Baird Financial Group Inc. Decreases Stock Position in Atlassian Corporation PLC $TEAM

Key Points

• Baird Financial Group Inc. reduced its stake in Atlassian Corporation by 9.1%, now holding approximately 232,706 shares valued at $49.38 million.
• Despite Baird's decrease in shares, Vanguard Group Inc., Baillie Gifford & Co., and other institutional investors have increased their stakes in Atlassian during the same period.
• Atlassian's stock recently reported an earnings increase, with a 22.3% year-over-year revenue growth and an EPS of $0.98, surpassing analyst expectations.

Baird Financial Group Inc. cut its holdings in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 9.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 232,706 shares of the technology company's stock after selling 23,171 shares during the quarter. Baird Financial Group Inc. owned about 0.09% of Atlassian worth $49,383,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Atlassian by 3.5% in the first quarter. Vanguard Group Inc. now owns 16,993,537 shares of the technology company's stock valued at $3,606,198,000 after buying an additional 580,583 shares during the last quarter. Baillie Gifford & Co. raised its stake in Atlassian by 7.1% in the first quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company's stock valued at $1,845,114,000 after buying an additional 573,696 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Atlassian by 21.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 3,440,813 shares of the technology company's stock valued at $730,175,000 after buying an additional 616,071 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Atlassian by 6.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,972,130 shares of the technology company's stock valued at $418,506,000 after buying an additional 124,432 shares during the last quarter. Finally, Durable Capital Partners LP raised its stake in Atlassian by 499.7% in the fourth quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company's stock valued at $383,456,000 after buying an additional 1,312,820 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Stock Up 0.6%

Atlassian stock opened at $177.78 on Friday. The firm has a market cap of $46.64 billion, a price-to-earnings ratio of -179.57 and a beta of 0.96. Atlassian Corporation PLC has a 52 week low of $154.07 and a 52 week high of $326.00. The business's 50-day moving average price is $188.25 and its 200 day moving average price is $212.33. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.73.

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

Insider Buying and Selling

In other Atlassian news, Director Scott Belsky acquired 1,455 shares of the company's stock in a transaction on Thursday, August 28th. The shares were bought at an average cost of $173.00 per share, with a total value of $251,715.00. Following the completion of the acquisition, the director owned 1,455 shares in the company, valued at approximately $251,715. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $177.83, for a total value of $1,363,066.95. Following the completion of the sale, the chief executive officer directly owned 160,965 shares in the company, valued at approximately $28,624,405.95. The trade was a 4.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 539,662 shares of company stock valued at $103,608,546 over the last ninety days. Company insiders own 38.55% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Mizuho cut their price objective on Atlassian from $265.00 to $235.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Canaccord Genuity Group cut 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. KeyCorp cut their price objective on Atlassian from $275.00 to $250.00 and set an "overweight" rating on the stock in a report on Thursday, July 17th. Oppenheimer cut their price objective on Atlassian from $300.00 to $275.00 and set an "outperform" rating on the stock in a report on Monday, July 21st. Finally, BMO Capital Markets cut their price objective on Atlassian from $225.00 to $200.00 and set an "outperform" rating on the stock in a 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $256.90.

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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