Paloma Partners Management Co Acquires 25,066 Shares of Atlassian Corporation PLC $TEAM

Key Points

• Paloma Partners Management Co significantly increased its stake in Atlassian Corporation PLC by 1,022.3% in the first quarter, acquiring an additional 25,066 shares for a total of 27,518 shares valued at approximately $5.84 million.
• CEO Michael Cannon-Brookes and President Anutthara Bharadwaj both sold shares of Atlassian recently, indicating a decrease in their holdings, with insiders collectively selling over 539,000 shares in the last ninety days.
• Research analysts have varied outlooks on Atlassian, with price targets ranging from $215.00 to $256.00 and a consensus rating of "Moderate Buy" based on the company's recent earnings performance and forecasts.

Paloma Partners Management Co raised its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 1,022.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,518 shares of the technology company's stock after purchasing an additional 25,066 shares during the period. Paloma Partners Management Co's holdings in Atlassian were worth $5,840,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Dimensional Fund Advisors LP grew its holdings in shares of Atlassian by 3.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 157,752 shares of the technology company's stock valued at $38,398,000 after buying an additional 5,878 shares during the last quarter. Lido Advisors LLC raised its position in shares of Atlassian by 6.2% in the fourth quarter. Lido Advisors LLC now owns 1,788 shares of the technology company's stock worth $435,000 after acquiring an additional 104 shares during the period. Comerica Bank lifted its stake in Atlassian by 14.5% in the 4th quarter. Comerica Bank now owns 31,728 shares of the technology company's stock valued at $7,722,000 after buying an additional 4,027 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in Atlassian by 6.8% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 35,449 shares of the technology company's stock valued at $8,628,000 after buying an additional 2,253 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Atlassian in the 4th quarter valued at about $4,606,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TEAM. UBS Group restated a "hold" rating on shares of Atlassian in a report on Monday, July 7th. Raymond James Financial decreased their price target on shares of Atlassian from $300.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. BMO Capital Markets decreased their price objective on shares of Atlassian from $225.00 to $200.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Atlassian from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. Finally, Cantor Fitzgerald dropped their price target on shares of Atlassian from $256.00 to $240.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Atlassian presently has a consensus rating of "Moderate Buy" and a consensus target price of $256.90.

Insider Activity

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $216.09, for a total transaction of $1,717,483.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $216.09, for a total transaction of $1,717,483.32. The disclosure for this sale can be found here. Insiders have sold a total of 521,514 shares of company stock valued at $99,822,422 over the last 90 days. 38.55% of the stock is currently owned by company insiders.

Atlassian Price Performance

Atlassian stock traded down $2.00 during trading hours on Wednesday, hitting $170.68. 2,805,970 shares of the company traded hands, compared to its average volume of 3,057,627. The firm's 50-day simple moving average is $186.84 and its two-hundred day simple moving average is $210.12. The firm has a market cap of $44.77 billion, a P/E ratio of -172.40 and a beta of 0.95. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. Atlassian Corporation PLC has a 1-year low of $154.07 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Thursday, August 7th. The technology company reported $0.98 EPS 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 analysts' expectations of $1.36 billion. Atlassian had a negative net margin of 4.92% and a negative return on equity of 14.77%. The business's revenue for the quarter was up 22.3% on a year-over-year basis. During the same period last year, the company posted $0.66 earnings per share. 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.

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.