Royal Bank of Canada Cuts Stake in Atlassian Corporation PLC $TEAM

Key Points

• Royal Bank of Canada reduced its stake in Atlassian Corporation PLC by 11.8%, selling 54,465 shares and holding approximately 408,406 shares worth $86.67 million.
• Several institutional investors increased their positions in Atlassian, with Clean Yield Group raising its holdings by 372% during the same quarter.
• Atlassian's recent quarterly earnings report showed a 22.3% revenue increase year-over-year, surpassing analysts' expectations with a reported revenue of $1.38 billion.

Royal Bank of Canada lowered its stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 11.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 408,406 shares of the technology company's stock after selling 54,465 shares during the quarter. Royal Bank of Canada owned about 0.16% of Atlassian worth $86,670,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of TEAM. Nuveen LLC bought a new position in Atlassian during the first quarter valued at $327,665,000. Durable Capital Partners LP grew its holdings in Atlassian by 499.7% during the 4th quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company's stock valued at $383,456,000 after purchasing an additional 1,312,820 shares during the last quarter. Whale Rock Capital Management LLC bought a new position in Atlassian during the 4th quarter valued at about $170,943,000. Massachusetts Financial Services Co. MA grew its holdings in Atlassian by 21.8% during the 1st 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. Finally, Vanguard Group Inc. grew its stake in Atlassian by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 16,993,537 shares of the technology company's stock worth $3,606,198,000 after acquiring an additional 580,583 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TEAM. Stephens lowered their price target on shares of Atlassian from $221.00 to $202.00 and set an "equal weight" rating for the company in a research report on Monday, August 11th. BMO Capital Markets decreased their price target on shares of Atlassian from $225.00 to $200.00 and set an "outperform" rating for the company in a report on Friday, August 8th. Zacks Research raised shares of Atlassian from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 20th. UBS Group reiterated a "hold" rating on shares of Atlassian in a research note on Monday, July 7th. Finally, Raymond James Financial decreased their target price on shares of Atlassian from $300.00 to $250.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. One investment 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $256.90.

Insider Buying and Selling at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,665 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $192.68, for a total value of $1,476,892.20. Following the sale, the chief executive officer directly owned 38,325 shares of the company's stock, valued at approximately $7,384,461. The trade was a 16.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Scott Farquhar sold 7,665 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $192.44, for a total transaction of $1,475,052.60. Following the completion of the sale, the director directly owned 45,990 shares in the company, valued at $8,850,315.60. This trade represents a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 520,948 shares of company stock worth $99,011,032 in the last ninety days. 38.55% of the stock is owned by insiders.

Atlassian Price Performance

NASDAQ:TEAM traded up $4.35 on Friday, hitting $172.43. The stock had a trading volume of 2,352,239 shares, compared to its average volume of 2,861,181. 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 company has a fifty day moving average price of $185.63 and a two-hundred day moving average price of $207.47. 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 posted its earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.15. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. Atlassian had a negative net margin of 4.92% and a negative return on equity of 14.77%. Atlassian's revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 EPS. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, equities research analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current 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.