Banco Bilbao Vizcaya Argentaria S.A. Grows Stake in Atlassian Corporation PLC $TEAM

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Atlassian Corporation PLC by 20.9%, owning 32,955 shares valued at $7,003,000 as of the last quarter.
• Atlassian recently reported earnings of $0.98 EPS, exceeding analysts' expectations, with revenue of $1.38 billion, a 22.3% increase compared to the previous year.
• Several research firms have revised their target prices for Atlassian, with Mizuho setting a new target of $235.00, reflecting mixed sentiments on the stock's outlook.

Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 20.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 32,955 shares of the technology company's stock after buying an additional 5,704 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Atlassian were worth $7,003,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Pinnacle Wealth Management LLC purchased a new position in shares of Atlassian in the 1st quarter valued at approximately $481,000. Quantbot Technologies LP lifted its stake in shares of Atlassian by 740.1% in the 1st quarter. Quantbot Technologies LP now owns 94,179 shares of the technology company's stock valued at $19,986,000 after purchasing an additional 82,968 shares during the period. Wellington Management Group LLP lifted its stake in shares of Atlassian by 87.4% in the 1st quarter. Wellington Management Group LLP now owns 880,406 shares of the technology company's stock valued at $186,831,000 after purchasing an additional 410,530 shares during the period. Brooklyn Investment Group lifted its stake in shares of Atlassian by 12.3% in the 1st quarter. Brooklyn Investment Group now owns 1,111 shares of the technology company's stock valued at $236,000 after purchasing an additional 122 shares during the period. Finally, Makena Capital Management LLC lifted its stake in shares of Atlassian by 48.7% in the 1st quarter. Makena Capital Management LLC now owns 45,688 shares of the technology company's stock valued at $9,695,000 after purchasing an additional 14,959 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TEAM. Mizuho lowered their target price on Atlassian from $265.00 to $235.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Wall Street Zen upgraded Atlassian from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. Canaccord Genuity Group reduced their price objective on Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Piper Sandler reaffirmed an "overweight" rating and set a $300.00 price objective (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Finally, Citigroup reduced their price objective on Atlassian from $300.00 to $240.00 and set a "buy" rating for the company in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $256.90.

Atlassian Stock Up 0.2%

Atlassian stock opened at $166.55 on Thursday. The firm has a market cap of $43.72 billion, a price-to-earnings ratio of -168.23 and a beta of 0.96. The stock has a fifty day simple moving average of $191.89 and a two-hundred day simple 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 current ratio of 1.22, a quick ratio of 1.26 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 analysts' consensus estimates of $0.83 by $0.15. The business had revenue of $1.38 billion during 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%.The company's quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. Equities analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $208.43, for a total value of $1,656,601.64. Following the transaction, the director directly owned 23,844 shares in the company, valued at $4,969,804.92. This trade represents a 25.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $208.43, for a total value of $1,656,601.64. Following the completion of the transaction, the chief executive officer owned 23,844 shares in the company, valued at approximately $4,969,804.92. This trade represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 510,700 shares of company stock worth $100,415,703. Company insiders own 38.55% of the company's stock.

About Atlassian

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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