Sciencast Management LP Acquires 5,090 Shares of Atlassian Corporation PLC $TEAM

Key Points

• Sciencast Management LP significantly increased its stake in Atlassian Corporation by 236.3%, owning 7,244 shares valued at approximately $1.54 million following the first quarter.
• Atlassian's recent quarterly earnings reported $1.38 billion in revenue, surpassing expectations and demonstrating a 22.3% year-over-year growth.
• Several analysts have adjusted Atlassian's price targets, with Citigroup reducing its target from $300 to $240, while the consensus price target remains at $256.90.

Sciencast Management LP grew its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 236.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,244 shares of the technology company's stock after buying an additional 5,090 shares during the quarter. Sciencast Management LP's holdings in Atlassian were worth $1,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings 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 purchasing an additional 580,583 shares during the period. Baillie Gifford & Co. raised its holdings in Atlassian by 7.1% in the 1st quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company's stock worth $1,845,114,000 after purchasing an additional 573,696 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Atlassian by 21.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,440,813 shares of the technology company's stock worth $730,175,000 after purchasing an additional 616,071 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in Atlassian by 6.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,972,130 shares of the technology company's stock worth $418,506,000 after purchasing an additional 124,432 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Atlassian by 145.6% in the 1st quarter. AQR Capital Management LLC now owns 1,715,287 shares of the technology company's stock worth $354,858,000 after purchasing an additional 1,016,902 shares during the period. 94.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TEAM has been the topic of a number of recent research reports. KeyCorp decreased their target price on Atlassian from $275.00 to $250.00 and set an "overweight" rating on the stock in a report on Thursday, July 17th. Stephens decreased their target price on Atlassian from $221.00 to $202.00 and set an "equal weight" rating on the stock in a report on Monday, August 11th. UBS Group reaffirmed a "hold" rating on shares of Atlassian in a report on Monday, July 7th. Barclays decreased their price target on Atlassian from $244.00 to $215.00 and set an "overweight" rating on the stock in a report on Friday, August 8th. Finally, Guggenheim started coverage on Atlassian in a report on Thursday. They set a "buy" rating and a $225.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $255.45.

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,665 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $175.76, for a total transaction of $1,347,200.40. Following the sale, the chief executive officer directly owned 99,645 shares of the company's stock, valued at $17,513,605.20. The trade was a 7.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Scott Farquhar sold 7,665 shares of the business's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $175.76, for a total value of $1,347,200.40. Following the sale, the director directly owned 99,645 shares in the company, valued at $17,513,605.20. The trade was a 7.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 536,278 shares of company stock worth $100,612,557 over the last three months. 38.55% of the stock is currently owned by insiders.

Atlassian Trading Down 1.0%

NASDAQ TEAM traded down $1.84 during trading hours on Friday, hitting $174.87. 1,384,717 shares of the company were exchanged, compared to its average volume of 2,386,446. The stock has a 50-day moving average price of $183.14 and a 200 day moving average price of $204.92. The company has a quick ratio of 1.22, a current 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. The stock has a market cap of $45.87 billion, a PE ratio of -176.63 and a beta of 0.95.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued 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 company had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same period in the previous year, the firm posted $0.66 earnings per share. The firm's revenue for the quarter was up 22.3% on a year-over-year basis. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. Analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share 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.