Cinctive Capital Management LP Buys Shares of 17,721 Atlassian Corporation PLC $TEAM

Key Points

• Cinctive Capital Management LP acquired 17,721 shares of Atlassian Corporation, valued at approximately $3.76 million, marking a significant investment during the first quarter.
• As of now, 94.45% of Atlassian's stock is owned by institutional investors and hedge funds, reflecting strong institutional interest.
• Atlassian reported $1.38 billion in revenue during its latest quarter, exceeding analysts' expectations and marking a 22.3% year-over-year increase.

Cinctive Capital Management LP bought a new position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 17,721 shares of the technology company's stock, valued at approximately $3,761,000.

Several other hedge funds and other institutional investors have also modified their holdings of TEAM. State of Wyoming increased its position in Atlassian by 20.3% during the 1st quarter. State of Wyoming now owns 278 shares of the technology company's stock worth $59,000 after purchasing an additional 47 shares in the last quarter. First Citizens Bank & Trust Co. boosted its stake in shares of Atlassian by 4.7% in the 1st 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 last quarter. First Horizon Advisors Inc. boosted its stake in shares of Atlassian by 25.9% in the 1st 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 last quarter. Fulton Bank N.A. boosted its stake in Atlassian by 3.1% during the first quarter. Fulton Bank N.A. now owns 1,892 shares of the technology company's stock worth $402,000 after acquiring an additional 57 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its stake in Atlassian by 2.9% during the first quarter. Yousif Capital Management LLC now owns 2,063 shares of the technology company's stock worth $438,000 after acquiring an additional 58 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Atlassian Stock Up 2.6%

Shares of NASDAQ:TEAM traded up $4.35 during midday trading on Friday, reaching $172.43. The company's stock had a trading volume of 2,352,239 shares, compared to its average volume of 2,861,181. The firm has a 50 day moving average of $185.63 and a 200-day moving average of $207.47. The firm has a market capitalization of $45.23 billion, a P/E ratio of -174.17 and a beta of 0.95. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. Atlassian Corporation PLC has a 12-month low of $154.07 and a 12-month high of $326.00.

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, beating the consensus estimate of $0.83 by $0.15. Atlassian had a negative net margin of 4.92% and a negative return on equity of 14.77%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the firm posted $0.66 EPS. Atlassian's revenue for the quarter was up 22.3% on a year-over-year basis. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. On average, research analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TEAM shares. Wall Street Zen downgraded shares of Atlassian from a "buy" rating to a "hold" rating in a report on Friday. BMO Capital Markets cut their target price on shares of Atlassian from $225.00 to $200.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Canaccord Genuity Group cut their price objective on shares of Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Truist Financial set a $230.00 target price on shares of Atlassian in a research report on Friday, August 8th. Finally, Zacks Research raised shares of Atlassian from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 20th. 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $256.90.

Insider Activity at Atlassian

In other news, Director Scott Belsky acquired 1,455 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The shares were bought at an average cost of $173.00 per share, with a total value of $251,715.00. Following the transaction, the director owned 1,455 shares of the company's stock, valued at $251,715. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Scott Farquhar sold 7,665 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $171.14, for a total transaction of $1,311,788.10. Following the sale, the director directly owned 137,970 shares in the company, valued at $23,612,185.80. This trade represents a 5.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 520,948 shares of company stock valued at $99,011,032. 38.55% of the stock is owned by insiders.

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.