Central Pacific Bank Trust Division Acquires Shares of 3,004 Atlassian Corporation PLC $TEAM

Key Points

• Central Pacific Bank Trust Division has acquired 3,004 shares of Atlassian Corporation PLC, valued at approximately $610,000, during the second quarter.
• Analysts have set varying price targets for Atlassian, with Guggenheim initiating a buy rating and a price target of $225.00, while Canaccord Genuity lowered their target from $255.00 to $230.00.
• Insider sales at Atlassian include a significant transaction where both CEO Michael Cannon-Brookes and Director Scott Farquhar sold 7,665 shares each at an average price of $175.76, indicating a 7.14% decrease in their positions.

Central Pacific Bank Trust Division acquired a new stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 3,004 shares of the technology company's stock, valued at approximately $610,000.

Other large investors have also recently added to or reduced their stakes in the company. Clean Yield Group increased its stake 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 buying an additional 93 shares during the period. Smithfield Trust Co increased its stake 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 purchasing an additional 78 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock worth $42,000 after purchasing an additional 161 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased 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. increased 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. Institutional investors and hedge funds own 94.45% of the company's stock.

Analysts Set New Price Targets

TEAM has been the topic of several analyst reports. Guggenheim initiated coverage on shares of Atlassian in a research note on Thursday. They set a "buy" rating and a $225.00 price target on the stock. Canaccord Genuity Group dropped their price target on shares of Atlassian from $255.00 to $230.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Capital One Financial lowered 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. Cantor Fitzgerald dropped their price target on shares of Atlassian from $256.00 to $240.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Finally, Stephens lowered their target price on shares of Atlassian from $221.00 to $202.00 and set an "equal weight" rating on the stock in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $255.45.

Insider Buying and Selling at Atlassian

In other news, Director Scott Farquhar sold 7,665 shares of the firm's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $175.76, for a total transaction of $1,347,200.40. Following the completion of the transaction, the director directly owned 99,645 shares of the company's stock, valued at approximately $17,513,605.20. This trade represents a 7.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the firm's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $175.76, for a total transaction of $1,347,200.40. Following the transaction, the chief executive officer directly owned 99,645 shares of the company's stock, valued at $17,513,605.20. The trade was a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 536,278 shares of company stock worth $100,612,557 over the last 90 days. Company insiders own 38.55% of the company's stock.

Atlassian Stock Performance

NASDAQ TEAM opened at $174.87 on Friday. 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 firm has a market capitalization of $45.87 billion, a price-to-earnings ratio of -176.63 and a beta of 0.95. The company's fifty day moving average is $182.36 and its two-hundred day moving average is $203.57. Atlassian Corporation PLC has a 52-week low of $154.07 and a 52-week high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.15. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 22.3% on a year-over-year basis. During the same period last year, the business posted $0.66 EPS. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. Equities research analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current year.

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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