Estate Counselors LLC Takes Position in Atlassian Corporation PLC $TEAM

Key Points

• Estate Counselors LLC acquired 21,820 shares of Atlassian Corporation PLC, valued at approximately $4.63 million, making it the firm's 27th largest holding.
• Atlassian's stock experienced a significant earnings beat with an EPS of $0.98 compared to the expected $0.83, and its revenue for the quarter was $1.38 billion, a growth of 22.3% year-over-year.
• Research analysts have a generally positive outlook on Atlassian, with 18 analysts giving a Buy rating and an average target price of $256.90.

Estate Counselors LLC acquired a new position in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 21,820 shares of the technology company's stock, valued at approximately $4,630,000. Atlassian accounts for approximately 0.5% of Estate Counselors LLC's portfolio, making the stock its 27th largest holding.

Several other hedge funds have also recently bought and sold shares of TEAM. Clean Yield Group grew its position in Atlassian by 372.0% in the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after purchasing an additional 93 shares during the last quarter. Colonial Trust Co SC boosted its position 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 worth $34,000 after buying an additional 69 shares during the period. Smithfield Trust Co grew its holdings in Atlassian by 90.7% in the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock worth $34,000 after buying an additional 78 shares in the last quarter. GeoWealth Management LLC grew its holdings in Atlassian by 26.8% in the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock worth $44,000 after buying an additional 38 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in Atlassian by 82.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company's stock valued at $52,000 after acquiring an additional 110 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Atlassian Price Performance

Shares of Atlassian stock opened at $166.55 on Thursday. The company has a current ratio of 1.22, a quick ratio of 1.26 and a debt-to-equity ratio of 0.73. The company's 50-day moving average price is $191.89 and its two-hundred day moving average price is $220.13. Atlassian Corporation PLC has a 52 week low of $154.07 and a 52 week high of $326.00. The stock has a market cap of $43.72 billion, a PE ratio of -168.23 and a beta of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 earnings per share 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 during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the firm posted $0.66 EPS. The business'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. As a group, sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Insider Activity at Atlassian

In other news, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $208.43, for a total transaction of $1,656,601.64. Following the completion of the sale, the director directly owned 23,844 shares of the company's stock, valued at $4,969,804.92. This represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $208.43, for a total transaction of $1,656,601.64. Following the completion of the transaction, the chief executive officer 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 510,700 shares of company stock worth $100,415,703. 38.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Atlassian from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. Barclays cut their price objective on shares of Atlassian from $244.00 to $215.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Citigroup reduced their price objective on shares of Atlassian from $300.00 to $240.00 and set a "buy" rating for the company in a report on Monday. Piper Sandler reiterated an "overweight" rating and issued a $300.00 target price (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Finally, Cantor Fitzgerald lowered their target price on shares of Atlassian from $256.00 to $240.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $256.90.

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.

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