Parnassus Investments LLC Sells 8,208 Shares of Atlassian Corporation PLC $TEAM

Parnassus Investments LLC lessened its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 2.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 295,909 shares of the technology company’s stock after selling 8,208 shares during the period. Parnassus Investments LLC’s holdings in Atlassian were worth $47,257,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. NewEdge Advisors LLC lifted its stake in shares of Atlassian by 71.6% during the 1st quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company’s stock worth $1,153,000 after acquiring an additional 2,267 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its position in shares of Atlassian by 5.5% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 1,412 shares of the technology company’s stock worth $300,000 after purchasing an additional 74 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of Atlassian in the 1st quarter valued at approximately $542,000. Ascent Group LLC purchased a new stake in shares of Atlassian during the first quarter valued at $200,000. Finally, Empowered Funds LLC raised its holdings in Atlassian by 39.5% in the 1st quarter. Empowered Funds LLC now owns 4,689 shares of the technology company’s stock worth $995,000 after purchasing an additional 1,328 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Citigroup reiterated a “buy” rating on shares of Atlassian in a research note on Wednesday, October 22nd. Robert W. Baird set a $230.00 price objective on shares of Atlassian in a research report on Friday, October 31st. Sanford C. Bernstein increased their price objective on shares of Atlassian from $290.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, November 18th. TD Cowen cut their price objective on Atlassian from $220.00 to $205.00 and set a “hold” rating on the stock in a research report on Monday, October 27th. Finally, Mizuho upped their price target on Atlassian from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and an average price target of $238.46.

Atlassian Stock Performance

TEAM opened at $146.42 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $38.52 billion, a price-to-earnings ratio of -206.22, a price-to-earnings-growth ratio of 23.14 and a beta of 0.88. Atlassian Corporation PLC has a 1-year low of $139.70 and a 1-year high of $326.00. The business has a 50 day moving average price of $156.91 and a two-hundred day moving average price of $169.52.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.21. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the firm posted $0.77 EPS. The firm’s revenue for the quarter was up 20.6% on a year-over-year basis. Research analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Atlassian News Summary

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Williams F1 partnership raises Atlassian’s brand visibility and could help enterprise marketing and sponsorship reach over time. Read More.
• Neutral Sentiment: Analysts are reassessing TEAM’s valuation following the Dashmoto/Williams F1 collaboration — discussion focuses on branding upside vs. limited near‑term revenue impact. Read More.
• Neutral Sentiment: Market roundup pieces place Atlassian among several software names falling today, suggesting sector rotation and macro/earnings positioning (not just company‑specific news) are contributing to the selloff. Read More.
• Negative Sentiment: Co‑founders/insiders sold sizable, identical blocks on Jan. 7 (7,665 shares each at ~$161.11): CEO Michael Cannon‑Brookes’ sale is publicly filed and can weigh on sentiment when executed by top management. Read More.
• Negative Sentiment: Director/co‑founder Scott Farquhar also sold 7,665 shares on Jan. 7 (and has repeatedly sold blocks in recent weeks), amplifying investor concern about insider timing and signaling near‑term liquidity taking. Read More.
• Negative Sentiment: Media commentators (including Jim Cramer) have flagged Atlassian as “in the crosshairs,” which can accelerate headline‑driven selling and short‑term momentum pressure. Read More.
• Negative Sentiment: Wider negative context: recent coverage highlights investors are down roughly one‑third over the past year, reinforcing bearish sentiment that may amplify outflows. Read More.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $164.50, for a total transaction of $1,260,892.50. Following the sale, the chief executive officer directly owned 352,590 shares in the company, valued at $58,001,055. This represents a 2.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 9,847 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $152.46, for a total value of $1,501,273.62. Following the transaction, the president directly owned 242,092 shares in the company, valued at approximately $36,909,346.32. This trade represents a 3.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 566,379 shares of company stock valued at $89,263,574. Insiders own 36.66% of the company’s stock.

Atlassian Company 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.