Hardman Johnston Global Advisors LLC Has $99.33 Million Position in Atlassian Corporation PLC $TEAM

Key Points

• Hardman Johnston Global Advisors LLC reduced its stake in Atlassian Corporation PLC by 6.3% in Q2, now holding approximately $99.33 million worth of shares, making it their 7th largest investment.
• Several institutional investors significantly increased their positions in Atlassian, with Clean Yield Group boosting its stake by 372% during the first quarter.
• Analysts have mixed views on Atlassian, with recent upgrades and target prices ranging widely, while the consensus price target stands at $248.74.

Hardman Johnston Global Advisors LLC trimmed its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 6.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 489,090 shares of the technology company's stock after selling 33,012 shares during the quarter. Atlassian makes up approximately 4.4% of Hardman Johnston Global Advisors LLC's investment portfolio, making the stock its 7th biggest holding. Hardman Johnston Global Advisors LLC owned about 0.19% of Atlassian worth $99,329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TEAM. Clean Yield Group boosted its position in Atlassian by 372.0% during the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after acquiring an additional 93 shares in the last quarter. Smithfield Trust Co lifted its stake in shares of Atlassian by 90.7% during the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock worth $34,000 after purchasing an additional 78 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Atlassian by 447.2% in the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock worth $42,000 after purchasing an additional 161 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Atlassian by 25.9% in the first quarter. First Horizon Advisors Inc. now owns 267 shares of the technology company's stock worth $57,000 after purchasing an additional 55 shares in the last quarter. Finally, State of Wyoming raised its holdings in Atlassian by 20.3% in the first quarter. State of Wyoming now owns 278 shares of the technology company's stock worth $59,000 after purchasing an additional 47 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TEAM. Zacks Research raised shares of Atlassian from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 20th. Truist Financial set a $230.00 target price on shares of Atlassian in a research note on Friday, August 8th. Guggenheim started coverage on Atlassian in a report on Thursday, September 11th. They set a "buy" rating and a $225.00 price objective for the company. 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. Finally, UBS Group reaffirmed a "hold" rating on shares of Atlassian in a research report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $248.74.

Insider Activity at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 7,728 shares of the company's stock in a transaction 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 directly owned 182,801 shares in the company, valued at approximately $29,875,167.43. This represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $192.82, for a total transaction of $1,477,965.30. Following the completion of the sale, the chief executive officer owned 390,915 shares in the company, valued at approximately $75,376,230.30. This trade represents a 1.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 551,608 shares of company stock worth $99,222,126 in the last 90 days. Corporate insiders own 38.55% of the company's stock.

Atlassian Price Performance

NASDAQ:TEAM opened at $151.05 on Friday. The firm has a market cap of $39.62 billion, a price-to-earnings ratio of -152.57 and a beta of 0.92. The firm's fifty day moving average is $172.72 and its two-hundred day moving average is $196.11. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.22 and a current ratio of 1.22. Atlassian Corporation PLC has a one year low of $147.40 and a one year high of $326.00.

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 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 company 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. Atlassian'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. Research analysts expect 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.