Lord Abbett & CO. LLC Has $88.72 Million Stock Holdings in Atlassian Corporation PLC $TEAM

Key Points

• Lord Abbett & CO. LLC significantly increased its stake in Atlassian Corporation by 349.6% in Q1, owning a total of 418,087 shares valued at approximately $88.7 million.
• Insider transactions include CEO Michael Cannon-Brookes and Director Scott Farquhar both selling 7,665 shares at an average price of $163.51, representing a decrease in ownership by 2.78%.
• Analysts are divided on Atlassian, with a mix of target price adjustments, including Raymond James setting a target at $250.00 while others like Barclays reduced their price target to $215.00.

Lord Abbett & CO. LLC increased its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 349.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 418,087 shares of the technology company's stock after buying an additional 325,087 shares during the quarter. Lord Abbett & CO. LLC owned 0.16% of Atlassian worth $88,722,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Clean Yield Group boosted its stake in shares of 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 purchasing an additional 93 shares in the last quarter. Colonial Trust Co SC lifted its holdings in 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 purchasing an additional 69 shares during the last quarter. Smithfield Trust Co boosted its position in Atlassian by 90.7% in the first 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. GeoWealth Management LLC grew its stake in Atlassian by 26.8% during the fourth quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock worth $44,000 after buying an additional 38 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Atlassian by 82.7% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company's stock valued at $52,000 after acquiring an additional 110 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Scott Farquhar sold 7,665 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $163.26, for a total transaction of $1,251,387.90. Following the completion of the sale, the director directly owned 245,280 shares of the company's stock, valued at approximately $40,044,412.80. This represents a 3.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Rajeev Bashyam Rajan sold 3,517 shares of Atlassian stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $163.43, for a total transaction of $574,783.31. Following the completion of the transaction, the chief technology officer directly owned 143,898 shares in the company, valued at approximately $23,517,250.14. The trade was a 2.39% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 510,700 shares of company stock valued at $100,415,703. 38.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TEAM has been the topic of a number of research analyst reports. UBS Group restated a "hold" rating on shares of Atlassian in a research report on Monday, July 7th. Truist Financial set a $230.00 target price on Atlassian in a research note on Friday, August 8th. Wells Fargo & Company reduced their price target on shares of Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Canaccord Genuity Group lowered their price objective on shares of Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Raymond James Financial dropped their target price on shares of Atlassian from $300.00 to $250.00 and set an "outperform" rating for the company 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 five have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $256.90.

Atlassian Trading Down 1.6%

Shares of NASDAQ:TEAM traded down $2.7060 during midday trading on Tuesday, hitting $166.4640. The company had a trading volume of 886,888 shares, compared to its average volume of 2,394,006. The stock has a market cap of $43.70 billion, a price-to-earnings ratio of -167.86 and a beta of 0.96. The firm has a fifty day simple moving average of $193.52 and a 200 day simple moving average of $220.88. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. Atlassian Corporation PLC has a 12 month low of $154.07 and a 12 month high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.15. Atlassian had a negative net margin of 4.92% and a negative return on equity of 15.19%. The company had revenue of $1.38 billion for 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 business'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, analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current year.

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.