Canada Pension Plan Investment Board Boosts Stake in Atlassian Corporation PLC $TEAM

Key Points

• The Canada Pension Plan Investment Board increased its stake in Atlassian Corporation PLC by 75.4%, acquiring an additional 107,271 shares, bringing its total to 249,507 shares valued at approximately $52.9 million.
• Atlassian's recent quarterly earnings showed an EPS of $0.98, exceeding expectations of $0.83, with revenue growing 22.3% year-over-year.
• Despite insider selling activity, where the CEO and a director sold shares each, the majority of Atlassian's stock (94.45%) remains under institutional ownership.

Canada Pension Plan Investment Board increased its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 75.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 249,507 shares of the technology company's stock after acquiring an additional 107,271 shares during the period. Canada Pension Plan Investment Board owned about 0.10% of Atlassian worth $52,948,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State of Wyoming grew its holdings in Atlassian by 20.3% during the first quarter. State of Wyoming now owns 278 shares of the technology company's stock worth $59,000 after acquiring an additional 47 shares during the period. Trexquant Investment LP grew its holdings in Atlassian by 168.7% during the first quarter. Trexquant Investment LP now owns 156,350 shares of the technology company's stock worth $33,179,000 after acquiring an additional 98,157 shares during the period. Next Century Growth Investors LLC acquired a new stake in Atlassian during the first quarter worth about $1,558,000. OMERS ADMINISTRATION Corp grew its holdings in Atlassian by 19.6% during the first quarter. OMERS ADMINISTRATION Corp now owns 14,142 shares of the technology company's stock worth $3,001,000 after acquiring an additional 2,313 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG grew its holdings in Atlassian by 3.4% in the first quarter. B. Metzler seel. Sohn & Co. AG now owns 7,296 shares of the technology company's stock valued at $1,548,000 after purchasing an additional 240 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Friday, June 6th. The stock was sold at an average price of $216.09, for a total value of $1,717,483.32. 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 Atlassian stock in a transaction on Friday, June 6th. The shares were sold at an average price of $216.09, for a total value of $1,717,483.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 523,766 shares of company stock worth $100,295,342. 38.55% of the stock is owned by corporate insiders.

Atlassian Trading Down 2.9%

Atlassian stock traded down $5.10 during trading on Tuesday, reaching $172.68. 2,077,827 shares of the company were exchanged, compared to its average volume of 3,057,627. Atlassian Corporation PLC has a 52-week low of $154.07 and a 52-week high of $326.00. The company has a market capitalization of $45.30 billion, a P/E ratio of -174.42 and a beta of 0.95. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.22. The stock's 50 day simple moving average is $187.39 and its two-hundred day simple moving average is $210.39.

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

Analyst Upgrades and Downgrades

TEAM has been the topic of several research analyst reports. Barclays dropped their price objective on Atlassian from $244.00 to $215.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Wall Street Zen raised Atlassian from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. Stephens dropped their price objective on Atlassian from $221.00 to $202.00 and set an "equal weight" rating on the stock in a report on Monday, August 11th. BMO Capital Markets dropped 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. Finally, KeyCorp dropped 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. One 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 company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $256.90.

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.