Connor Clark & Lunn Investment Management Ltd. Decreases Position in Atlassian Corporation PLC $TEAM

Connor Clark & Lunn Investment Management Ltd. cut its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 95.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,391 shares of the technology company's stock after selling 99,173 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Atlassian were worth $932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Clean Yield Group raised its position in Atlassian by 372.0% during the first quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after purchasing an additional 93 shares during the period. Colonial Trust Co SC grew its stake in shares of Atlassian by 100.0% during the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock valued at $34,000 after buying an additional 69 shares during the last quarter. Smithfield Trust Co grew its stake in shares of Atlassian by 90.7% during the first quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after buying an additional 78 shares during the last quarter. GeoWealth Management LLC grew its stake in shares of Atlassian by 26.8% during the fourth quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock valued at $44,000 after buying an additional 38 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of Atlassian by 82.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company's stock valued at $52,000 after buying an additional 110 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Trading Up 0.2%

NASDAQ:TEAM traded up $0.34 during midday trading on Wednesday, hitting $166.55. The stock had a trading volume of 1,729,987 shares, compared to its average volume of 2,398,917. Atlassian Corporation PLC has a one year low of $154.07 and a one year high of $326.00. The company has a market capitalization of $43.72 billion, a price-to-earnings ratio of -168.23 and a beta of 0.96. The stock has a 50-day moving average of $192.59 and a 200 day moving average of $220.50. The company has a quick ratio of 1.26, a current ratio of 1.22 and a debt-to-equity ratio of 0.73.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data 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. Atlassian had a negative return on equity of 14.77% and a negative net margin of 4.92%.The company had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter in the prior year, the firm earned $0.66 earnings per share. Atlassian'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. As a group, sell-side analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Piper Sandler reaffirmed an "overweight" rating and set a $300.00 target price (down previously from $365.00) on shares of Atlassian in a research note on Friday, May 2nd. Stephens cut their target price on Atlassian from $221.00 to $202.00 and set an "equal weight" rating on the stock in a research note on Monday, August 11th. Canaccord Genuity Group cut their target price on Atlassian from $255.00 to $230.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Truist Financial set a $230.00 target price on Atlassian in a research note on Friday, August 8th. Finally, Raymond James Financial cut their target price on Atlassian from $300.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Atlassian currently has an average rating of "Moderate Buy" and a consensus target price of $256.90.

Insider Activity at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 7,728 shares of the company's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $163.43, for a total transaction of $1,262,987.04. Following the completion of the sale, the president owned 182,801 shares in the company, valued at $29,875,167.43. This represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Scott Farquhar sold 7,665 shares of the company's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $163.26, for a total value of $1,251,387.90. Following the sale, the director owned 245,280 shares of the company's stock, valued at approximately $40,044,412.80. This represents a 3.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 510,700 shares of company stock valued at $100,415,703 over the last 90 days. Insiders own 38.55% of the company's stock.

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.