Jacobs Levy Equity Management Inc. Has $125.59 Million Holdings in Atlassian Corporation PLC $TEAM

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in Atlassian Corporation PLC by 46.6%, holding 591,804 shares valued at approximately $125.59 million.
• Atlassian's stock has faced multiple price target reductions from analysts; Cantor Fitzgerald lowered theirs from $256.00 to $240.00 while BMO Capital Markets decreased theirs from $225.00 to $200.00.
• The company reported a quarterly EPS of $0.98, exceeding analysts' expectations of $0.83, alongside a 22.3% increase in year-over-year revenue to $1.38 billion.

Jacobs Levy Equity Management Inc. lowered its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 46.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 591,804 shares of the technology company's stock after selling 515,680 shares during the period. Jacobs Levy Equity Management Inc. owned 0.23% of Atlassian worth $125,587,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Atlassian by 3.5% during the first 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. Baillie Gifford & Co. boosted its stake in shares of Atlassian by 7.1% during the first quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company's stock valued at $1,845,114,000 after acquiring an additional 573,696 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Atlassian by 21.8% during the first 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. T. Rowe Price Investment Management Inc. boosted its stake in shares of Atlassian by 6.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,972,130 shares of the technology company's stock valued at $418,506,000 after acquiring an additional 124,432 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Atlassian by 145.6% during the first 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. Institutional investors and hedge funds own 94.45% of the company's stock.

Insider Activity

In other news, Director Scott Belsky bought 1,455 shares of the company's stock in a transaction on Thursday, August 28th. The shares were bought at an average cost of $173.00 per share, with a total value of $251,715.00. Following the transaction, the director directly owned 1,455 shares in the company, valued at approximately $251,715. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Scott Farquhar sold 7,665 shares of the company's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $171.90, for a total value of $1,317,613.50. Following the completion of the transaction, the director directly owned 130,305 shares in the company, valued at approximately $22,399,429.50. The trade was a 5.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 520,948 shares of company stock worth $98,346,783 over the last 90 days. 38.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. BMO Capital Markets decreased their price objective on Atlassian from $225.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Oppenheimer decreased their price target on Atlassian from $300.00 to $275.00 and set an "outperform" rating on the stock in a research note on Monday, July 21st. Capital One Financial lowered Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price target on the stock. in a research note on Wednesday, July 16th. Zacks Research raised Atlassian from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 20th. Finally, Barclays decreased their price target on Atlassian from $244.00 to $215.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $256.90.

Atlassian Stock Performance

Shares of NASDAQ:TEAM traded up $9.66 on Tuesday, hitting $182.36. The company's stock had a trading volume of 3,617,160 shares, compared to its average volume of 2,396,488. Atlassian Corporation PLC has a 12 month low of $154.07 and a 12 month high of $326.00. The company has a market capitalization of $47.84 billion, a price-to-earnings ratio of -184.20 and a beta of 0.95. The stock's 50-day moving average is $185.03 and its two-hundred day moving average is $206.04. 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 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 company had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter in the prior year, the business posted $0.66 earnings per share. The company's revenue for the quarter was up 22.3% compared to the same quarter last year. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. On average, equities research analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current year.

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.