HB Wealth Management LLC Acquires 2,497 Shares of Atlassian Corporation PLC $TEAM

Key Points

• HB Wealth Management LLC increased its position in Atlassian Corporation PLC by 31.8%, acquiring an additional 2,497 shares and bringing its total holdings to 10,347 shares, valued at approximately $2.1 million.
• Several institutional investors have significantly increased their stakes in Atlassian, with changes including a 372.0% increase by Clean Yield Group and a 447.2% boost by Geneos Wealth Management Inc.
• Atlassian reported quarterly earnings of $0.98 per share, exceeding analyst expectations of $0.83, with revenues reaching $1.38 billion, marking a 22.3% year-over-year growth.

HB Wealth Management LLC grew its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 31.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,347 shares of the technology company's stock after acquiring an additional 2,497 shares during the quarter. HB Wealth Management LLC's holdings in Atlassian were worth $2,101,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Clean Yield Group lifted its stake in Atlassian by 372.0% in the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after purchasing an additional 93 shares during the last quarter. Smithfield Trust Co lifted its stake in shares of Atlassian by 90.7% in the 1st 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. Geneos Wealth Management Inc. boosted its holdings in shares of Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock valued at $42,000 after acquiring an additional 161 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Atlassian by 25.9% during the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the technology company's stock valued at $57,000 after acquiring an additional 55 shares in the last quarter. Finally, State of Wyoming grew its position in Atlassian by 20.3% during the 1st quarter. State of Wyoming now owns 278 shares of the technology company's stock worth $59,000 after acquiring an additional 47 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

Insider Transactions at Atlassian

In related news, Director Scott Farquhar sold 7,665 shares of the company's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $152.50, for a total value of $1,168,912.50. Following the sale, the director owned 482,895 shares in the company, valued at $73,641,487.50. This represents a 1.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $152.50, for a total value of $1,168,912.50. Following the transaction, the chief executive officer owned 482,895 shares of the company's stock, valued at $73,641,487.50. This trade represents a 1.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 551,608 shares of company stock valued at $99,222,126 over the last three months. Corporate insiders own 38.55% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on TEAM shares. BMO Capital Markets dropped their target price on Atlassian from $225.00 to $200.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. UBS Group reiterated a "hold" rating on shares of Atlassian in a research report on Monday, July 7th. Oppenheimer decreased their price target on shares of Atlassian from $300.00 to $275.00 and set an "outperform" rating for the company in a research report on Monday, July 21st. Canaccord Genuity Group dropped their price target on shares of Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Finally, Capital One Financial cut shares of Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price objective on the stock. in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $248.74.

Atlassian Trading Up 1.0%

NASDAQ TEAM opened at $151.05 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. Atlassian Corporation PLC has a 52 week low of $147.40 and a 52 week high of $326.00. The business has a 50 day moving average price of $172.72 and a 200-day moving average price of $196.11. The company has a market cap of $39.62 billion, a price-to-earnings ratio of -152.57 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 analysts' consensus estimates of $0.83 by $0.15. The company had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.36 billion. Atlassian had a negative return on equity of 14.77% and a negative net margin of 4.92%.Atlassian's quarterly revenue was up 22.3% compared to the same quarter last year. During the same period last year, the business earned $0.66 EPS. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, equities analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share 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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