ProShare Advisors LLC Has $28.79 Million Stock Position in Atlassian Corporation PLC $TEAM

ProShare Advisors LLC cut its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 19.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 180,255 shares of the technology company’s stock after selling 44,878 shares during the period. ProShare Advisors LLC’s holdings in Atlassian were worth $28,787,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of TEAM. NewEdge Advisors LLC boosted its holdings in Atlassian by 71.6% in the 1st quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company’s stock valued at $1,153,000 after purchasing an additional 2,267 shares during the period. Empowered Funds LLC raised its position in shares of Atlassian by 39.5% in the first quarter. Empowered Funds LLC now owns 4,689 shares of the technology company’s stock valued at $995,000 after buying an additional 1,328 shares in the last quarter. Focus Partners Wealth raised its position in shares of Atlassian by 32.6% in the first quarter. Focus Partners Wealth now owns 4,122 shares of the technology company’s stock valued at $875,000 after buying an additional 1,014 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake 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 buying an additional 161 shares during the period. Finally, Sivia Capital Partners LLC grew its position in Atlassian by 27.5% during the second quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company’s stock worth $380,000 after buying an additional 404 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Stock Performance

NASDAQ:TEAM opened at $92.92 on Wednesday. Atlassian Corporation PLC has a twelve month low of $88.51 and a twelve month high of $324.16. The company has a quick ratio of 1.26, a current ratio of 0.89 and a debt-to-equity ratio of 0.62. The stock’s 50-day simple moving average is $142.07 and its 200 day simple moving average is $156.33. The firm has a market capitalization of $24.45 billion, a PE ratio of -129.05, a price-to-earnings-growth ratio of 15.52 and a beta of 0.88.

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

Analysts Set New Price Targets

Several brokerages have weighed in on TEAM. Mizuho dropped their price objective on Atlassian from $225.00 to $205.00 and set an “outperform” rating for the company in a report on Friday, February 6th. Morgan Stanley decreased their price target on Atlassian from $320.00 to $290.00 and set an “overweight” rating on the stock in a research report on Friday, February 6th. BTIG Research dropped their price target on Atlassian from $220.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Canaccord Genuity Group set a $185.00 price objective on shares of Atlassian in a research report on Friday. Finally, UBS Group reiterated a “neutral” rating and set a $105.00 price objective on shares of Atlassian in a research note on Friday. Twenty investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $189.32.

Insider Activity at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,665 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $147.41, for a total transaction of $1,129,897.65. Following the completion of the transaction, the chief executive officer directly owned 222,285 shares in the company, valued at approximately $32,767,031.85. This represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Scott Farquhar sold 7,665 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $147.41, for a total value of $1,129,897.65. Following the completion of the transaction, the director owned 222,285 shares of the company’s stock, valued at $32,767,031.85. The trade was a 3.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 551,049 shares of company stock valued at $80,308,554 in the last quarter. Insiders own 36.66% of the company’s stock.

Atlassian News Roundup

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Jim Cramer called Atlassian “absurdly cheap” unless the business is about to collapse — a high-profile endorsement that can attract value-seeking buyers. Read More.
• Positive Sentiment: Strategists say recent software pullbacks driven by AI disruption fears created buying opportunities in higher-quality names, benefiting stocks like Atlassian as investors reposition. Read More.
• Positive Sentiment: Broad market improvement in software sentiment (Nasdaq bounce; Fear & Greed index moving toward neutral) is supporting demand for software stocks, including TEAM. Read More.
• Neutral Sentiment: Atlassian’s new marketing exposure via the Atlassian Williams F1 Team partnership with Estrella Galicia 0,0 could boost brand awareness internationally but is unlikely to materially change near-term revenue. Read More.
• Neutral Sentiment: Analysts and investors should monitor Atlassian’s international revenue mix as highlighted by Zacks; geographic exposure can affect growth durability and FX sensitivity. Read More.
• Negative Sentiment: Short interest rose materially in January to ~9.51M shares (about 5.7% of shares outstanding) with a ~1.6 days-to-cover — increased short activity can add selling pressure and volatility.
• Negative Sentiment: Guggenheim cut its price target to $190, and BTIG trimmed its target to $140 — analyst downgrades/target cuts can weigh on sentiment and cap near-term upside. Read More. Read More.

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.