Panagora Asset Management Inc. Purchases Shares of 384,600 Atlassian Corporation PLC $TEAM

Key Points

• Panagora Asset Management Inc. acquired a significant new stake in Atlassian, purchasing 384,600 shares valued at approximately $81.6 million in the first quarter.
• Institutional investors and hedge funds own about 94.45% of Atlassian's stock, highlighting strong institutional interest in the company.
• Atlassian recently reported earnings of $0.98 per share, surpassing estimates and indicating a 22.3% year-over-year revenue increase.

Panagora Asset Management Inc. purchased a new stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 384,600 shares of the technology company's stock, valued at approximately $81,616,000. Panagora Asset Management Inc. owned about 0.15% of Atlassian as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Farther Finance Advisors LLC grew its position in Atlassian by 37.7% in the first quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company's stock valued at $80,000 after acquiring an additional 101 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Atlassian by 42.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,240 shares of the technology company's stock valued at $900,000 after purchasing an additional 1,259 shares during the last quarter. Principal Financial Group Inc. increased its position in Atlassian by 350.1% during the 1st quarter. Principal Financial Group Inc. now owns 51,900 shares of the technology company's stock worth $11,014,000 after purchasing an additional 40,369 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Atlassian by 47,387.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,799 shares of the technology company's stock valued at $822,000 after purchasing an additional 3,791 shares during the last quarter. Finally, Amalgamated Bank grew its stake in shares of Atlassian by 6.1% during the first quarter. Amalgamated Bank now owns 11,360 shares of the technology company's stock worth $2,411,000 after buying an additional 650 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Trading Down 2.9%

TEAM traded down $5.10 during trading on Tuesday, reaching $172.68. 2,077,827 shares of the stock traded hands, compared to its average volume of 2,386,007. The stock's 50-day moving average is $187.39 and its 200 day moving average is $210.39. Atlassian Corporation PLC has a 12 month low of $154.07 and a 12 month high of $326.00. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $45.30 billion, a PE ratio of -174.42 and a beta of 0.95.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.36 billion. During the same period in the previous year, the business 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. Equities analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Insider Activity at Atlassian

In related news, Director Scott Farquhar sold 7,948 shares of the 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 can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction on Friday, June 6th. The stock was 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 523,766 shares of company stock worth $100,295,342 in the last quarter. Company insiders own 38.55% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on TEAM. UBS Group reissued a "hold" rating on shares of Atlassian in a report on Monday, July 7th. Capital One Financial lowered Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price target on the stock. in a research note on Wednesday, July 16th. Barclays dropped their price objective on shares of Atlassian from $244.00 to $215.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Cantor Fitzgerald reduced their target price on shares of Atlassian from $256.00 to $240.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Finally, Citigroup dropped their price target on shares of Atlassian from $300.00 to $240.00 and set a "buy" rating for the company in a research note on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $256.90.

Atlassian Company Profile

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.