Norinchukin Bank The Raises Stake in Atlassian Corporation PLC $TEAM

Key Points

• Norinchukin Bank significantly increased its stake in Atlassian Corporation by 174.8%, bringing its total holdings to 4,480 shares worth approximately $951,000 as of its latest SEC filing.
• Atlassian reported $0.98 earnings per share for the last quarter, exceeding the consensus estimate of $0.83, with a year-over-year revenue increase of 22.3%.
• Despite positive earnings, several analysts lowered their price targets for Atlassian, with the average target now at $256.90, reflecting mixed sentiments about the stock's future performance.

Norinchukin Bank The raised its position in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 174.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,480 shares of the technology company's stock after acquiring an additional 2,850 shares during the quarter. Norinchukin Bank The's holdings in Atlassian were worth $951,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TEAM. Vanguard Group Inc. lifted its position in shares of Atlassian by 3.5% during 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. grew its stake in shares of Atlassian by 7.1% during the 1st quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company's stock worth $1,845,114,000 after purchasing an additional 573,696 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Atlassian by 21.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,440,813 shares of the technology company's stock worth $730,175,000 after buying an additional 616,071 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Atlassian by 6.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,972,130 shares of the technology company's stock worth $418,506,000 after buying an additional 124,432 shares in the last quarter. Finally, Durable Capital Partners LP boosted its position in shares of Atlassian by 499.7% in the 4th quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company's stock worth $383,456,000 after buying an additional 1,312,820 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Atlassian Stock Up 3.8%

Shares of NASDAQ:TEAM opened at $170.79 on Friday. Atlassian Corporation PLC has a 52-week low of $154.07 and a 52-week high of $326.00. The company has a quick ratio of 1.26, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $44.83 billion, a price-to-earnings ratio of -172.51 and a beta of 0.96. The company has a 50 day moving average of $190.67 and a two-hundred day moving average of $217.40.

Atlassian (NASDAQ:TEAM - Get Free Report) last released 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. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. Atlassian had a negative net margin of 4.92% and a negative return on equity of 14.77%. The company's revenue was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 EPS. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TEAM shares. Mizuho reduced their target price on shares of Atlassian from $265.00 to $235.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. BMO Capital Markets cut their price objective on shares of Atlassian from $225.00 to $200.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Capital One Financial lowered shares of Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price objective on the stock. in a report on Wednesday, July 16th. UBS Group restated a "hold" rating on shares of Atlassian in a report on Monday, July 7th. Finally, Truist Financial set a $230.00 price target on shares of Atlassian in a report on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Atlassian currently has an average rating of "Moderate Buy" and an average target price of $256.90.

Insider Activity

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $166.30, for a total value of $1,274,689.50. Following the completion of the transaction, the chief executive officer directly owned 206,955 shares in the company, valued at $34,416,616.50. The trade was a 3.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $166.30, for a total value of $1,274,689.50. Following the completion of the transaction, the director owned 206,955 shares of the company's stock, valued at approximately $34,416,616.50. The trade was a 3.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 510,134 shares of company stock valued at $99,681,446 over the last quarter. 38.55% of the stock is owned by company insiders.

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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