Insight Holdings Group LLC Trims Position in Atlassian Corporation PLC $TEAM

Key Points

• Insight Holdings Group LLC sold 37,000 shares of Atlassian, reducing its stake by 30.7% to 83,700 shares, which now represents 1.4% of its investment portfolio, valued at approximately $17.76 million.
• Several institutional investors, including Vanguard Group Inc. and Massachusetts Financial Services, have increased their stakes in Atlassian during the same quarter, reflecting strong institutional interest, with 94.45% of the stock owned by institutional investors.
• Wall Street analysts have revised their price targets for Atlassian, with estimates ranging from $200 to $256.90, while the company reported a significant earnings beat in its last quarter, with a revenue increase of 22.3% year-over-year.

Insight Holdings Group LLC lessened its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 30.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,700 shares of the technology company's stock after selling 37,000 shares during the quarter. Atlassian comprises 1.4% of Insight Holdings Group LLC's portfolio, making the stock its 13th largest holding. Insight Holdings Group LLC's holdings in Atlassian were worth $17,762,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in TEAM. Aptus Capital Advisors LLC grew its holdings in Atlassian by 14.0% during the 4th quarter. Aptus Capital Advisors LLC now owns 1,772 shares of the technology company's stock valued at $431,000 after buying an additional 217 shares in the last quarter. Benjamin Edwards Inc. purchased a new position in Atlassian during the 4th quarter valued at about $276,000. Cetera Investment Advisers boosted its position in shares of Atlassian by 11.3% during the 4th quarter. Cetera Investment Advisers now owns 20,639 shares of the technology company's stock valued at $5,023,000 after acquiring an additional 2,091 shares during the last quarter. Colonial Trust Co SC boosted its position in shares of Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock valued at $34,000 after acquiring an additional 69 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Atlassian by 29,445.5% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,000 shares of the technology company's stock valued at $15,820,000 after acquiring an additional 64,780 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Atlassian Price Performance

NASDAQ:TEAM traded up $4.35 during mid-day trading on Friday, reaching $172.43. The stock had a trading volume of 2,352,239 shares, compared to its average volume of 2,583,360. The firm has a 50 day moving average price of $185.63 and a two-hundred day moving average price of $206.83. The stock has a market capitalization of $45.23 billion, a P/E ratio of -174.17 and a beta of 0.95. Atlassian Corporation PLC has a one year low of $154.07 and a one year high of $326.00. 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 (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.15. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted $0.66 EPS. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

TEAM has been the subject of a number of research analyst reports. Oppenheimer dropped their price target on Atlassian from $300.00 to $275.00 and set an "outperform" rating for the company in a research report on Monday, July 21st. Capital One Financial downgraded Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price target for the company. in a research report on Wednesday, July 16th. Cantor Fitzgerald dropped their price target on Atlassian from $256.00 to $240.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Truist Financial set a $230.00 price target on Atlassian in a research report on Friday, August 8th. Finally, Stephens dropped their price target on Atlassian from $221.00 to $202.00 and set an "equal weight" rating for the company in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Atlassian currently has an average rating of "Moderate Buy" and an average price target of $256.90.

Insiders Place Their Bets

In other Atlassian news, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $192.44, for a total value of $1,475,052.60. Following the transaction, the director directly owned 45,990 shares of the company's stock, valued at $8,850,315.60. The trade was a 14.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $192.68, for a total value of $1,476,892.20. Following the completion of the transaction, the chief executive officer directly owned 38,325 shares in the company, valued at $7,384,461. This trade represents a 16.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 520,948 shares of company stock valued at $99,011,032 in the last ninety days. Company insiders own 38.55% of the company's stock.

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.