State of New Jersey Common Pension Fund D Has $11.57 Million Position in Atlassian Corporation PLC $TEAM

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Atlassian Corporation PLC by 7.4%, holding 54,528 shares valued at approximately $11.57 million after selling 4,357 shares.
• Multiple analysts have recently adjusted their price targets for Atlassian, with a consensus rating of "Moderate Buy" and an average target price of $259.76.
• Significant insider trading occurred as both the CEO and a director sold 7,948 shares each, indicating a total stock sale worth over $3 million in the recent months.

State of New Jersey Common Pension Fund D trimmed its position in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 7.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,528 shares of the technology company's stock after selling 4,357 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Atlassian were worth $11,571,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its holdings in shares of Atlassian by 37.7% during the 1st quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company's stock worth $80,000 after buying an additional 101 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Atlassian by 42.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,240 shares of the technology company's stock worth $900,000 after buying an additional 1,259 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Atlassian by 350.1% in the 1st quarter. Principal Financial Group Inc. now owns 51,900 shares of the technology company's stock valued at $11,014,000 after acquiring an additional 40,369 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Atlassian by 47,387.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,799 shares of the technology company's stock valued at $822,000 after acquiring an additional 3,791 shares in the last quarter. Finally, Amalgamated Bank grew its position in Atlassian by 6.1% during the 1st quarter. Amalgamated Bank now owns 11,360 shares of the technology company's stock worth $2,411,000 after acquiring an additional 650 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Atlassian Trading Up 0.2%

Shares of TEAM stock traded up $0.34 during mid-day trading on Wednesday, hitting $166.55. The company's stock had a trading volume of 1,730,075 shares, compared to its average volume of 2,398,931. The company has a market cap of $43.72 billion, a PE ratio of -168.23 and a beta of 0.96. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.26 and a current ratio of 1.22. The company's fifty day simple moving average is $192.59 and its 200-day simple moving average is $220.50. 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 released its earnings results on Thursday, August 7th. The technology company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.83 by $0.15. The business had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.36 billion. Atlassian had a negative return on equity of 14.77% and a negative net margin of 4.92%.The firm's revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 earnings per share. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, equities research analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Scott Farquhar sold 7,948 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $208.43, for a total transaction of $1,656,601.64. Following the transaction, the director owned 23,844 shares of the company's stock, valued at $4,969,804.92. This represents a 25.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $208.43, for a total value of $1,656,601.64. Following the completion of the sale, the chief executive officer directly owned 23,844 shares of the company's stock, valued at $4,969,804.92. The trade was a 25.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 510,700 shares of company stock worth $100,415,703 in the last quarter. 38.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Raymond James Financial cut their price target on Atlassian from $300.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Wells Fargo & Company cut their target price on shares of Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. KeyCorp reduced their target price on shares of Atlassian from $275.00 to $250.00 and set an "overweight" rating on the stock in a report on Thursday, July 17th. Cantor Fitzgerald dropped their price target on shares of Atlassian from $256.00 to $240.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Finally, Wall Street Zen raised shares of Atlassian from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $256.90.

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.