Atlassian Corporation PLC $TEAM Holdings Trimmed by Parnassus Investments LLC

Key Points

• Parnassus Investments LLC has reduced its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 21.5%, selling 70,017 shares, and now owns approximately 255,350 shares valued at $54.2 million.
• Hedge funds continue to show interest in Atlassian, with several having increased their positions significantly, including Clean Yield Group, which boosted its position by 372%.
• Recent analyst ratings indicate a consensus "Moderate Buy" on Atlassian's stock, with a slight decrease in target prices from multiple firms, the average target now set at $256.90.

Parnassus Investments LLC lowered its holdings in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 21.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 255,350 shares of the technology company's stock after selling 70,017 shares during the period. Parnassus Investments LLC owned approximately 0.10% of Atlassian worth $54,188,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Clean Yield Group increased its holdings in Atlassian by 372.0% in the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after purchasing an additional 93 shares in the last quarter. Colonial Trust Co SC boosted its position in shares of Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after buying an additional 69 shares during the period. Smithfield Trust Co grew its stake in shares of Atlassian by 90.7% in the first quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after buying an additional 78 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Atlassian by 82.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company's stock valued at $52,000 after buying an additional 110 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in shares of Atlassian by 25.9% during the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the technology company's stock valued at $57,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 94.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TEAM. Zacks Research upgraded Atlassian from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 20th. Stephens reduced their target price on shares of Atlassian from $221.00 to $202.00 and set an "equal weight" rating on the stock in a research report on Monday, August 11th. Truist Financial set a $230.00 price target on shares of Atlassian in a report on Friday, August 8th. Barclays cut their price objective on shares of Atlassian from $244.00 to $215.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Finally, Mizuho lowered their target price on Atlassian from $265.00 to $235.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. One 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 company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $256.90.

Atlassian Stock Performance

NASDAQ TEAM traded down $5.18 during trading hours on Tuesday, reaching $172.60. The company's stock had a trading volume of 1,655,538 shares, compared to its average volume of 2,381,570. The stock has a market cap of $45.28 billion, a PE ratio of -174.34 and a beta of 0.95. The business has a 50-day simple moving average of $187.95 and a 200 day simple moving average of $210.65. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73. Atlassian Corporation PLC has a 52 week low of $154.07 and a 52 week high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results 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 analysts' expectations of $1.36 billion. During the same period last year, the business posted $0.66 earnings per share. The firm's quarterly 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 research analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Atlassian

In related news, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $177.83, for a total transaction of $1,363,066.95. Following the sale, the director directly owned 160,965 shares in the company, valued at $28,624,405.95. The trade was a 4.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the company's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $177.83, for a total transaction of $1,363,066.95. Following the completion of the sale, the chief executive officer directly owned 160,965 shares of the company's stock, valued at approximately $28,624,405.95. This represents a 4.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 523,766 shares of company stock worth $100,295,342 in the last three months. 38.55% of the stock is owned by company insiders.

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.