Atlassian Corporation PLC $TEAM Stock Sold by CenterBook Partners LP

Key Points

• CenterBook Partners cut its Atlassian position by 90.1% in the third quarter, selling 57,427 shares and retaining 6,323 shares valued at about $1.13 million.
• Other institutional investors increased their holdings, while hedge funds and institutional investors collectively owned 94.45% of Atlassian’s stock.
• Atlassian beat quarterly earnings and revenue estimates, but slowing-growth guidance prompted a selloff and analyst price-target cuts. The stock had a consensus rating of “Moderate Buy” and an average target of $209.48.

CenterBook Partners LP reduced its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 90.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,323 shares of the technology company's stock after selling 57,427 shares during the quarter. CenterBook Partners LP's holdings in Atlassian were worth $1,134,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Carmignac Gestion raised its holdings 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 purchasing an additional 1,397,402 shares during the period. First Trust Advisors LP grew its holdings in Atlassian by 48.4% during 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 purchasing an additional 766,922 shares during the period. KBC Group NV grew its holdings in Atlassian by 1,691.2% during the first quarter. KBC Group NV now owns 1,440,019 shares of the technology company's stock valued at $98,281,000 after purchasing an additional 1,359,624 shares during the period. Assenagon Asset Management S.A. increased its position in 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 buying an additional 247,540 shares in the last quarter. Finally, Artemis Investment Management LLP raised its stake in shares of Atlassian by 53.0% in the third quarter. Artemis Investment Management LLP now owns 461,537 shares of the technology company's stock worth $82,749,000 after buying an additional 159,884 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

Atlassian Price Performance

Shares of Atlassian stock opened at $154.90 on Tuesday. The stock has a 50 day moving average of $195.34 and a 200 day moving average of $119.74. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $229.96. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.93. The firm has a market cap of $39.21 billion, a PE ratio of 430.29, a PEG ratio of 20.25 and a beta of 1.16.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The technology company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.26. The company had revenue of $1.77 billion for the quarter, compared to analysts' expectations of $1.71 billion. Atlassian had a positive return on equity of 20.99% and a negative net margin of 0.82%. The firm's revenue for the quarter was up 23.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.04 earnings per share. On average, research analysts expect that Atlassian Corporation PLC will post 0.66 EPS for the current fiscal year.

Analysts Set New Price Targets

TEAM has been the subject of a number of recent research reports. Cantor Fitzgerald boosted their price objective on Atlassian from $220.00 to $252.00 and gave the company an "overweight" rating in a research note on Monday, November 2nd. KeyCorp raised their target price on shares of Atlassian from $185.00 to $235.00 and gave the stock an "overweight" rating in a research note on Monday, October 19th. Oppenheimer dropped their price target on shares of Atlassian from $275.00 to $240.00 and set an "outperform" rating for the company in a research report on Friday. BMO Capital Markets reissued an "outperform" rating and issued a $225.00 price objective on shares of Atlassian in a research note on Friday, October 30th. Finally, Robert W. Baird lifted their target price on shares of Atlassian from $200.00 to $245.00 and gave the company an "outperform" rating in a research note on Monday, September 28th. 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. According to MarketBeat.com, Atlassian has an average rating of "Moderate Buy" and a consensus price target of $209.48.

More Atlassian News

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Atlassian beat fiscal Q1 2027 estimates for revenue, earnings and cloud growth. Citigroup and Barclays still rate the stock Buy and Overweight, respectively, despite lowering their targets to $220 and $210—both above the cited $154.90 share price. Atlassian Tanks After Huge Run as Guidance Disappoints, But Strength Remains
• Positive Sentiment: Truist reiterated its Buy rating, and another analyst raised its price target to $190, offering some counterweight to the broader set of target cuts. Truist Buy Rating Reiterated Price Target Raised to $190
• Neutral Sentiment: Technical commentary describes the stock as oversold, with a possible bounce facing heavy overhead supply—suggesting any recovery could encounter resistance. Oversold Bounce Test Meets Heavy Overhead Supply
• Negative Sentiment: Despite the earnings beat, management’s guidance implied slowing growth, triggering a sharp post-results selloff. Several analysts also reduced price targets, reflecting increased caution about the growth outlook. Guidance Disappointment and Analyst Revisions

Insider Activity

In other Atlassian news, CRO Brian Duffy sold 1,851 shares of the 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 sale, the executive owned 218,223 shares of the company's stock, valued at approximately $37,632,556.35. This trade represents a 0.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO James Chuong sold 9,054 shares of the business's stock in a transaction dated Wednesday, August 19th. The stock was 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 of the company's stock, valued at $48,151,144.10. This represents a 3.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 22,475 shares of company stock valued at $3,822,643. Corporate insiders own 37.63% of the company's stock.

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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