Wellington Management Group LLP Buys 410,530 Shares of Atlassian Corporation PLC $TEAM

Key Points

• Wellington Management Group LLP increased its stake in Atlassian Corporation by 87.4%, now owning approximately 880,406 shares worth $186.8 million.
• Recent analyst reports have resulted in price target adjustments, with Capital One downgrading to an “equal weight” rating and setting a target of $211.00, while others adjusted targets to between $230.00 and $275.00.
• Insider trading activity includes significant sales by Director Scott Farquhar and CEO Michael Cannon-Brookes, each selling 7,948 shares at around $208.43, decreasing their positions by 25%.

Wellington Management Group LLP grew its stake in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 87.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 880,406 shares of the technology company's stock after purchasing an additional 410,530 shares during the quarter. Wellington Management Group LLP owned approximately 0.34% of Atlassian worth $186,831,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. GeoWealth Management LLC raised its position in Atlassian by 26.8% in the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock valued at $44,000 after buying an additional 38 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Atlassian by 21.6% in the 4th quarter. True Wealth Design LLC now owns 282 shares of the technology company's stock worth $69,000 after acquiring an additional 50 shares in the last quarter. Covenant Partners LLC raised its holdings in shares of Atlassian by 4.2% in the fourth quarter. Covenant Partners LLC now owns 1,328 shares of the technology company's stock valued at $323,000 after purchasing an additional 53 shares during the last quarter. First Citizens Bank & Trust Co. lifted its position in shares of Atlassian by 4.7% during the first quarter. First Citizens Bank & Trust Co. now owns 1,192 shares of the technology company's stock valued at $253,000 after purchasing an additional 54 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of Atlassian by 25.9% during the first quarter. First Horizon Advisors Inc. now owns 267 shares of the technology company's stock valued at $57,000 after purchasing an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Analysts Set New Price Targets

TEAM has been the subject of a number of recent analyst reports. Capital One Financial downgraded shares of Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price objective for the company. in a research report on Wednesday, July 16th. Oppenheimer reduced their target price on Atlassian from $300.00 to $275.00 and set an "outperform" rating for the company in a report on Monday, July 21st. Mizuho dropped their price target on Atlassian from $265.00 to $235.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. UBS Group restated a "hold" rating on shares of Atlassian in a research note on Monday, July 7th. Finally, Canaccord Genuity Group decreased their target price on Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, August 8th. One 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $256.90.

Insider Activity

In related news, Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction that occurred on 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 transaction, the director directly owned 23,844 shares of the company's stock, valued at approximately $4,969,804.92. This trade represents a 25.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business's stock in a transaction on 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 sale, the chief executive officer directly owned 23,844 shares in the company, valued at $4,969,804.92. The trade was a 25.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 510,700 shares of company stock valued at $100,415,703 in the last quarter. Corporate insiders own 38.55% of the company's stock.

Atlassian Stock Performance

NASDAQ:TEAM opened at $166.55 on Thursday. The company has a market capitalization of $43.72 billion, a P/E ratio of -168.23 and a beta of 0.96. The business has a fifty day simple moving average of $191.89 and a two-hundred day simple moving average of $220.13. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.26. 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 quarterly earnings results 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 during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the company earned $0.66 EPS. The firm's quarterly revenue 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. On average, analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

About Atlassian

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.

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