OFI Invest Asset Management Raises Stake in Atlassian Corporation PLC $TEAM

Key Points

• OFI Invest Asset Management raised its stake in Atlassian by 16.3% to 254,551 shares (worth about $41.27 million), representing roughly 0.10% ownership of the company.
• Atlassian beat quarterly estimates with $1.22 EPS and $1.59 billion revenue (up 23.3% YoY) but still shows a negative net margin (-3.29%) and negative ROE, and analysts forecast -0.34 EPS for the current fiscal year.
• The company launched new AI features for Confluence (Remix open beta) amid cost cuts of about 1,600 jobs; institutional ownership is very high (~94.45%) and insiders have sold roughly 189,973 shares in the last 90 days (insiders own 36.66%).

OFI Invest Asset Management increased its stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 16.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 254,551 shares of the technology company's stock after buying an additional 35,682 shares during the quarter. OFI Invest Asset Management owned 0.10% of Atlassian worth $41,273,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TEAM. Physician Wealth Advisors Inc. raised its stake in Atlassian by 60.4% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company's stock valued at $26,000 after acquiring an additional 61 shares during the period. Geneos Wealth Management Inc. raised its stake in Atlassian by 447.2% in the 1st 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 during the period. Atlantic Union Bankshares Corp raised its stake in Atlassian by 19,900.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company's stock valued at $32,000 after acquiring an additional 199 shares during the period. Board of the Pension Protection Fund bought a new stake in Atlassian in the 4th quarter valued at about $32,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Atlassian in the 3rd quarter valued at about $57,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Price Performance

TEAM stock opened at $63.62 on Thursday. The firm has a 50 day moving average of $80.07 and a 200-day moving average of $127.86. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.62. Atlassian Corporation PLC has a 12 month low of $63.20 and a 12 month high of $242.00. The firm has a market capitalization of $16.78 billion, a P/E ratio of -88.36 and a beta of 0.99.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Friday, February 6th. The technology company reported $1.22 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.10. Atlassian had a negative net margin of 3.29% and a negative return on equity of 6.33%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the business earned $0.96 earnings per share. Atlassian's revenue was up 23.3% compared to the same quarter last year. As a group, sell-side analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Atlassian News Summary

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Atlassian launched new AI features for Confluence (Remix open beta) that turn text into charts, infographics and presentation-ready visuals and added partner agents for its Lov assistant — a strategic product expansion that could increase user engagement and upsell opportunities. Atlassian Launches New AI Features in Confluence to Transform Text into Dynamic Visuals
• Positive Sentiment: Analyst sentiment has shown some support: Zacks upgraded TEAM from "strong sell" to "hold," and broker consensus ratings still skew toward "Moderate Buy," providing partial analyst support to the shares. Zacks.com
• Neutral Sentiment: Arctiq’s integration of Forty8Fifty Labs (part of Verinext) expands a channel/partner ecosystem that could indirectly improve Atlassian services adoption by large customers, but it’s a third-party development with limited immediate revenue impact. Arctiq Integrates Forty8Fifty Labs Brand to Expand Atlassian Expertise and Global Innovation Capabilities
• Negative Sentiment: Reporting around the Confluence AI rollout also highlighted that Atlassian cut roughly 1,600 jobs about a month ago — a reminder of cost pressures and restructuring that can signal disruption and uncertainty to investors. Atlassian brings AI visual tools and partner agents to Confluence, 1 month after cutting 1,600 jobs
• Negative Sentiment: Mattermost and partners are pitching a self-hosted Confluence alternative for defense and critical infrastructure customers affected by Atlassian’s decision to retire some on-premise Confluence options — intensifying competitive and sovereign-cloud risks that could pressure retention in sensitive verticals. Mattermost Challenge To Confluence Exit Meets Atlassian Valuation Discount Concerns

Analyst Ratings Changes

A number of brokerages recently issued reports on TEAM. Weiss Ratings restated a "sell (e+)" rating on shares of Atlassian in a research note on Wednesday, January 21st. Jefferies Financial Group set a $150.00 price objective on Atlassian in a research note on Friday, February 6th. KeyCorp lowered their price objective on Atlassian from $170.00 to $130.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 1st. Robert W. Baird set a $140.00 price objective on Atlassian in a research note on Friday, February 6th. Finally, Guggenheim decreased their price target on Atlassian from $225.00 to $190.00 and set a "buy" rating on the stock in a research report on Friday, February 6th. Twenty analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $179.00.

Insider Buying and Selling

In related news, Director Scott Farquhar sold 7,665 shares of the company's stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $118.19, for a total value of $905,926.35. Following the transaction, the director directly owned 367,920 shares in the company, valued at approximately $43,484,464.80. This represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the company's stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $126.11, for a total transaction of $966,633.15. Following the completion of the transaction, the chief executive officer owned 352,590 shares in the company, valued at approximately $44,465,124.90. This trade represents a 2.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 189,973 shares of company stock valued at $23,479,713 over the last 90 days. 36.66% of the stock is owned by company insiders.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian's product portfolio centers on tools designed to help teams plan, build and support software and business processes.

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