EFG Asset Management North America Corp. Invests $928,000 in Atlassian Corporation PLC $TEAM

Key Points

• EFG Asset Management North America Corp. has acquired a new position in Atlassian Corporation PLC, purchasing 4,372 shares valued at approximately $928,000 during the first quarter.
• Several institutional investors, including DZ BANK AG, significantly increased their stakes in Atlassian, reflecting strong interest in the company, which is now 94.45% owned by institutional investors.
• Despite recent rating adjustments by analysts, Atlassian's stock has an average rating of "Moderate Buy" with an average price target of $256.90, indicating continued confidence in its future performance.

EFG Asset Management North America Corp. purchased a new stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,372 shares of the technology company's stock, valued at approximately $928,000.

Several other hedge funds have also made changes to their positions in TEAM. Cinctive Capital Management LP acquired a new stake in Atlassian during the 1st quarter valued at $3,761,000. Curi RMB Capital LLC grew its holdings in shares of Atlassian by 6.2% during the first quarter. Curi RMB Capital LLC now owns 17,862 shares of the technology company's stock valued at $3,790,000 after buying an additional 1,050 shares in the last quarter. Alliancebernstein L.P. raised its position in Atlassian by 8.5% during the first quarter. Alliancebernstein L.P. now owns 155,506 shares of the technology company's stock valued at $33,000,000 after buying an additional 12,246 shares during the period. Banque Transatlantique SA purchased a new stake in Atlassian in the 1st quarter worth about $77,000. Finally, AQR Capital Management LLC boosted its position in Atlassian by 145.6% during the 1st quarter. AQR Capital Management LLC now owns 1,715,287 shares of the technology company's stock worth $354,858,000 after acquiring an additional 1,016,902 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Raymond James Financial dropped their target price on Atlassian from $300.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Mizuho lowered their price objective on shares of Atlassian from $265.00 to $235.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Oppenheimer cut their target price on shares of Atlassian from $300.00 to $275.00 and set an "outperform" rating for the company in a research report on Monday, July 21st. BMO Capital Markets decreased their target price on shares of Atlassian from $225.00 to $200.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Finally, Capital One Financial cut shares of Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price target on the stock. in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Atlassian currently has an average rating of "Moderate Buy" and an average target price of $256.90.

Insider Transactions at Atlassian

In related 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 acquired at an average cost of $173.00 per share, with a total value of $251,715.00. Following the purchase, the director owned 1,455 shares of the company's stock, valued at approximately $251,715. The trade was a ∞ increase in their ownership of the stock. The acquisition 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 company's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $171.90, for a total value of $1,317,613.50. Following the sale, the chief executive officer directly owned 130,305 shares of the company's stock, valued at $22,399,429.50. The trade was a 5.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 520,948 shares of company stock worth $98,346,783. 38.55% of the stock is owned by corporate insiders.

Atlassian Stock Up 5.6%

Shares of TEAM traded up $9.66 during mid-day trading on Tuesday, hitting $182.36. 3,615,644 shares of the company's stock were exchanged, compared to its average volume of 2,396,484. The stock has a market cap of $47.84 billion, a price-to-earnings ratio of -184.20 and a beta of 0.95. The firm has a fifty day moving average of $185.03 and a two-hundred day moving average of $206.04. 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 twelve month low of $154.07 and a twelve month high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.36 billion. Atlassian had a negative net margin of 4.92% and a negative return on equity of 14.77%. Atlassian's revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.66 earnings per share. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. On average, sell-side analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

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.