Woodline Partners LP Trims Stake in Atlassian Corporation PLC $TEAM

Key Points

• Woodline Partners LP reduced its holdings in Atlassian Corporation PLC by 9.2%, selling 14,085 shares, leaving them with approximately $29.58 million worth of stock.
• Atlassian reported strong quarterly earnings, with earnings per share of $0.98, surpassing analysts’ expectations, and a revenue increase of 22.3% year-over-year.
• As of the latest updates, 94.45% of Atlassian's stock is owned by institutional investors, indicating strong institutional interest in the company.

Woodline Partners LP lowered its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 9.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 139,379 shares of the technology company's stock after selling 14,085 shares during the period. Woodline Partners LP owned about 0.05% of Atlassian worth $29,578,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Clean Yield Group increased its position in shares of Atlassian by 372.0% during the first 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 increased its position in Atlassian by 90.7% in the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after acquiring an additional 78 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in Atlassian by 82.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company's stock valued at $52,000 after acquiring an additional 110 shares during the period. First Horizon Advisors Inc. increased its position in Atlassian by 25.9% in the 1st 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 during the period. Finally, State of Wyoming increased its position in Atlassian by 20.3% in the 1st quarter. State of Wyoming now owns 278 shares of the technology company's stock valued at $59,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 94.45% of the company's stock.

Insider Activity at Atlassian

In related news, CEO Michael Cannon-Brookes sold 7,665 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $175.76, for a total value of $1,347,200.40. Following the sale, the chief executive officer owned 99,645 shares of the company's stock, valued at approximately $17,513,605.20. This represents a 7.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,665 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $175.76, for a total value of $1,347,200.40. Following the completion of the sale, the director directly owned 99,645 shares in the company, valued at approximately $17,513,605.20. The trade was a 7.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 536,278 shares of company stock worth $100,612,557 in the last three months. Corporate insiders own 38.55% of the company's stock.

Atlassian Price Performance

Shares of NASDAQ:TEAM traded down $1.84 during trading on Friday, hitting $174.87. 1,384,717 shares of the stock were exchanged, compared to its average volume of 2,159,024. The company has a fifty day moving average price of $182.36 and a two-hundred day moving average price of $204.16. The company has a market cap of $45.87 billion, a PE ratio of -176.63 and a beta of 0.95. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73. Atlassian Corporation PLC has a 12-month low of $154.07 and a 12-month high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.83 by $0.15. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.66 EPS. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. On average, analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TEAM. KeyCorp lowered their price objective on Atlassian from $275.00 to $250.00 and set an "overweight" rating on the stock in a report on Thursday, July 17th. BMO Capital Markets lowered their price objective on Atlassian from $225.00 to $200.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Canaccord Genuity Group lowered their price objective on Atlassian from $255.00 to $230.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Guggenheim began coverage on Atlassian in a report on Thursday. They issued a "buy" rating and a $225.00 price objective on the stock. Finally, Zacks Research raised Atlassian from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 20th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Atlassian currently has an average rating of "Moderate Buy" and an average target price of $255.45.

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.