Korea Investment CORP Sells 12,947 Shares of Atlassian Corporation PLC $TEAM

Key Points

• Korea Investment CORP reduced its stake in Atlassian Corporation PLC by 7.6%, now owning approximately 0.06% of the company, valued at $33.50 million.
• CEO Michael Cannon-Brookes and Director Scott Farquhar each sold 7,948 shares of Atlassian at an average price of $208.43, resulting in a 25% decrease in their holdings.
• The company recently reported a 22.3% increase in revenue year-over-year, reaching $1.38 billion, and topped EPS estimates by $0.15.

Korea Investment CORP cut its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 7.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 157,841 shares of the technology company's stock after selling 12,947 shares during the quarter. Korea Investment CORP owned 0.06% of Atlassian worth $33,495,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Brooklyn Investment Group boosted its position in Atlassian by 12.3% during the 1st quarter. Brooklyn Investment Group now owns 1,111 shares of the technology company's stock worth $236,000 after acquiring an additional 122 shares during the period. Makena Capital Management LLC boosted its position in Atlassian by 48.7% during the 1st quarter. Makena Capital Management LLC now owns 45,688 shares of the technology company's stock worth $9,695,000 after acquiring an additional 14,959 shares during the period. Algert Global LLC acquired a new stake in Atlassian during the 1st quarter worth about $4,701,000. Northwest & Ethical Investments L.P. boosted its position in Atlassian by 208.0% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 4,466 shares of the technology company's stock worth $946,000 after acquiring an additional 3,016 shares during the period. Finally, Raymond James Financial Inc. boosted its position in Atlassian by 113.5% during the 1st quarter. Raymond James Financial Inc. now owns 82,703 shares of the technology company's stock worth $17,550,000 after acquiring an additional 43,960 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Stock Performance

Shares of TEAM stock traded up $6.20 during trading on Friday, reaching $170.79. The company had a trading volume of 1,724,901 shares, compared to its average volume of 2,876,878. The firm's 50 day simple moving average is $190.67 and its two-hundred day simple moving average is $218.11. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.26. Atlassian Corporation PLC has a one year low of $154.07 and a one year high of $326.00. The company has a market capitalization of $44.83 billion, a PE ratio of -172.51 and a beta of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data 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 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 the consensus estimate of $1.36 billion. During the same period last year, the business earned $0.66 EPS. The firm's revenue 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. Sell-side analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TEAM shares. BMO Capital Markets decreased their price objective on Atlassian from $225.00 to $200.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. KeyCorp decreased their price objective on Atlassian from $275.00 to $250.00 and set an "overweight" rating for the company in a research report on Thursday, July 17th. Wells Fargo & Company cut their price target on Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a research note on Friday, May 2nd. Barclays cut their price target on Atlassian from $244.00 to $215.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Finally, 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 note on Wednesday, July 16th. One 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. According to data from MarketBeat, Atlassian has an average rating of "Moderate Buy" and an average price target of $256.90.

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $208.43, for a total transaction of $1,656,601.64. Following the completion of the sale, the chief executive officer directly owned 23,844 shares in the company, valued at $4,969,804.92. This represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 7,728 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $163.43, for a total transaction of $1,262,987.04. Following the sale, the president owned 182,801 shares of the company's stock, valued at $29,875,167.43. This trade represents a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 510,134 shares of company stock valued at $99,681,446. Corporate 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.