Martingale Asset Management L P Purchases Shares of 2,014 Atlassian Corporation PLC $TEAM

Key Points

• Martingale Asset Management has acquired a new position in Atlassian Corporation worth approximately $427,000, purchasing 2,014 shares during the first quarter.
• Several institutional investors have increased their holdings in Atlassian, with Vanguard Group Inc. owning over $3.6 billion worth of shares after a 3.5% increase in holdings.
• Despite recent price target reductions from several analysts, Atlassian maintains a consensus rating of "Moderate Buy" with a target price of $256.90.

Martingale Asset Management L P acquired a new position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,014 shares of the technology company's stock, valued at approximately $427,000.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Atlassian by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 16,993,537 shares of the technology company's stock worth $3,606,198,000 after buying an additional 580,583 shares during the last quarter. Baillie Gifford & Co. lifted its position in Atlassian by 7.1% in 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 purchasing an additional 573,696 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Atlassian by 21.8% in 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 purchasing an additional 616,071 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in 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 purchasing an additional 124,432 shares during the last quarter. Finally, Durable Capital Partners LP lifted its position in 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 purchasing an additional 1,312,820 shares during the last quarter. Institutional investors own 94.45% of the company's stock.

Insider Activity at Atlassian

In related news, Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $208.43, for a total value of $1,656,601.64. Following the completion of the transaction, the director directly owned 23,844 shares in the company, valued at approximately $4,969,804.92. This trade represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Anutthara Bharadwaj sold 7,728 shares of Atlassian stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $163.43, for a total value of $1,262,987.04. Following the completion of the transaction, the president owned 182,801 shares of the company's stock, valued at approximately $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. Over the last three months, insiders sold 524,332 shares of company stock worth $100,882,412. Company insiders own 38.55% of the company's stock.

Atlassian Price Performance

Atlassian stock traded up $1.00 during trading on Friday, reaching $177.78. The company had a trading volume of 2,893,757 shares, compared to its average volume of 2,387,865. Atlassian Corporation PLC has a 1-year low of $154.07 and a 1-year high of $326.00. The firm's 50-day simple moving average is $188.49 and its 200 day simple moving average is $214.00. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market capitalization of $46.64 billion, a PE ratio of -179.57 and a beta of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating 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 period in the prior year, the business earned $0.66 EPS. The firm'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. As a group, equities research analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

TEAM has been the subject of a number of research analyst reports. Oppenheimer dropped their price target on Atlassian from $300.00 to $275.00 and set an "outperform" rating for the company in a research note on Monday, July 21st. BMO Capital Markets dropped their price target on shares of Atlassian from $225.00 to $200.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Macquarie lowered their price target on Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Zacks Research raised Atlassian from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 20th. Finally, Cantor Fitzgerald decreased their target price on Atlassian from $256.00 to $240.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. One investment 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $256.90.

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.