Fortis Capital Advisors LLC Sells 3,277 Shares of Atlassian Corporation PLC $TEAM

Key Points

• Fortis Capital Advisors LLC reduced its stake in Atlassian Corporation PLC by 76.1%, selling 3,277 shares and bringing their total shares owned down to 1,029, valued at $209,000.
• Multiple institutional investors increased their positions in Atlassian during the second quarter, with Principal Financial Group Inc. notably raising its stake by 350.1%.
• Atlassian's stock has a consensus rating of "Moderate Buy" with an average price target of $248.74, according to analyst reports.

Fortis Capital Advisors LLC lowered its position in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 76.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,029 shares of the technology company's stock after selling 3,277 shares during the period. Fortis Capital Advisors LLC's holdings in Atlassian were worth $209,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. One Wealth Advisors LLC raised its position in shares of Atlassian by 56.7% in the 2nd quarter. One Wealth Advisors LLC now owns 4,436 shares of the technology company's stock worth $901,000 after acquiring an additional 1,606 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Atlassian by 37.7% in the 1st quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company's stock worth $80,000 after acquiring an additional 101 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Atlassian by 42.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,240 shares of the technology company's stock worth $900,000 after acquiring an additional 1,259 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Atlassian by 350.1% in the 1st quarter. Principal Financial Group Inc. now owns 51,900 shares of the technology company's stock worth $11,014,000 after acquiring an additional 40,369 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Atlassian by 47,387.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,799 shares of the technology company's stock valued at $822,000 after buying an additional 3,791 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TEAM shares. Wall Street Zen raised Atlassian from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Truist Financial set a $230.00 price objective on Atlassian in a research report on Friday, August 8th. Raymond James Financial reduced their price objective on Atlassian from $300.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Citigroup reduced their price objective on Atlassian from $300.00 to $240.00 and set a "buy" rating for the company in a research report on Monday, August 18th. Finally, UBS Group reaffirmed a "hold" rating on shares of Atlassian in a research report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Atlassian has a consensus rating of "Moderate Buy" and an average price target of $248.74.

Insider Transactions at Atlassian

In other news, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $152.50, for a total value of $1,168,912.50. Following the sale, the director directly owned 482,895 shares of the company's stock, valued at approximately $73,641,487.50. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Scott Belsky bought 1,566 shares of Atlassian stock in a transaction dated Wednesday, October 1st. The stock was purchased at an average cost of $153.10 per share, for a total transaction of $239,754.60. Following the completion of the acquisition, the director directly owned 3,021 shares of the company's stock, valued at approximately $462,515.10. The trade was a 107.63% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 551,608 shares of company stock valued at $99,222,126. 38.55% of the stock is currently owned by insiders.

Atlassian Price Performance

NASDAQ:TEAM opened at $150.49 on Friday. Atlassian Corporation PLC has a 52 week low of $147.40 and a 52 week high of $326.00. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. The business's 50-day simple moving average is $171.67 and its two-hundred day simple moving average is $195.39. The stock has a market cap of $39.48 billion, a PE ratio of -152.01 and a beta of 0.92.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results 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 firm had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. The business'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, analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

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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