Lingohr Asset Management GmbH Lowers Stake in Atlassian Corporation PLC $TEAM

Key Points

• Lingohr Asset Management GmbH significantly reduced its stake in Atlassian Corporation PLC by 85.7% during Q2, selling 12,000 shares to end up with 2,000 shares valued at $406,000.
• Several large investors, including Clean Yield Group and Geneos Wealth Management Inc., have increased their positions in Atlassian by substantial percentages in the 1st quarter.
• Analysts have revised their price targets for Atlassian shares downwards, with the average target now at $255.45, while maintaining a general rating of "Moderate Buy."

Lingohr Asset Management GmbH lowered its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 85.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,000 shares of the technology company's stock after selling 12,000 shares during the period. Lingohr Asset Management GmbH's holdings in Atlassian were worth $406,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in TEAM. Clean Yield Group lifted its stake in Atlassian by 372.0% in the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after buying an additional 93 shares in the last quarter. Smithfield Trust Co lifted its stake in Atlassian by 90.7% in the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after buying an additional 78 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock valued at $42,000 after buying an additional 161 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Atlassian by 82.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company's stock valued at $52,000 after buying an additional 110 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in Atlassian by 25.9% in the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the technology company's stock valued at $57,000 after buying an additional 55 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on TEAM shares. BMO Capital Markets cut their price objective on shares of Atlassian from $225.00 to $200.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Mizuho cut their price objective on shares of Atlassian from $265.00 to $235.00 and set an "outperform" rating for the company in a report on Friday, August 8th. KeyCorp cut their price objective on shares of Atlassian from $275.00 to $250.00 and set an "overweight" rating for the company in a report on Thursday, July 17th. Canaccord Genuity Group cut their price objective on shares of Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a report on Friday, August 8th. Finally, Truist Financial set a $230.00 price objective on shares of Atlassian in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $255.45.

Atlassian Stock Down 1.0%

Atlassian stock opened at $174.87 on Monday. The company has a market capitalization of $45.87 billion, a PE ratio of -176.63 and a beta of 0.95. 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 fifty-two week low of $154.07 and a fifty-two week high of $326.00. The firm has a 50 day moving average price of $182.36 and a 200 day moving average price of $203.05.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 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 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 business posted $0.66 earnings per share. The company's quarterly 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. Research analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Insider Transactions at Atlassian

In other news, President Anutthara Bharadwaj sold 7,728 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $163.43, for a total transaction of $1,262,987.04. Following the completion of the transaction, the president directly owned 182,801 shares in the company, valued at $29,875,167.43. This trade represents a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the firm's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $203.66, for a total value of $1,561,053.90. Following the transaction, the chief executive officer owned 7,665 shares of the company's stock, valued at approximately $1,561,053.90. This represents a 50.00% 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 $97,536,133 over the last ninety days. Company insiders own 38.55% of the company's stock.

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.

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