Hsbc Holdings PLC Has $29.38 Million Stock Holdings in Atlassian Corporation PLC $TEAM

Key Points

• Hsbc Holdings PLC reduced its stake in Atlassian Corporation PLC by 1.2%, owning 139,182 shares valued at approximately $29.38 million.
• CEO Michael Cannon-Brookes and Director Scott Farquhar each sold 7,948 shares, representing a 25% decrease in their ownership.
• Atlassian's quarterly earnings surpassed estimates, reporting $0.98 EPS against a consensus of $0.83, with revenue of $1.38 billion, showing a year-over-year increase of 22.3%.

Hsbc Holdings PLC decreased its stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 139,182 shares of the technology company's stock after selling 1,714 shares during the period. Hsbc Holdings PLC owned 0.05% of Atlassian worth $29,384,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pinnacle Wealth Management LLC bought a new stake in shares of Atlassian during the 1st quarter valued at about $481,000. Quantbot Technologies LP boosted its position in shares of Atlassian by 740.1% during the 1st quarter. Quantbot Technologies LP now owns 94,179 shares of the technology company's stock valued at $19,986,000 after purchasing an additional 82,968 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Atlassian by 87.4% during the 1st quarter. Wellington Management Group LLP now owns 880,406 shares of the technology company's stock valued at $186,831,000 after purchasing an additional 410,530 shares in the last quarter. Brooklyn Investment Group boosted its position in shares of Atlassian by 12.3% during the 1st quarter. Brooklyn Investment Group now owns 1,111 shares of the technology company's stock valued at $236,000 after purchasing an additional 122 shares in the last quarter. Finally, Makena Capital Management LLC boosted its position in shares of Atlassian by 48.7% during the 1st quarter. Makena Capital Management LLC now owns 45,688 shares of the technology company's stock valued at $9,695,000 after purchasing an additional 14,959 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm'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 value of $1,656,601.64. Following the transaction, the chief executive officer owned 23,844 shares in the company, valued at $4,969,804.92. This trade represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $208.43, for a total value of $1,656,601.64. Following the completion of the transaction, the director owned 23,844 shares in the company, valued at $4,969,804.92. This represents a 25.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 510,134 shares of company stock worth $99,681,446 over the last 90 days. 38.55% of the stock is currently owned by corporate insiders.

Atlassian Stock Up 3.8%

Shares of NASDAQ:TEAM opened at $170.79 on Friday. The business's 50 day simple moving average is $190.67 and its two-hundred day simple moving average is $218.11. The firm has a market cap of $44.83 billion, a P/E ratio of -172.51 and a beta of 0.96. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.26 and a current ratio of 1.22. Atlassian Corporation PLC has a 52-week low of $154.07 and a 52-week 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 (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 business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the company earned $0.66 earnings per share. The company'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, research analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TEAM shares. Oppenheimer cut their target price on Atlassian from $300.00 to $275.00 and set an "outperform" rating on the stock in a research report on Monday, July 21st. Citigroup cut their target price on Atlassian from $300.00 to $240.00 and set a "buy" rating on the stock in a research report on Monday. UBS Group restated a "hold" rating on shares of Atlassian in a research report on Monday, July 7th. Truist Financial set a $230.00 target price on Atlassian in a research report on Friday, August 8th. Finally, Canaccord Genuity Group cut their price target on Atlassian from $255.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, August 8th. 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 company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $256.90.

About Atlassian

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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