Great Lakes Advisors LLC Has $1.27 Million Holdings in Atlassian Corporation PLC $TEAM

Key Points

• Great Lakes Advisors LLC reduced its holdings in Atlassian Corporation PLC by 25.2%, now owning 5,973 shares worth approximately $1.27 million.
• Several institutional investors increased their stakes in Atlassian, with Jones Financial Companies Lllp significantly growing their position by 2,581.8%, now holding 32,906 shares valued at $6.98 million.
• Despite recent analyst downgrades on price targets, Atlassian reported a 22.3% year-over-year revenue increase, with earnings per share of $0.98 exceeding estimates of $0.83.

Great Lakes Advisors LLC cut its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 25.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,973 shares of the technology company's stock after selling 2,014 shares during the period. Great Lakes Advisors LLC's holdings in Atlassian were worth $1,268,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Caxton Associates LLP acquired a new position in shares of Atlassian during the first quarter worth $542,000. Sciencast Management LP increased its holdings in shares of Atlassian by 236.3% during the first quarter. Sciencast Management LP now owns 7,244 shares of the technology company's stock worth $1,537,000 after buying an additional 5,090 shares in the last quarter. Fred Alger Management LLC acquired a new position in shares of Atlassian during the first quarter worth $932,000. Ashton Thomas Private Wealth LLC increased its holdings in Atlassian by 5.5% in the first quarter. Ashton Thomas Private Wealth LLC now owns 1,412 shares of the technology company's stock valued at $300,000 after purchasing an additional 74 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in Atlassian by 2,581.8% in the first quarter. Jones Financial Companies Lllp now owns 32,906 shares of the technology company's stock valued at $6,983,000 after purchasing an additional 31,679 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TEAM shares. BMO Capital Markets decreased their price objective on Atlassian from $225.00 to $200.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Stephens decreased their price objective on Atlassian from $221.00 to $202.00 and set an "equal weight" rating for the company in a report on Monday, August 11th. Barclays decreased their price objective on Atlassian from $244.00 to $215.00 and set an "overweight" rating for the company in a report on Friday, August 8th. KeyCorp decreased their price objective on Atlassian from $275.00 to $250.00 and set an "overweight" rating for the company in a report on Thursday, July 17th. Finally, Oppenheimer decreased their price objective on Atlassian from $300.00 to $275.00 and set an "outperform" rating for the company in a report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $255.45.

Atlassian Stock Performance

TEAM stock opened at $176.71 on Friday. The stock has a 50-day moving average price of $183.14 and a 200-day moving average price of $204.92. Atlassian Corporation PLC has a 1-year low of $154.07 and a 1-year high of $326.00. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73. The firm has a market cap of $46.36 billion, a PE ratio of -178.49 and a beta of 0.95.

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, 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 during the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the company posted $0.66 EPS. The business's quarterly revenue 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, equities research analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Insider Transactions at Atlassian

In other news, Director Scott Farquhar sold 7,665 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $199.71, for a total transaction of $1,530,777.15. Following the transaction, the director owned 22,995 shares of the company's stock, valued at $4,592,331.45. This represents a 25.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Anutthara Bharadwaj sold 7,728 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $163.43, for a total transaction of $1,262,987.04. Following the transaction, the president directly owned 182,801 shares in the company, valued at $29,875,167.43. This trade represents a 4.06% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 536,278 shares of company stock valued at $100,612,557. Corporate insiders own 38.55% of the company's stock.

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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