Oak Ridge Investments LLC Purchases New Position in Atlassian Corporation PLC $TEAM

Key Points

• Oak Ridge Investments LLC purchased 19,783 shares of Atlassian Corporation valued at approximately $4.2 million during the 1st quarter of the year.
• Several institutional investors, including Clean Yield Group and Colonial Trust Co SC, have significantly increased their positions in Atlassian, with hedge funds now owning 94.45% of the company's stock.
• Atlassian reported $0.98 EPS for the last quarter, exceeding analysts' expectations, with revenue of $1.38 billion, marking a 22.3% year-over-year increase.

Oak Ridge Investments LLC bought a new position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 19,783 shares of the technology company's stock, valued at approximately $4,198,000.

Several other hedge funds have also recently modified their holdings of TEAM. Vanguard Group Inc. increased its stake 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 purchasing an additional 580,583 shares during the last quarter. Baillie Gifford & Co. grew its stake in Atlassian by 7.1% in the 1st quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company's stock valued at $1,845,114,000 after buying an additional 573,696 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in 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 valued at $730,175,000 after buying an additional 616,071 shares in the last quarter. Voya Investment Management LLC grew its stake in Atlassian by 17,941.0% in the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock valued at $528,693,000 after buying an additional 2,160,810 shares in the last quarter. Finally, Durable Capital Partners LP grew its stake in Atlassian by 499.7% in the 4th quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company's stock valued at $383,456,000 after buying an additional 1,312,820 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TEAM shares. BMO Capital Markets reduced their price objective on shares of Atlassian from $225.00 to $200.00 and set an "outperform" rating for the company in a research note 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 for the company. in a research note on Wednesday, July 16th. Truist Financial set a $230.00 price objective on shares of Atlassian in a research note on Friday, August 8th. Stephens reduced their price objective on shares of Atlassian from $221.00 to $202.00 and set an "equal weight" rating for the company in a research note on Monday, August 11th. Finally, Barclays reduced their price objective on shares of Atlassian from $244.00 to $215.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $256.90.

Atlassian Price Performance

Shares of NASDAQ TEAM traded down $3.5440 during mid-day trading on Tuesday, reaching $165.6260. 1,012,512 shares of the company were exchanged, compared to its average volume of 2,394,717. 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 1.26 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $43.48 billion, a PE ratio of -167.40 and a beta of 0.96. The company's 50 day moving average price is $193.52 and its 200 day moving average price is $220.88.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly 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 business 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 15.19%. The firm's revenue for the quarter was up 22.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. Sell-side analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $208.43, for a total transaction of $1,656,601.64. Following the completion of the transaction, the director directly owned 23,844 shares of the company's stock, valued at approximately $4,969,804.92. This represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $208.43, for a total transaction of $1,656,601.64. Following the transaction, the chief executive officer directly owned 23,844 shares of the company's stock, valued at approximately $4,969,804.92. This trade represents a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 510,700 shares of company stock valued at $100,415,703. 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.