FORA Capital LLC Takes $7.57 Million Position in Atlassian Corporation PLC $TEAM

Key Points

• FORA Capital LLC has acquired a new position in Atlassian Corporation PLC, purchasing 35,667 shares valued at approximately $7.6 million, making it the 22nd largest position in their portfolio.
• While several analysts have adjusted their target prices for Atlassian, the stock maintains a consensus rating of "Moderate Buy" with an average price target of around $256.90.
• Atlassian reported a quarterly earnings per share (EPS) of $0.98, surpassing consensus estimates, and demonstrating a revenue increase of 22.3% year-over-year.

FORA Capital LLC acquired a new position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 35,667 shares of the technology company's stock, valued at approximately $7,569,000. Atlassian makes up about 0.8% of FORA Capital LLC's investment portfolio, making the stock its 22nd biggest holding.

Several other institutional investors have also recently bought and sold shares of TEAM. Clean Yield Group grew its stake in shares of Atlassian by 372.0% during the first 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 period. Colonial Trust Co SC raised its holdings in Atlassian by 100.0% in the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock valued at $34,000 after acquiring an additional 69 shares in the last quarter. Smithfield Trust Co grew its position in Atlassian by 90.7% in the first quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after acquiring an additional 78 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of 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 last quarter. Finally, First Horizon Advisors Inc. raised its position 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 worth $57,000 after acquiring an additional 55 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Mizuho dropped their target price 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. Stephens decreased their price target on shares of Atlassian from $221.00 to $202.00 and set an "equal weight" rating for the company in a research note on Monday, August 11th. Raymond James Financial cut their price target on shares of Atlassian from $300.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Wall Street Zen upgraded shares of Atlassian from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. Finally, Wells Fargo & Company dropped their price objective on shares of Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $256.90.

Insider Buying and Selling

In other Atlassian news, Director Scott Farquhar sold 7,665 shares of the firm's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $171.13, for a total transaction of $1,311,711.45. Following the completion of the transaction, the director directly owned 176,295 shares in the company, valued at approximately $30,169,363.35. This trade represents a 4.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Rajeev Bashyam Rajan sold 3,517 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $163.43, for a total transaction of $574,783.31. Following the sale, the chief technology officer directly owned 143,898 shares in the company, valued at $23,517,250.14. This represents a 2.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 524,332 shares of company stock worth $100,882,412 in the last 90 days. Company insiders own 38.55% of the company's stock.

Atlassian Trading Up 0.6%

Atlassian stock traded up $1.00 during midday trading on Friday, hitting $177.78. 2,893,757 shares of the stock were exchanged, compared to its average volume of 2,387,865. Atlassian Corporation PLC has a fifty-two week low of $154.07 and a fifty-two week high of $326.00. The stock has a market capitalization of $46.64 billion, a price-to-earnings ratio of -179.57 and a beta of 0.96. The stock's 50-day simple moving average is $188.49 and its 200 day simple moving average is $214.00. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same period last year, the business earned $0.66 earnings per share. 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. On average, equities analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS 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.