Atlassian Corporation PLC $TEAM Position Boosted by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC increased its stake in Atlassian Corporation PLC by 24.1%, acquiring 523,035 shares during the first quarter, bringing its total holdings to approximately $571.9 million.
• Atlassian reported a 22.3% increase in revenue year-over-year, with earnings per share of $0.98 for the last quarter, surpassing analysts' expectations.
• Several analysts have downgraded their target prices for Atlassian shares, with the average price target now at $255.45 and a consensus rating of "Moderate Buy".

Voya Investment Management LLC boosted its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 24.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,695,889 shares of the technology company's stock after acquiring an additional 523,035 shares during the quarter. Atlassian comprises 0.6% of Voya Investment Management LLC's investment portfolio, making the stock its 21st biggest holding. Voya Investment Management LLC owned 1.03% of Atlassian worth $571,894,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 1248 Management LLC acquired a new position in Atlassian in the 1st quarter valued at $413,000. First Hawaiian Bank acquired a new position in shares of Atlassian during the 1st quarter worth $292,000. Strs Ohio acquired a new position in Atlassian during the first quarter worth about $21,914,000. Diker Management LLC purchased a new stake in shares of Atlassian during the 1st quarter worth approximately $849,000. Finally, Acadian Asset Management LLC grew its holdings in shares of Atlassian by 68.9% in the 1st quarter. Acadian Asset Management LLC now owns 951,429 shares of the technology company's stock worth $201,875,000 after acquiring an additional 388,196 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Michael Cannon-Brookes sold 7,665 shares of the company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $203.66, for a total transaction of $1,561,053.90. Following the completion of the transaction, the chief executive officer directly owned 7,665 shares of the company's stock, valued at approximately $1,561,053.90. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 7,728 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $163.43, for a total value of $1,262,987.04. Following the completion of the sale, the president directly owned 182,801 shares in the company, valued at approximately $29,875,167.43. This trade represents a 4.06% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 520,948 shares of company stock worth $97,536,133. Corporate insiders own 38.55% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Oppenheimer reduced their price objective on Atlassian from $300.00 to $275.00 and set an "outperform" rating for the company in a report on Monday, July 21st. Cantor Fitzgerald dropped their price target on Atlassian from $256.00 to $240.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Zacks Research raised Atlassian from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 20th. Canaccord Genuity Group lowered 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, Raymond James Financial dropped their target price on shares of Atlassian from $300.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $255.45.

Atlassian Trading Down 0.6%

Shares of Atlassian stock traded down $1.00 during trading hours on Monday, reaching $173.87. The stock had a trading volume of 2,032,528 shares, compared to its average volume of 2,091,133. The firm has a 50 day simple moving average of $181.52 and a two-hundred day simple moving average of $202.28. Atlassian Corporation PLC has a 1 year low of $154.07 and a 1 year 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.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. The firm's quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. On average, analysts expect 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.