Western Financial Corp CA Reduces Stake in Atlassian Corporation PLC $TEAM

Key Points

• Western Financial Corp CA reduced its stake in Atlassian Corporation PLC by 52.9%, holding only 3,021 shares worth $614,000 as of their latest filing.
• Recent analyst evaluations show a consensus rating of "Moderate Buy" for Atlassian stocks, with an average price target of $253.04.
• Atlassian's quarterly earnings exceeded expectations, reporting $0.98 EPS and $1.38 billion in revenue, marking a 22.3% year-over-year increase.

Western Financial Corp CA lowered its position in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 52.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,021 shares of the technology company's stock after selling 3,398 shares during the period. Western Financial Corp CA's holdings in Atlassian were worth $614,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Clean Yield Group boosted its position in Atlassian by 372.0% in the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after purchasing an additional 93 shares in the last quarter. Smithfield Trust Co raised its stake in shares of Atlassian by 90.7% during the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock worth $34,000 after buying an additional 78 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock worth $42,000 after buying an additional 161 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in shares of Atlassian by 82.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company's stock worth $52,000 after buying an additional 110 shares during the period. Finally, First Horizon Advisors Inc. raised its stake in shares of Atlassian by 25.9% during the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the technology company's stock worth $57,000 after buying an additional 55 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TEAM shares. Guggenheim began coverage on Atlassian in a research note on Thursday, September 11th. They set a "buy" rating and a $225.00 target price for the company. Stephens reduced their price objective on Atlassian from $221.00 to $202.00 and set an "equal weight" rating for the company in a research note on Monday, August 11th. Bank of America began coverage on Atlassian in a research note on Tuesday. They issued a "neutral" rating and a $200.00 price objective for the company. Barclays reduced their price objective on Atlassian from $244.00 to $215.00 and set an "overweight" rating for the company in a research note on Friday, August 8th. Finally, Canaccord Genuity Group reduced their price objective on Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Atlassian has a consensus rating of "Moderate Buy" and an average price target of $253.04.

Atlassian Stock Up 2.6%

Shares of NASDAQ:TEAM opened at $166.65 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. The business has a fifty day moving average of $176.11 and a two-hundred day moving average of $197.82. The stock has a market cap of $43.72 billion, a P/E ratio of -168.33 and a beta of 0.95. Atlassian Corporation PLC has a 52-week low of $155.37 and a 52-week high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates 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 company's revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.66 EPS. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. On average, research analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Insider Transactions at Atlassian

In other news, President Anutthara Bharadwaj sold 7,728 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $163.43, for a total transaction of $1,262,987.04. Following the completion of the transaction, the president directly owned 182,801 shares in the company, valued at approximately $29,875,167.43. This represents a 4.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $192.06, for a total value of $1,472,139.90. Following the transaction, the chief executive officer owned 421,575 shares of the company's stock, valued at approximately $80,967,694.50. This represents a 1.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 536,278 shares of company stock worth $98,195,169. 38.55% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.