Azimuth Capital Investment Management LLC Grows Stock Holdings in Atlassian Corporation PLC $TEAM

Key Points

• Azimuth Capital Investment Management LLC increased its stake in Atlassian Corporation PLC by 58.8%, acquiring an additional 17,500 shares for a total holding of 47,237 shares valued at approximately $10 million.
• Atlassian's most recent earnings report showed a significant 22.3% revenue increase year-over-year, with earnings per share of $0.98 surpassing expectations.
• Insiders, including directors and the CEO, have sold nearly 502,000 shares of Atlassian stock recently, contributing to a 38.55% insider ownership of the company.

Azimuth Capital Investment Management LLC increased its holdings in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 58.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,237 shares of the technology company's stock after acquiring an additional 17,500 shares during the period. Azimuth Capital Investment Management LLC's holdings in Atlassian were worth $10,024,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Clean Yield Group increased its stake in shares of Atlassian by 372.0% during the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after purchasing an additional 93 shares during the last quarter. Colonial Trust Co SC grew its stake in Atlassian by 100.0% during the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock valued at $34,000 after acquiring an additional 69 shares in the last quarter. Smithfield Trust Co grew its position in shares of Atlassian by 90.7% during 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. GeoWealth Management LLC grew its position in Atlassian by 26.8% during the fourth quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock worth $44,000 after buying an additional 38 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Atlassian by 82.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company's stock worth $52,000 after buying an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Wall Street Analyst Weigh In

TEAM has been the topic of a number of research reports. Piper Sandler restated an "overweight" rating and set a $300.00 price target (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Canaccord Genuity Group decreased their price objective on Atlassian from $255.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Cantor Fitzgerald dropped their target price on Atlassian from $256.00 to $240.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Oppenheimer reduced their price target on shares of Atlassian from $300.00 to $275.00 and set an "outperform" rating on the stock in a research report on Monday, July 21st. Finally, BMO Capital Markets decreased their price target on shares of Atlassian from $225.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $256.90.

Insider Activity

In related news, CAO Gene Liu sold 765 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $163.43, for a total value of $125,023.95. Following the transaction, the chief accounting officer directly owned 50,595 shares of the company's stock, valued at approximately $8,268,740.85. This represents a 1.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $163.26, for a total transaction of $1,251,387.90. Following the completion of the sale, the director owned 245,280 shares of the company's stock, valued at $40,044,412.80. This represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 510,700 shares of company stock valued at $100,415,703. Company insiders own 38.55% of the company's stock.

Atlassian Trading Up 0.2%

Shares of Atlassian stock traded up $0.34 during midday trading on Wednesday, reaching $166.55. 1,730,075 shares of the company's stock traded hands, compared to its average volume of 2,906,946. The stock has a 50 day moving average of $191.89 and a 200-day moving average of $220.13. Atlassian Corporation PLC has a 12 month low of $154.07 and a 12 month high of $326.00. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.26 and a current ratio of 1.22. The company has a market cap of $43.72 billion, a PE ratio of -168.23 and a beta of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last released 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 company had revenue of $1.38 billion during 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 firm's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter last year, the business posted $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.