Benchstone Capital Management LP Buys 19,147 Shares of Atlassian Corporation PLC $TEAM

Key Points

• Benchstone Capital Management LP increased its investment in Atlassian Corporation by 17.4%, acquiring an additional 19,147 shares, bringing its total to 129,435 shares worth approximately $27.47 million.
• The company's CEO, Michael Cannon-Brookes, and President, Anutthara Bharadwaj, both sold significant shares recently, with Cannon-Brookes selling 7,948 shares and Bharadwaj 7,728 shares, indicating a reduction in their stakes of 25% and 4.06%, respectively.
• Atlassian reported a revenue increase of 22.3% year-over-year in its latest quarterly earnings, surpassing analysts' expectations with earnings of $0.98 per share against a consensus estimate of $0.83.

Benchstone Capital Management LP raised its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 17.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,435 shares of the technology company's stock after acquiring an additional 19,147 shares during the period. Atlassian makes up approximately 2.9% of Benchstone Capital Management LP's holdings, making the stock its 19th biggest holding. Benchstone Capital Management LP's holdings in Atlassian were worth $27,467,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of TEAM. Clean Yield Group grew its position in Atlassian by 372.0% in the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after acquiring an additional 93 shares during the last quarter. Colonial Trust Co SC grew its position in shares of Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after buying 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 worth $34,000 after buying an additional 78 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Atlassian by 82.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company's stock worth $52,000 after purchasing an additional 110 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in shares of Atlassian by 25.9% during the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the technology company's stock worth $57,000 after purchasing an additional 55 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Atlassian news, 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 transaction of $1,656,601.64. Following the completion of the transaction, the chief executive officer owned 23,844 shares of the company's stock, valued at approximately $4,969,804.92. This trade represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Anutthara Bharadwaj sold 7,728 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $163.43, for a total value of $1,262,987.04. Following the transaction, the president directly owned 182,801 shares of the company's stock, valued at $29,875,167.43. The trade was a 4.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 539,662 shares of company stock valued at $103,608,546. Corporate insiders own 38.55% of the company's stock.

Atlassian Trading Up 0.6%

NASDAQ:TEAM opened at $177.78 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.22 and a current ratio of 1.22. Atlassian Corporation PLC has a 1 year low of $154.07 and a 1 year high of $326.00. The stock has a market cap of $46.64 billion, a P/E ratio of -179.57 and a beta of 0.96. The stock has a 50-day simple moving average of $188.25 and a 200-day simple moving average of $212.33.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share (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 the consensus estimate 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 revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.66 EPS. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wall Street Zen upgraded Atlassian from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. Mizuho dropped 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. Barclays lowered their price target on Atlassian from $244.00 to $215.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Stephens lowered their price target on Atlassian from $221.00 to $202.00 and set an "equal weight" rating on the stock in a research note on Monday, August 11th. Finally, BMO Capital Markets lowered their price objective on Atlassian from $225.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $256.90.

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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