Atlassian Corporation PLC $TEAM Shares Acquired by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Atlassian Corporation PLC by 6.7%, owning 1,972,130 shares valued at approximately $418.51 million.
• Atlassian reported earnings per share (EPS) of $0.98 for the last quarter, beating expectations and marking a 22.3% year-over-year revenue increase.
• Institutional investors hold 94.45% of Atlassian's stock, indicating strong institutional support amidst varying price targets from analysts.

T. Rowe Price Investment Management Inc. grew its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 6.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,972,130 shares of the technology company's stock after purchasing an additional 124,432 shares during the period. T. Rowe Price Investment Management Inc. owned 0.75% of Atlassian worth $418,506,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Mariner LLC raised its holdings in shares of Atlassian by 19.4% in the 4th quarter. Mariner LLC now owns 10,036 shares of the technology company's stock worth $2,443,000 after purchasing an additional 1,634 shares during the period. NewEdge Advisors LLC lifted its position in Atlassian by 41.2% during the fourth quarter. NewEdge Advisors LLC now owns 3,165 shares of the technology company's stock valued at $770,000 after buying an additional 924 shares in the last quarter. Commerce Bank grew its stake in Atlassian by 3.0% during the fourth quarter. Commerce Bank now owns 5,113 shares of the technology company's stock worth $1,244,000 after buying an additional 147 shares during the period. GeoWealth Management LLC grew its stake in Atlassian by 26.8% during the fourth quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock worth $44,000 after buying an additional 38 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Atlassian by 3.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 157,752 shares of the technology company's stock worth $38,398,000 after acquiring an additional 5,878 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TEAM has been the subject of a number of research reports. Wall Street Zen raised shares of Atlassian from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. Cantor Fitzgerald dropped their price objective on shares of Atlassian from $256.00 to $240.00 and set an "overweight" rating on the stock in a research note on Friday, August 8th. Truist Financial set a $230.00 price objective on shares of Atlassian in a research note on Friday, August 8th. Canaccord Genuity Group dropped their price objective on shares of Atlassian from $255.00 to $230.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Finally, Macquarie dropped their price objective on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Atlassian presently has a consensus rating of "Moderate Buy" and an average price target of $256.90.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 7,665 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $166.30, for a total transaction of $1,274,689.50. Following the completion of the transaction, the chief executive officer owned 206,955 shares of the company's stock, valued at approximately $34,416,616.50. The trade was a 3.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Scott Farquhar sold 7,665 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $166.30, for a total transaction of $1,274,689.50. Following the transaction, the director directly owned 206,955 shares of the company's stock, valued at approximately $34,416,616.50. This trade represents a 3.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 510,134 shares of company stock valued at $99,681,446 over the last quarter. 38.55% of the stock is owned by company insiders.

Atlassian Stock Performance

TEAM stock traded up $6.20 during trading on Friday, hitting $170.79. 1,724,901 shares of the company's stock traded hands, compared to its average volume of 2,876,878. The company has a quick ratio of 1.26, 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 fifty day moving average price of $190.67 and a two-hundred day moving average price of $218.11. The stock has a market capitalization of $44.83 billion, a price-to-earnings ratio of -172.51 and a beta of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last released 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. Atlassian had a negative net margin of 4.92% and a negative return on equity of 14.77%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. The firm's revenue for the quarter 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. As a group, equities analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Atlassian 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.