outlook
• Negative Sentiment: Several firms cut price targets, including Truist ($250 to $200), Wells Fargo ($270 to $200), and Oppenheimer ($275 to $240), though they maintained positive ratings. These reductions underscore investor concerns about growth expectations after the results. Truist rating update

Atlassian Profile

Atlassian Corporation develops collaboration and productivity software for software, IT and business teams. Its products help organizations plan and track work, manage software development and support services, and share information across teams.

Its product portfolio includes Jira for project and issue tracking, Confluence for team documentation and collaboration, Jira Service Management for IT and other service teams, Trello for visual work management, and Bitbucket for code collaboration.

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