Comerica Bank Has $9.60 Million Position in Atlassian Corporation PLC $TEAM

Key Points

• Comerica Bank increased its stake in Atlassian Corporation PLC by 42.5%, holding 45,221 shares worth approximately $9.60 million as of the latest SEC filing.
• Atlassian reported earnings of $0.98 per share, surpassing analysts' expectations of $0.83, with revenues for the quarter reaching $1.38 billion.
• Institutional investors and hedge funds own 94.45% of Atlassian's stock, indicating strong institutional support for the company amidst recent insider trades.

Comerica Bank grew its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 42.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,221 shares of the technology company's stock after purchasing an additional 13,493 shares during the period. Comerica Bank's holdings in Atlassian were worth $9,596,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC boosted its stake in shares of Atlassian by 21.6% in the 4th 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 in the last quarter. Covenant Partners LLC boosted its stake in shares of Atlassian by 4.2% in the 4th 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 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 in 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 in the last quarter. Finally, Fulton Bank N.A. lifted its position in Atlassian by 3.1% during the 1st quarter. Fulton Bank N.A. now owns 1,892 shares of the technology company's stock worth $402,000 after buying an additional 57 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Trading Up 0.6%

Shares of TEAM stock traded up $1.00 on Friday, reaching $177.78. The company had a trading volume of 2,893,757 shares, compared to its average volume of 3,086,541. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73. The stock has a market cap of $46.64 billion, a PE ratio of -179.57 and a beta of 0.96. The company has a 50-day moving average of $188.25 and a 200-day moving average of $213.06. 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 posted 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. Atlassian had a negative return on equity of 14.77% and a negative net margin of 4.92%.The business had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same period in the prior year, the business earned $0.66 EPS. Atlassian's revenue for the quarter 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 analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on TEAM. Barclays reduced their price target on shares of Atlassian from $244.00 to $215.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. Wells Fargo & Company reduced their price target on shares of Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Citigroup reduced their price target on shares of Atlassian from $300.00 to $240.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. Piper Sandler restated an "overweight" rating and set a $300.00 target price (down from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Finally, Wall Street Zen upgraded shares of Atlassian from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Atlassian has a consensus rating of "Moderate Buy" and a consensus price target of $256.90.

Insiders Place Their Bets

In other news, Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $208.43, for a total value of $1,656,601.64. Following the completion of the sale, the director owned 23,844 shares of the company's stock, valued at approximately $4,969,804.92. This represents a 25.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $208.43, for a total value of $1,656,601.64. Following the completion of the sale, the chief executive officer directly owned 23,844 shares of the company's stock, valued at approximately $4,969,804.92. The trade was a 25.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 539,662 shares of company stock valued at $103,608,546 in the last quarter. 38.55% of the stock is currently owned by insiders.

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.