Ilmarinen Mutual Pension Insurance Co Cuts Stake in Atlassian Corporation PLC $TEAM

Key Points

• Ilmarinen Mutual Pension Insurance Co reduced its stake in Atlassian Corporation by 55%, now holding 27,000 shares valued at approximately $5.73 million.
• CEO Michael Cannon-Brookes and Director Scott Farquhar both sold 7,665 shares at an average price of $171.59, resulting in a 5.88% decrease in their respective stakes.
• Equities analysts have recently adjusted price targets for Atlassian, with consensus reaching $256.90 after several ratings were lowered, indicating mixed sentiment toward the stock's performance.

Ilmarinen Mutual Pension Insurance Co trimmed its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 55.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 27,000 shares of the technology company's stock after selling 33,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Atlassian were worth $5,730,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TEAM. Nuveen LLC purchased a new stake in shares of Atlassian during the 1st quarter valued at about $327,665,000. AQR Capital Management LLC boosted its holdings in shares of Atlassian by 145.6% during the 1st quarter. AQR Capital Management LLC now owns 1,715,287 shares of the technology company's stock valued at $354,858,000 after acquiring an additional 1,016,902 shares during the last quarter. Whale Rock Capital Management LLC purchased a new stake in shares of Atlassian during the 4th quarter valued at about $170,943,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of Atlassian by 21.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,440,813 shares of the technology company's stock valued at $730,175,000 after acquiring an additional 616,071 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Atlassian by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 16,993,537 shares of the technology company's stock valued at $3,606,198,000 after acquiring an additional 580,583 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $171.59, for a total transaction of $1,315,237.35. Following the completion of the sale, the chief executive officer directly owned 122,640 shares of the company's stock, valued at $21,043,797.60. This trade represents a 5.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Scott Farquhar sold 7,665 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $171.59, for a total transaction of $1,315,237.35. Following the sale, the director directly owned 122,640 shares of the company's stock, valued at approximately $21,043,797.60. This trade represents a 5.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 536,278 shares of company stock valued at $100,977,258 in the last three months. 38.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. 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. Barclays lowered their price objective on shares of Atlassian from $244.00 to $215.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Raymond James Financial lowered their price objective on shares of Atlassian from $300.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Oppenheimer lowered their price objective on shares of Atlassian from $300.00 to $275.00 and set an "outperform" rating on the stock in a research note on Monday, July 21st. Finally, Stephens decreased their target price on shares of Atlassian from $221.00 to $202.00 and set an "equal weight" rating on the stock in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $256.90.

Atlassian Price Performance

NASDAQ TEAM opened at $182.36 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73. Atlassian Corporation PLC has a 12 month low of $154.07 and a 12 month high of $326.00. The company's 50 day moving average is $184.52 and its two-hundred day moving average is $205.87. The stock has a market cap of $47.84 billion, a price-to-earnings ratio of -184.20 and a beta of 0.95.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.15. Atlassian had a negative net margin of 4.92% and a negative return on equity of 14.77%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the firm posted $0.66 EPS. The company's 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 anticipate that Atlassian Corporation PLC will post -0.34 earnings per share 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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