Fortis Capital Advisors LLC Reduces Stake in Atlassian Corporation PLC $TEAM

Fortis Capital Advisors LLC lessened its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 76.1% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,029 shares of the technology company’s stock after selling 3,277 shares during the quarter. Fortis Capital Advisors LLC’s holdings in Atlassian were worth $209,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. State of Wyoming raised its holdings in shares of Atlassian by 20.3% in the first quarter. State of Wyoming now owns 278 shares of the technology company’s stock worth $59,000 after buying an additional 47 shares during the period. First Citizens Bank & Trust Co. raised its holdings in shares of Atlassian by 4.7% in the first quarter. First Citizens Bank & Trust Co. now owns 1,192 shares of the technology company’s stock worth $253,000 after buying an additional 54 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Atlassian by 25.9% in the first 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. Yousif Capital Management LLC raised its holdings in shares of Atlassian by 2.9% in the first quarter. Yousif Capital Management LLC now owns 2,063 shares of the technology company’s stock worth $438,000 after buying an additional 58 shares during the period. Finally, Johnson Investment Counsel Inc. raised its holdings in shares of Atlassian by 6.5% in the first quarter. Johnson Investment Counsel Inc. now owns 978 shares of the technology company’s stock worth $208,000 after buying an additional 60 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Atlassian

In related news, Director Scott Belsky purchased 1,566 shares of Atlassian stock in a transaction that occurred on Wednesday, October 1st. The stock was purchased at an average cost of $153.10 per share, with a total value of $239,754.60. Following the completion of the transaction, the director directly owned 3,021 shares in the company, valued at approximately $462,515.10. The trade was a 107.63% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $152.50, for a total transaction of $1,168,912.50. Following the completion of the sale, the chief executive officer directly owned 482,895 shares of the company’s stock, valued at approximately $73,641,487.50. This trade represents a 1.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 551,608 shares of company stock valued at $99,222,126. Insiders own 38.55% of the company’s stock.

Atlassian Trading Down 0.4%

TEAM stock opened at $150.49 on Friday. The firm has a market cap of $39.48 billion, a P/E ratio of -152.01 and a beta of 0.92. Atlassian Corporation PLC has a 52-week low of $147.40 and a 52-week high of $326.00. The company’s 50-day simple moving average is $171.67 and its 200-day simple moving average is $195.39. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.73.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.15. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. Atlassian had a negative net margin of 4.92% and a negative return on equity of 14.77%. Atlassian’s quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.66 EPS. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, equities analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several recent analyst reports. Barclays reduced their price target on Atlassian from $244.00 to $215.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Atlassian in a report on Saturday, September 27th. Raymond James Financial lowered their price target on Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, August 8th. UBS Group reiterated a “hold” rating on shares of Atlassian in a report on Monday, July 7th. Finally, Cantor Fitzgerald lowered their price target on Atlassian from $256.00 to $240.00 and set an “overweight” rating for the company in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $248.74.

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.