Comerica Bank Sells 26,684 Shares of Atlassian Corporation PLC $TEAM

Key Points

• Comerica Bank slashed its stake in Atlassian by 66.6%, selling 26,684 shares and leaving it with 13,410 shares worth about $2.17 million per its latest SEC filing.
• Atlassian posted a quarter-beating EPS of $1.75 (vs. $1.33 est.) and revenue of $1.79 billion, up 31.7% year-over-year, though the company still reported a negative net margin.
• Analysts remain broadly positive (21 Buys, consensus target of $144.67), but several major firms have recently cut price targets—illustrating mixed near-term outlook despite a "Moderate Buy" consensus.

Comerica Bank cut its stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 66.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,410 shares of the technology company's stock after selling 26,684 shares during the period. Comerica Bank's holdings in Atlassian were worth $2,174,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. increased its position in shares of Atlassian by 60.4% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company's stock valued at $26,000 after purchasing an additional 61 shares during the last quarter. Atlantic Union Bankshares Corp grew its position in Atlassian by 19,900.0% during the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company's stock valued at $32,000 after acquiring an additional 199 shares during the last quarter. Board of the Pension Protection Fund bought a new position in Atlassian during the fourth quarter valued at approximately $32,000. Geneos Wealth Management Inc. raised its stake in shares of Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock worth $42,000 after acquiring an additional 161 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Atlassian in the 3rd quarter worth approximately $57,000. Institutional investors own 94.45% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TEAM shares. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $295.00 price objective on shares of Atlassian in a research note on Friday. Oppenheimer decreased their price target on Atlassian from $150.00 to $100.00 and set an "outperform" rating on the stock in a research note on Friday, April 17th. Morgan Stanley lowered their price objective on Atlassian from $290.00 to $120.00 and set an "overweight" rating for the company in a research report on Thursday, April 16th. BMO Capital Markets lowered their price target on shares of Atlassian from $130.00 to $105.00 and set an "outperform" rating for the company in a report on Friday, May 1st. Finally, BNP Paribas Exane started coverage on shares of Atlassian in a research report on Monday, March 16th. They set an "outperform" rating and a $95.00 price target for the company. Twenty-one equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $144.67.

Atlassian Trading Down 0.9%

NASDAQ:TEAM opened at $92.35 on Wednesday. The firm has a market capitalization of $24.36 billion, a P/E ratio of -111.27, a PEG ratio of 71.01 and a beta of 0.90. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.89. Atlassian Corporation PLC has a one year low of $56.01 and a one year high of $232.36. The company's 50-day simple moving average is $71.29 and its 200 day simple moving average is $117.23.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.42. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the business earned $0.97 earnings per share. The business's revenue was up 31.7% on a year-over-year basis. As a group, analysts forecast that Atlassian Corporation PLC will post 0.06 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other Atlassian news, CFO Joseph Leo Binz sold 1,653 shares of the business's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $81.35, for a total value of $134,471.55. Following the sale, the chief financial officer directly owned 208,639 shares of the company's stock, valued at approximately $16,972,782.65. The trade was a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Rajeev Bashyam Rajan sold 3,072 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $81.35, for a total value of $249,907.20. Following the completion of the sale, the chief technology officer directly owned 212,916 shares in the company, valued at approximately $17,320,716.60. This represents a 1.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,343 shares of company stock valued at $1,942,596 in the last ninety days. Corporate insiders own 36.66% of the company's stock.

Atlassian News Summary

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: KeyBanc initiated coverage with a Buy, giving investors an analyst-driven catalyst that can support the stock. Atlassian (TEAM) Receives a Buy from KeyBanc
• Positive Sentiment: Atlassian is rolling AI agents into Jira to augment human teams — a product initiative that can drive higher product engagement and upsell potential as customers adopt AI-enabled workflows. Atlassian adds AI agents to Jira for human-agent teamwork
• Positive Sentiment: Multiple partner awards (Rewind, Tempo, Valiantys, Eficode) highlight channel strength and ecosystem momentum that can broaden customer reach and drive services revenue. Rewind Receives Atlassian Partner of the Year 2026 Tempo Software Receives Atlassian Partner of the Year 2026 Valiantys Named Atlassian Partner of the Year 2026 Eficode receives Atlassian Partner of the Year 2026
• Neutral Sentiment: Third-party vendors and partners are launching AI-enabled tools (e.g., Rewind’s Jira failover, Praecipio’s AI offerings) that validate Atlassian’s platform demand but largely affect partner ecosystems rather than immediate top-line figures. Rewind Unveils Jira Failover Tool Praecipio Bets on AI at Every Level
• Neutral Sentiment: Coverage pieces on “smarter teamwork” and India’s AI-driven coordination challenges show market interest in collaboration tools — supportive long-term demand context but not an immediate earnings swing. Smarter teamwork with Atlassian tools and AI India’s AI boom exposes a team coordination crunch
• Negative Sentiment: Freshworks’ announcement of an 11% workforce cut — and reminders that Atlassian trimmed roughly 10% last month — is pressuring sector sentiment and raising concerns about near-term demand and cost posture. Freshworks to cut 11% jobs as AI reshapes software sector

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian's product portfolio centers on tools designed to help teams plan, build and support software and business processes.

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