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Praxis Investment Management Inc. Has $331,000 Stock Position in Atlassian Corporation PLC $TEAM

Atlassian logo with Computer and Technology background

Key Points

  • Praxis Investment Management Inc. reduced its position in Atlassian Corporation by 71.6%, holding only 1,630 shares valued at $331,000 by the end of the last reporting period.
  • Atlassian reported $1.38 billion in revenue for the last quarter, exceeding expectations, and earnings per share were $0.98, surpassing the consensus estimate of $0.83.
  • Institutional and hedge funds collectively own 94.45% of Atlassian's stock, with major firms like Vanguard and AQR significantly increasing their holdings earlier this year.
  • Five stocks we like better than Atlassian.

Praxis Investment Management Inc. decreased its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 71.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,630 shares of the technology company's stock after selling 4,110 shares during the period. Praxis Investment Management Inc.'s holdings in Atlassian were worth $331,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of TEAM. Nuveen LLC acquired a new stake in Atlassian during the first quarter valued at $327,665,000. AQR Capital Management LLC boosted its position in Atlassian by 145.6% during the first quarter. AQR Capital Management LLC now owns 1,715,287 shares of the technology company's stock valued at $354,858,000 after purchasing an additional 1,016,902 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Atlassian by 21.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,440,813 shares of the technology company's stock valued at $730,175,000 after purchasing an additional 616,071 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Atlassian by 3.5% in the first quarter. Vanguard Group Inc. now owns 16,993,537 shares of the technology company's stock worth $3,606,198,000 after buying an additional 580,583 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its position in shares of Atlassian by 7.1% in the first quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company's stock worth $1,845,114,000 after buying an additional 573,696 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Price Performance

NASDAQ TEAM opened at $151.95 on Friday. Atlassian Corporation PLC has a twelve month low of $144.32 and a twelve month high of $326.00. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market capitalization of $39.86 billion, a PE ratio of -153.48 and a beta of 0.92. The stock has a 50-day simple moving average of $164.28 and a 200 day simple moving average of $190.20.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter in the previous year, the firm 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. Research analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TEAM. BMO Capital Markets reduced their price target on Atlassian from $225.00 to $200.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Truist Financial set a $230.00 price target on Atlassian in a research report on Friday, August 8th. Bank of America began coverage on Atlassian in a research report on Tuesday, September 23rd. They issued a "neutral" rating and a $200.00 price target for the company. Wells Fargo & Company began coverage on Atlassian in a research report on Tuesday, September 30th. They issued an "overweight" rating and a $216.00 price target for the company. Finally, Canaccord Genuity Group reduced their price target on Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $248.74.

Check Out Our Latest Analysis on TEAM

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,665 shares of the company's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $184.43, for a total value of $1,413,655.95. Following the completion of the transaction, the chief executive officer owned 314,265 shares of the company's stock, valued at $57,959,893.95. This represents a 2.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Scott Farquhar sold 7,665 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $197.88, for a total value of $1,516,750.20. Following the completion of the transaction, the director directly owned 329,595 shares of the company's stock, valued at approximately $65,220,258.60. This trade represents a 2.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 551,608 shares of company stock valued at $94,572,077 in the last quarter. Corporate insiders own 38.55% of the company's stock.

About Atlassian

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding TEAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atlassian Corporation PLC (NASDAQ:TEAM - Free Report).

Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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