Mirae Asset Global Investments Co. Ltd. Buys 18,830 Shares of Atlassian Corporation PLC $TEAM

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in Atlassian Corporation PLC by 25.8%, acquiring an additional 18,830 shares during the second quarter, bringing its total holdings to 91,823 shares worth approximately $18.6 million.
• Atlassian has received mixed ratings from analysts, with the average rating at "Moderate Buy" and an average price target of $248.74, reflecting a consensus on potential upside.
• Recent insider transactions include CEO Michael Cannon-Brookes selling 7,665 shares for nearly $1.48 million, marking a decrease in ownership, while corporate insiders collectively own 38.55% of the company's stock.

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 25.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 91,823 shares of the technology company's stock after acquiring an additional 18,830 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Atlassian were worth $18,648,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Clean Yield Group increased its holdings in shares of Atlassian by 372.0% during the first quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after acquiring an additional 93 shares in the last quarter. Smithfield Trust Co increased its holdings in shares of Atlassian by 90.7% during the first quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after acquiring an additional 78 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock valued at $42,000 after acquiring an additional 161 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Atlassian by 25.9% during the first quarter. First Horizon Advisors Inc. now owns 267 shares of the technology company's stock valued at $57,000 after acquiring an additional 55 shares in the last quarter. Finally, State of Wyoming increased its holdings in shares of Atlassian by 20.3% during the first quarter. State of Wyoming now owns 278 shares of the technology company's stock valued at $59,000 after acquiring an additional 47 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TEAM. UBS Group restated a "hold" rating on shares of Atlassian in a report on Monday, July 7th. Wells Fargo & Company assumed coverage on Atlassian in a report on Tuesday. They issued an "overweight" rating and a $216.00 price objective for the company. Canaccord Genuity Group reduced their price objective on Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a report on Friday, August 8th. Wall Street Zen upgraded Atlassian from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Finally, Zacks Research upgraded Atlassian from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $248.74.

Insider Buying and Selling

In related news, CEO Michael Cannon-Brookes sold 7,665 shares of the business's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $192.82, for a total value of $1,477,965.30. Following the transaction, the chief executive officer directly owned 390,915 shares of the company's stock, valued at approximately $75,376,230.30. The trade was a 1.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Scott Farquhar sold 7,665 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $189.37, for a total value of $1,451,521.05. Following the completion of the transaction, the director directly owned 406,245 shares in the company, valued at approximately $76,930,615.65. This represents a 1.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 551,608 shares of company stock valued at $99,222,126. Corporate insiders own 38.55% of the company's stock.

Atlassian Stock Down 0.4%

NASDAQ TEAM opened at $150.49 on Friday. The stock's 50 day moving average is $171.67 and its 200 day moving average is $195.39. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73. Atlassian Corporation PLC has a 12 month low of $147.40 and a 12 month high of $326.00. The stock has a market cap of $39.48 billion, a PE ratio of -152.01 and a beta of 0.92.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 EPS for the quarter, topping 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 company had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same period in the previous year, the firm 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. Research analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

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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