William Blair Investment Management LLC cut its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 93.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,150 shares of the technology company's stock after selling 473,386 shares during the period. William Blair Investment Management LLC's holdings in Atlassian were worth $6,529,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Smithfield Trust Co grew its stake in shares of Atlassian by 90.7% during the first quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after acquiring an additional 78 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock valued at $42,000 after acquiring an additional 161 shares in the last quarter. First Horizon Advisors Inc. grew its stake 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 acquiring an additional 55 shares in the last quarter. State of Wyoming grew its stake in shares of Atlassian by 20.3% during the first quarter. State of Wyoming now owns 278 shares of the technology company's stock valued at $59,000 after acquiring an additional 47 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of Atlassian by 37.7% during the first quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company's stock valued at $80,000 after acquiring an additional 101 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
TEAM has been the subject of several recent analyst reports. Zacks Research downgraded Atlassian from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 7th. Mizuho lowered their target price on Atlassian from $265.00 to $235.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Bank of America assumed coverage on Atlassian in a research note on Tuesday, September 23rd. They issued a "neutral" rating and a $200.00 price target for the company. Canaccord Genuity Group decreased their price target on Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Finally, UBS Group reiterated a "hold" rating on shares of Atlassian in a research note on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $248.74.
Check Out Our Latest Stock Analysis on Atlassian
Atlassian Stock Up 4.5%
NASDAQ:TEAM opened at $158.79 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a 50-day simple moving average of $164.27 and a 200 day simple moving average of $189.94. Atlassian Corporation PLC has a one year low of $144.32 and a one year high of $326.00. The company has a market capitalization of $41.66 billion, a price-to-earnings ratio of -160.39 and a beta of 0.92.
Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.36 billion. During the same quarter last year, the company posted $0.66 earnings per share. Atlassian's revenue was up 22.3% on a year-over-year basis. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. Sell-side analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.
Insiders Place Their Bets
In other Atlassian news, Director Scott Farquhar sold 7,665 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $184.43, for a total value of $1,413,655.95. Following the transaction, the director owned 314,265 shares of the company's stock, valued at $57,959,893.95. This trade represents a 2.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $185.43, for a total transaction of $1,421,320.95. Following the completion of the transaction, the chief executive officer directly owned 306,600 shares in the company, valued at $56,852,838. This represents a 2.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 566,938 shares of company stock valued at $96,312,185 over the last quarter. Insiders own 36.66% of the company's stock.
About Atlassian
(
Free Report)
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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