Truist Financial Corp Cuts Position in Atlassian Corporation PLC $TEAM

Truist Financial Corp lowered its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 24.6% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 21,009 shares of the technology company’s stock after selling 6,850 shares during the quarter. Truist Financial Corp’s holdings in Atlassian were worth $3,355,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TEAM. Norges Bank purchased a new stake in Atlassian during the second quarter worth approximately $377,794,000. Artisan Partners Limited Partnership lifted its holdings in shares of Atlassian by 66.3% during the 2nd quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company’s stock valued at $787,610,000 after acquiring an additional 1,545,546 shares in the last quarter. Swedbank AB lifted its holdings in shares of Atlassian by 139.6% during the 3rd quarter. Swedbank AB now owns 1,372,976 shares of the technology company’s stock valued at $219,264,000 after acquiring an additional 800,000 shares in the last quarter. DNB Asset Management AS boosted its position in Atlassian by 2,676.8% during the 2nd quarter. DNB Asset Management AS now owns 765,678 shares of the technology company’s stock worth $155,502,000 after purchasing an additional 738,104 shares during the period. Finally, Marshall Wace LLP increased its holdings in Atlassian by 203.3% in the 2nd quarter. Marshall Wace LLP now owns 870,867 shares of the technology company’s stock valued at $176,864,000 after purchasing an additional 583,697 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Key Headlines Impacting Atlassian

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Q2 results beat consensus — EPS $1.22 vs $1.12 est. and revenue $1.59B (up 23% YoY), showing healthy top-line momentum. Article Title
• Positive Sentiment: Management raised FY‑2026 revenue outlook (now ~$6.4B) and issued Q3 revenue guidance (~$1.7B), signaling confidence in enterprise demand and AI-driven spending. Article Title
• Positive Sentiment: Company reports record cloud revenue and emphasizes AI integration and enterprise expansion, targeting 20%+ annual revenue growth through FY27 — a multi-year growth plan investors can model. Article Title
• Neutral Sentiment: Management commentary and the full earnings-call transcript provide detail on AI product roadmap and enterprise wins — useful for longer-term thesis but not an immediate sentiment swing. Article Title
• Negative Sentiment: Market flagged deceleration in cloud growth expectations despite the beat, a key near-term risk for valuation multiples and analyst models. Article Title
• Negative Sentiment: Analysts trimmed price targets (Cantor Fitzgerald and BMO among them), reflecting heightened uncertainty on AI monetization and growth pacing. Article Title
• Negative Sentiment: Insider selling disclosed: co‑founders sold shares (~7,665 shares each), which amplified downward pressure amid an already cautious tape. Article Title
• Negative Sentiment: Wider software sector weakness and renewed AI-related fears pressured cloud/software multiples today, dragging TEAM along with peers. Article Title

Atlassian Trading Down 6.3%

TEAM opened at $98.41 on Friday. The stock has a market capitalization of $25.89 billion, a PE ratio of -138.60, a P/E/G ratio of 16.27 and a beta of 0.88. The firm’s fifty day moving average price is $145.60 and its 200 day moving average price is $159.15. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. Atlassian Corporation PLC has a 12-month low of $97.93 and a 12-month high of $326.00.

Insider Activity

In other Atlassian news, Director Scott Farquhar sold 7,665 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $105.14, for a total transaction of $805,898.10. Following the transaction, the director owned 291,270 shares of the company’s stock, valued at $30,624,127.80. This trade represents a 2.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $105.14, for a total value of $805,898.10. Following the completion of the transaction, the chief executive officer owned 291,270 shares of the company’s stock, valued at approximately $30,624,127.80. The trade was a 2.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 551,049 shares of company stock valued at $81,277,257. 36.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. BTIG Research restated a “buy” rating and set a $220.00 price objective on shares of Atlassian in a research note on Tuesday, January 13th. Zacks Research upgraded Atlassian from a “strong sell” rating to a “hold” rating in a report on Monday, November 3rd. Cantor Fitzgerald decreased their price target on Atlassian from $240.00 to $146.00 and set an “overweight” rating for the company in a report on Wednesday. UBS Group reaffirmed a “neutral” rating on shares of Atlassian in a research report on Friday. Finally, Piper Sandler reissued an “overweight” rating on shares of Atlassian in a research report on Tuesday, January 13th. Twenty analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $219.44.

About Atlassian

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.