Fulcrum Asset Management LLP boosted its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM – Free Report) by 19,041.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 44,982 shares of the technology company’s stock after buying an additional 44,747 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Atlassian were worth $7,915,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Arizona State Retirement System raised its stake in shares of Atlassian by 6.5% in the second quarter. Arizona State Retirement System now owns 48,629 shares of the technology company’s stock valued at $3,783,000 after acquiring an additional 2,969 shares during the period. Choreo LLC lifted its holdings in shares of Atlassian by 90.5% in the 3rd quarter. Choreo LLC now owns 7,888 shares of the technology company’s stock worth $1,414,000 after acquiring an additional 3,748 shares during the last quarter. Fluent Financial LLC bought a new position in Atlassian during the 2nd quarter valued at about $2,239,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Atlassian during the 2nd quarter valued at about $11,584,000. Finally, IFP Advisors Inc raised its position in Atlassian by 76.0% in the 2nd quarter. IFP Advisors Inc now owns 9,428 shares of the technology company’s stock worth $733,000 after purchasing an additional 4,071 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.
Insiders Place Their Bets
In other Atlassian news, CAO Gene Liu sold 1,125 shares of Atlassian stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $175.00, for a total transaction of $196,875.00. Following the completion of the sale, the chief accounting officer directly owned 56,807 shares of the company’s stock, valued at $9,941,225. The trade was a 1.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO James Chuong sold 9,054 shares of Atlassian stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total value of $1,561,362.30. Following the sale, the chief financial officer directly owned 279,218 shares of the company’s stock, valued at approximately $48,151,144.10. This trade represents a 3.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 22,475 shares of company stock worth $3,822,643 in the last ninety days. 37.63% of the stock is owned by company insiders.
More Atlassian News
Here are the key news stories impacting Atlassian this week:
- Positive Sentiment: Fiscal Q1 revenue rose 23.7% year over year to $1.77 billion, while adjusted EPS of $1.65 topped the $1.39 consensus. Cloud revenue grew 30.5%, and the company reported stronger margins and free cash flow. Atlassian Q1 results
- Positive Sentiment: AI-related adoption showed momentum: Teamwork Collection customers grew sevenfold year over year, and remaining performance obligations increased 44%. Atlassian also guided to $7.5 billion in FY2027 revenue, above the $7.4 billion consensus. Q1 earnings call highlights
- Positive Sentiment: Piper Sandler raised its price target to $190 and kept an “overweight” rating, signaling continued optimism despite the post-earnings concerns. Piper Sandler target update
- Negative Sentiment: The main concern is deceleration: Atlassian expects next-quarter cloud growth of 27%, below Q1’s 30.5%, and increased its full-year cloud growth outlook only modestly, from 25.5% to 26%. Management cited timing-related Data Center revenue effects, dampening the impact of the quarterly beat. Cloud growth outlook
- Negative Sentiment: Several firms cut price targets, including Truist ($250 to $200), Wells Fargo ($270 to $200), and Oppenheimer ($275 to $240), though they maintained positive ratings. These reductions underscore investor concerns about growth expectations after the results. Truist rating update
Analysts Set New Price Targets
Several analysts have issued reports on TEAM shares. Wells Fargo & Company decreased their price objective on shares of Atlassian from $270.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday. Bank of America boosted their target price on Atlassian from $175.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, August 31st. Cantor Fitzgerald upped their target price on Atlassian from $220.00 to $252.00 and gave the company an “overweight” rating in a research note on Monday, November 2nd. Robert W. Baird increased their price target on Atlassian from $200.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, September 28th. Finally, Barclays raised their price target on Atlassian from $172.00 to $222.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 13th. Twenty-four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $210.96.
Check Out Our Latest Stock Report on TEAM
Atlassian Stock Performance
Shares of NASDAQ:TEAM opened at $153.68 on Monday. The firm’s 50 day simple moving average is $196.05 and its 200-day simple moving average is $119.57. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.78 and a current ratio of 0.78. Atlassian Corporation PLC has a one year low of $56.01 and a one year high of $229.96. The firm has a market cap of $38.90 billion, a PE ratio of 426.90, a price-to-earnings-growth ratio of 17.13 and a beta of 1.16.
Atlassian (NASDAQ:TEAM – Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The technology company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.26. Atlassian had a return on equity of 31.64% and a net margin of 1.28%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the business earned $1.04 earnings per share. Atlassian’s quarterly revenue was up 23.7% on a year-over-year basis. As a group, equities analysts predict that Atlassian Corporation PLC will post 0.66 EPS for the current year.
Atlassian Profile
Atlassian Corporation develops collaboration and productivity software for software, IT and business teams. Its products help organizations plan and track work, manage software development and support services, and share information across teams.
Its product portfolio includes Jira for project and issue tracking, Confluence for team documentation and collaboration, Jira Service Management for IT and other service teams, Trello for visual work management, and Bitbucket for code collaboration.
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