NorthRock Partners LLC Invests $284,000 in Atlassian Corporation PLC $TEAM

NorthRock Partners LLC acquired a new position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,399 shares of the technology company’s stock, valued at approximately $284,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Smithfield Trust Co increased its position in Atlassian by 90.7% during the first quarter. Smithfield Trust Co now owns 164 shares of the technology company’s stock worth $34,000 after purchasing an additional 78 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after purchasing an additional 161 shares during the last quarter. First Horizon Advisors Inc. increased its position in Atlassian by 25.9% during the first quarter. First Horizon Advisors Inc. now owns 267 shares of the technology company’s stock worth $57,000 after purchasing an additional 55 shares during the last quarter. State of Wyoming increased its position in Atlassian by 20.3% during the first quarter. State of Wyoming now owns 278 shares of the technology company’s stock worth $59,000 after purchasing an additional 47 shares during the last quarter. Finally, Banque Transatlantique SA acquired a new stake in Atlassian during the first quarter worth about $77,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Scott Farquhar sold 7,665 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $197.88, for a total value of $1,516,750.20. Following the completion of the transaction, the director owned 329,595 shares of the company’s stock, valued at approximately $65,220,258.60. This trade represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $184.43, for a total transaction of $1,413,655.95. Following the completion of the transaction, the chief executive officer directly owned 314,265 shares of the company’s stock, valued at approximately $57,959,893.95. The trade was a 2.38% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 551,608 shares of company stock valued at $94,572,077. 38.55% of the stock is currently owned by company insiders.

Atlassian Trading Up 0.2%

NASDAQ TEAM opened at $150.13 on Friday. The firm has a 50 day simple moving average of $164.60 and a 200-day simple moving average of $190.88. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.22 and a current ratio of 1.22. Atlassian Corporation PLC has a one year low of $144.32 and a one year high of $326.00. The firm has a market cap of $39.38 billion, a price-to-earnings ratio of -151.64 and a beta of 0.92.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the firm posted $0.66 earnings per share. The business’s revenue for the quarter 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. Equities research analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Analyst Ratings Changes

TEAM has been the subject of several recent analyst reports. KeyCorp cut their price objective on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Thursday, July 17th. Zacks Research cut shares of Atlassian from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 7th. Canaccord Genuity Group dropped their price target on shares of Atlassian from $255.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Raymond James Financial dropped their price target on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, August 8th. Finally, UBS Group reiterated a “hold” rating on shares of Atlassian in a research report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price 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.