Graham Capital Management L.P. Takes $6.04 Million Position in Atlassian Corporation PLC $TEAM

Key Points

• Graham Capital Management L.P. has acquired a new stake in Atlassian Corporation PLC, purchasing 28,450 shares valued at approximately $6.04 million during the first quarter.
• Several other hedge funds have also increased their holdings in Atlassian, with institutional investors owning approximately 94.45% of the company's stock.
• Atlassian recently reported earnings of $0.98 per share for the last quarter, beating analysts' expectations and reflecting a 22.3% growth in revenue year-over-year.

Graham Capital Management L.P. bought a new stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 28,450 shares of the technology company's stock, valued at approximately $6,037,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Farther Finance Advisors LLC boosted its holdings in Atlassian by 37.7% during the first quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company's stock worth $80,000 after buying an additional 101 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Atlassian by 42.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,240 shares of the technology company's stock worth $900,000 after buying an additional 1,259 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Atlassian by 350.1% during the first quarter. Principal Financial Group Inc. now owns 51,900 shares of the technology company's stock worth $11,014,000 after buying an additional 40,369 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Atlassian by 47,387.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,799 shares of the technology company's stock worth $822,000 after buying an additional 3,791 shares in the last quarter. Finally, Amalgamated Bank boosted its holdings in Atlassian by 6.1% during the first quarter. Amalgamated Bank now owns 11,360 shares of the technology company's stock worth $2,411,000 after buying an additional 650 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Activity

In related news, President Anutthara Bharadwaj sold 7,728 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $163.43, for a total transaction of $1,262,987.04. Following the completion of the transaction, the president owned 182,801 shares of the company's stock, valued at approximately $29,875,167.43. This represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 23,844 shares of the company's stock, valued at $4,969,804.92. This trade represents a 25.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 539,662 shares of company stock valued at $103,608,546 over the last 90 days. Insiders own 38.55% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on TEAM. Citigroup decreased their price objective on shares of Atlassian from $300.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, August 18th. Capital One Financial downgraded shares of Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price objective on the stock. in a report on Wednesday, July 16th. Wall Street Zen raised shares of Atlassian from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. Raymond James Financial decreased their price objective 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. Finally, Oppenheimer reduced their price target on shares of Atlassian from $300.00 to $275.00 and set an "outperform" rating on the stock in a report on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $256.90.

Atlassian Stock Performance

NASDAQ:TEAM opened at $177.78 on Friday. The firm has a 50 day simple moving average of $188.25 and a 200-day simple moving average of $212.33. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market cap of $46.64 billion, a PE ratio of -179.57 and a beta of 0.96. Atlassian Corporation PLC has a 1-year low of $154.07 and a 1-year high of $326.00.

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 analysts' consensus estimates of $0.83 by $0.15. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.36 billion. Atlassian had a negative net margin of 4.92% and a negative return on equity of 14.77%. The company's revenue was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.66 earnings per share. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. On average, equities analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current 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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