Park Avenue Securities LLC Takes Position in Atlassian Corporation PLC $TEAM

Key Points

• Park Avenue Securities LLC acquired a new position in Atlassian Corporation by purchasing 5,052 shares valued at approximately $1,026,000 during the second quarter.
• Despite recent share sales by insiders, institutional investors own an impressive 94.45% of Atlassian's stock, indicating strong institutional support for the company.
• Recent analyst reports show a downward revision of price targets, with Raymond James reducing their target from $300 to $250, reflecting cautious sentiment in the market.

Park Avenue Securities LLC acquired a new position in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,052 shares of the technology company's stock, valued at approximately $1,026,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TEAM. Avanza Fonder AB purchased a new position in shares of Atlassian in the second quarter valued at $1,914,000. Abacus FCF Advisors LLC boosted its stake in Atlassian by 20.3% in the 2nd quarter. Abacus FCF Advisors LLC now owns 73,937 shares of the technology company's stock worth $15,016,000 after purchasing an additional 12,476 shares during the period. Farther Finance Advisors LLC grew its holdings in Atlassian by 166.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 982 shares of the technology company's stock valued at $199,000 after buying an additional 613 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Atlassian by 170.5% during the second quarter. Assenagon Asset Management S.A. now owns 384,328 shares of the technology company's stock valued at $78,053,000 after buying an additional 242,236 shares during the period. Finally, Perpetual Ltd lifted its holdings in shares of Atlassian by 4.9% in the second quarter. Perpetual Ltd now owns 12,251 shares of the technology company's stock worth $2,488,000 after buying an additional 571 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Raymond James Financial decreased their price objective on shares of Atlassian from $300.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Citigroup cut their target price on shares of Atlassian from $300.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, August 18th. Mizuho dropped their target price on shares of Atlassian from $265.00 to $235.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Barclays dropped their price target on Atlassian from $244.00 to $215.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Finally, Bank of America assumed coverage on shares of Atlassian in a research report on Tuesday. They set a "neutral" rating and a $200.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $253.04.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 7,728 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $163.43, for a total transaction of $1,262,987.04. Following the sale, the president directly owned 182,801 shares in the company, valued at approximately $29,875,167.43. This trade represents a 4.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott Farquhar sold 7,665 shares of the business's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $192.64, for a total value of $1,476,585.60. Following the completion of the transaction, the director directly owned 429,240 shares of the company's stock, valued at approximately $82,688,793.60. This trade represents a 1.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 536,278 shares of company stock worth $98,195,169 in the last three months. Insiders own 38.55% of the company's stock.

Atlassian Stock Up 2.6%

NASDAQ:TEAM opened at $166.65 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.22. The firm's 50-day moving average price is $176.11 and its 200-day moving average price is $197.82. The company has a market capitalization of $43.72 billion, a PE ratio of -168.33 and a beta of 0.95. Atlassian Corporation PLC has a 1-year low of $155.37 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.83 by $0.15. Atlassian had a negative net margin of 4.92% and a negative return on equity of 14.77%. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the firm posted $0.66 earnings per share. Atlassian's quarterly revenue was up 22.3% on a year-over-year basis. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. On average, equities analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

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.

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