JPMorgan Chase & Co. Reduces Position in Atlassian Corporation PLC $TEAM

JPMorgan Chase & Co. lowered its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 38.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 2,398,853 shares of the technology company’s stock after selling 1,514,861 shares during the period. JPMorgan Chase & Co.’s holdings in Atlassian were worth $383,103,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capco Asset Management LLC acquired a new position in shares of Atlassian in the 2nd quarter valued at $25,000. Physician Wealth Advisors Inc. grew its stake in Atlassian by 60.4% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after purchasing an additional 61 shares during the last quarter. Atlantic Union Bankshares Corp grew its stake in Atlassian by 19,900.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after purchasing an additional 199 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Atlassian by 447.2% in the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after purchasing an additional 161 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Atlassian in the third quarter worth about $57,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. BMO Capital Markets set a $130.00 price target on shares of Atlassian and gave the stock an “outperform” rating in a report on Friday, February 6th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Atlassian in a report on Friday, October 31st. Macquarie Infrastructure reduced their target price on shares of Atlassian from $250.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Wall Street Zen downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Finally, Oppenheimer cut their price target on Atlassian from $275.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, February 6th. Twenty investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $189.32.

Insider Buying and Selling

In other news, CEO Michael Cannon-Brookes sold 7,665 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $94.81, for a total transaction of $726,718.65. Following the completion of the transaction, the chief executive officer directly owned 275,940 shares of the company’s stock, valued at $26,161,871.40. This represents a 2.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction on Friday, February 6th. The shares were sold at an average price of $94.81, for a total transaction of $726,718.65. Following the completion of the sale, the director directly owned 275,940 shares in the company, valued at $26,161,871.40. This represents a 2.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 475,758 shares of company stock valued at $68,994,874 over the last 90 days. Company insiders own 36.66% of the company’s stock.

Key Atlassian News

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Atlassian named LinkedIn veteran James Chuong as its new chief financial officer, effective March 30 — a leadership move that can stabilize investor confidence and support financial strategy execution. Article Title Article Title
• Positive Sentiment: Analysts/commentators are calling TEAM “highly oversold,” prompting buy-the-dip interest from traders and value-oriented investors looking to add exposure around current levels. Article Title
• Neutral Sentiment: Coverage is reframing Atlassian after a recent “fair value reset,” which is shifting investor narratives from growth multiple expansion to selective re-valuation — this can increase volatility as market participants re-price expectations. Article Title
• Neutral Sentiment: Discussion that Atlassian’s AI transition is pressuring near-term sentiment but could support a longer-term thesis — mixed implications for trading vs. long-term holders. Article Title
• Neutral Sentiment: Broader software/AI weakness (illustrated by Palo Alto Networks’ stock reaction and cautious guidance) is keeping a lid on software multiples and could pressure peer stocks including TEAM. Article Title
• Neutral Sentiment: Other items in the newsfeed — token PR (Atlassian Williams F1 tickets) and ambiguous short-interest reporting — are unlikely to move fundamentals materially. Article Title
• Negative Sentiment: Pomerantz LLP launched an investor investigation into Atlassian, which introduces legal/ reputational risk and can increase downside pressure or volatility if it develops into formal litigation. Article Title

Atlassian Stock Up 1.8%

TEAM opened at $83.61 on Thursday. The company has a fifty day moving average of $133.10 and a two-hundred day moving average of $151.98. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.89 and a current ratio of 0.89. Atlassian Corporation PLC has a fifty-two week low of $80.40 and a fifty-two week high of $315.03. The stock has a market capitalization of $22.05 billion, a price-to-earnings ratio of -116.12, a PEG ratio of 68.57 and a beta of 0.88.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, February 5th. The technology company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Atlassian had a negative return on equity of 6.33% and a negative net margin of 3.29%.The company’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period last year, the firm earned $0.96 EPS. On average, research analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Atlassian Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.