Kodai Capital Management LP Trims Stake in Atlassian Corporation PLC $TEAM

Key Points

• Kodai Capital Management LP has reduced its stake in Atlassian Corporation PLC by 8.4%, now owning 142,882 shares after selling 13,100 shares in the first quarter.
• Atlassian reported a 22.3% increase in quarterly revenue year-over-year, with earnings per share of $0.98, surpassing analysts' expectations of $0.83.
• Institutions hold about 94.45% of Atlassian's stock, with analysts maintaining a consensus rating of "Moderate Buy" and an average price target of $256.90.

Kodai Capital Management LP reduced its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 142,882 shares of the technology company's stock after selling 13,100 shares during the period. Atlassian makes up about 1.2% of Kodai Capital Management LP's portfolio, making the stock its 29th biggest holding. Kodai Capital Management LP owned approximately 0.05% of Atlassian worth $30,321,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 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 in the last quarter. Baillie Gifford & Co. increased its holdings in Atlassian by 7.1% during the 1st quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company's stock worth $1,845,114,000 after purchasing an additional 573,696 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in 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 worth $730,175,000 after purchasing an additional 616,071 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings in shares of Atlassian by 6.7% in 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 in the last quarter. Finally, Durable Capital Partners LP grew its holdings in shares of Atlassian by 499.7% in the fourth quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company's stock valued at $383,456,000 after acquiring an additional 1,312,820 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Atlassian Stock Performance

Shares of TEAM stock traded down $5.10 during mid-day trading on Tuesday, reaching $172.68. 2,077,657 shares of the company's stock traded hands, compared to its average volume of 2,385,870. 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 Corporation PLC has a 12 month low of $154.07 and a 12 month high of $326.00. The firm has a 50 day moving average price of $187.95 and a two-hundred day moving average price of $210.65. The firm has a market capitalization of $45.30 billion, a PE ratio of -174.42 and a beta of 0.95.

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, 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 company had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter in the previous year, the company earned $0.66 EPS. Atlassian's revenue for the quarter was up 22.3% on a year-over-year basis. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. On average, research analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. BMO Capital Markets dropped 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. Stephens reduced their target price on Atlassian from $221.00 to $202.00 and set an "equal weight" rating on the stock in a research note on Monday, August 11th. Citigroup reduced their price objective on Atlassian from $300.00 to $240.00 and set a "buy" rating on the stock in a research note on Monday, August 18th. Oppenheimer reduced their price objective on Atlassian from $300.00 to $275.00 and set an "outperform" rating on the stock in a research note on Monday, July 21st. Finally, UBS Group reaffirmed a "hold" rating on shares of Atlassian in a research note on Monday, July 7th. One 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 company. According to 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, CEO Michael Cannon-Brookes sold 7,665 shares of the business's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $177.83, for a total value of $1,363,066.95. Following the sale, the chief executive officer owned 160,965 shares in the company, valued at $28,624,405.95. The trade was a 4.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Farquhar sold 7,665 shares of the business's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $177.83, for a total transaction of $1,363,066.95. Following the completion of the sale, the director owned 160,965 shares in the company, valued at approximately $28,624,405.95. The trade was a 4.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 523,766 shares of company stock worth $100,295,342 in the last 90 days. 38.55% of the stock is currently owned by corporate insiders.

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.