Atlassian Corporation PLC $TEAM Shares Purchased by Campbell & CO Investment Adviser LLC

Key Points

• Campbell & CO Investment Adviser LLC significantly increased its stake in Atlassian Corporation PLC by purchasing 11,849 shares, raising its position by 755.7% to a total of 13,417 shares worth about $2.85 million.
• A majority of analysts hold a consensus rating of "Moderate Buy" for Atlassian, with a target price averaging $256.90, although several analysts have recently cut their price objectives.
• Insider selling has been noteworthy, with both Director Scott Farquhar and CEO Michael Cannon-Brookes selling nearly the same amount of shares, representing a 25% decrease in their holdings.

Campbell & CO Investment Adviser LLC increased its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 755.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,417 shares of the technology company's stock after purchasing an additional 11,849 shares during the period. Campbell & CO Investment Adviser LLC's holdings in Atlassian were worth $2,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TEAM. GeoWealth Management LLC grew its position in shares of Atlassian by 26.8% in the fourth quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock valued at $44,000 after purchasing an additional 38 shares during the period. True Wealth Design LLC grew its position in shares of Atlassian by 21.6% in the fourth quarter. True Wealth Design LLC now owns 282 shares of the technology company's stock valued at $69,000 after purchasing an additional 50 shares during the period. Covenant Partners LLC grew its position in shares of Atlassian by 4.2% in the fourth quarter. Covenant Partners LLC now owns 1,328 shares of the technology company's stock valued at $323,000 after purchasing an additional 53 shares during the period. First Citizens Bank & Trust Co. grew its position in shares of Atlassian by 4.7% in the first quarter. First Citizens Bank & Trust Co. now owns 1,192 shares of the technology company's stock valued at $253,000 after purchasing an additional 54 shares during the period. Finally, First Horizon Advisors Inc. grew its position in shares of Atlassian by 25.9% in the first quarter. First Horizon Advisors Inc. now owns 267 shares of the technology company's stock valued at $57,000 after purchasing an additional 55 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

Atlassian Trading Down 2.6%

TEAM stock traded down $4.42 during trading on Tuesday, reaching $164.25. 2,280,070 shares of the stock were exchanged, compared to its average volume of 2,923,929. The business has a 50 day moving average price of $189.36 and a 200-day moving average price of $215.31. The firm has a market capitalization of $43.09 billion, a price-to-earnings ratio of -165.91 and a beta of 0.96. Atlassian Corporation PLC has a 1 year low of $154.07 and a 1 year high of $326.00. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.15. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. Atlassian had a negative net margin of 4.92% and a negative return on equity of 14.77%. The business's revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 EPS. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. On average, research analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on TEAM shares. Macquarie dropped their target price on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Zacks Research raised shares of Atlassian from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 20th. Oppenheimer decreased their price target on shares of Atlassian from $300.00 to $275.00 and set an "outperform" rating on the stock in a research note on Monday, July 21st. Wells Fargo & Company decreased their price target on shares of Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Finally, Capital One Financial downgraded shares of Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price target on the stock. in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $256.90.

Insider Activity at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $169.40, for a total value of $1,298,451.00. Following the completion of the transaction, the chief executive officer owned 191,625 shares in the company, valued at approximately $32,461,275. The trade was a 3.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 3,517 shares of Atlassian stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $163.43, for a total transaction of $574,783.31. Following the completion of the transaction, the chief technology officer owned 143,898 shares of the company's stock, valued at $23,517,250.14. This trade represents a 2.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 524,898 shares of company stock valued at $101,529,273 over the last 90 days. Insiders own 38.55% of the company's stock.

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.