The Manufacturers Life Insurance Company Sells 4,504 Shares of Atlassian Corporation PLC $TEAM

The Manufacturers Life Insurance Company lowered its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 60.4% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,954 shares of the technology company’s stock after selling 4,504 shares during the period. The Manufacturers Life Insurance Company’s holdings in Atlassian were worth $202,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its stake in Atlassian by 291.4% in the fourth quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company’s stock worth $1,256,535,000 after acquiring an additional 5,769,788 shares during the period. Norges Bank bought a new position in Atlassian in the 4th quarter worth $323,526,000. Morgan Stanley lifted its position in shares of Atlassian by 52.4% in the 4th quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock worth $781,841,000 after purchasing an additional 1,657,309 shares during the period. KBC Group NV lifted its position in shares of Atlassian by 1,691.2% in the 1st quarter. KBC Group NV now owns 1,440,019 shares of the technology company’s stock worth $98,281,000 after purchasing an additional 1,359,624 shares during the period. Finally, Carmignac Gestion boosted its stake in shares of Atlassian by 6,602.0% during the 4th quarter. Carmignac Gestion now owns 1,206,368 shares of the technology company’s stock valued at $195,601,000 after purchasing an additional 1,188,368 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TEAM shares. Guggenheim raised their target price on Atlassian from $115.00 to $165.00 and gave the company a “buy” rating in a research note on Friday, August 7th. UBS Group boosted their target price on shares of Atlassian from $95.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Bank of America upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and set a $175.00 price target for the company in a research note on Friday, August 7th. Barclays upped their price objective on shares of Atlassian from $112.00 to $172.00 and gave the stock an “overweight” rating in a report on Monday, August 10th. Finally, FBN Securities reiterated an “outperform” rating and set a $170.00 target price on shares of Atlassian in a report on Monday, August 10th. Twenty-four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and an average target price of $176.27.

Insider Activity

In related news, CRO Brian Duffy sold 7,617 shares of Atlassian stock in a transaction on Friday, August 14th. The shares were sold at an average price of $163.00, for a total transaction of $1,241,571.00. Following the transaction, the executive owned 220,074 shares in the company, valued at approximately $35,872,062. The trade was a 3.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Gene Liu sold 815 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $163.00, for a total value of $132,845.00. Following the completion of the transaction, the chief accounting officer directly owned 57,932 shares of the company’s stock, valued at approximately $9,442,916. This trade represents a 1.39% decrease in their position. 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 sold 18,319 shares of company stock worth $2,341,407 in the last ninety days. Corporate insiders own 36.66% of the company’s stock.

Atlassian Trading Down 2.4%

Shares of TEAM stock opened at $158.34 on Tuesday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13. Atlassian Corporation PLC has a 12-month low of $56.01 and a 12-month high of $184.00. The stock has a market capitalization of $40.18 billion, a P/E ratio of -833.37, a P/E/G ratio of 18.33 and a beta of 1.05. The firm’s 50 day moving average is $99.46 and its 200 day moving average is $87.93.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Friday, August 7th. The technology company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.50 by $0.37. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.07%. The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The business’s revenue for the quarter was up 27.6% compared to the same quarter last year. Research analysts expect that Atlassian Corporation PLC will post 0.65 earnings per share for the current year.

Atlassian News Summary

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Atlassian and Cloudflare are being cited as companies pushing back against the “SaaSpocalypse”—market concerns that AI disruption and weaker corporate IT spending will damage enterprise-software demand. The article suggests Atlassian’s business remains more resilient than the recent selloff in software stocks implies. SaaSpocalypse Defied: Atlassian and Cloudflare Push Back Against Enterprise Tech Fears
• Neutral Sentiment: Chief Accounting Officer Gene Liu sold a combined 1,552 shares for approximately $254,450, while Chief Revenue Officer Brian Duffy sold 7,617 shares for about $1.24 million. The filings state that all sales were made to cover tax-withholding obligations tied to vested equity awards, reducing their ownership modestly but offering limited evidence of a discretionary bearish view. Atlassian insider sale filing Brian Duffy insider sale filing
• Negative Sentiment: A comparison with Salesforce favors Salesforce over Atlassian, citing stronger AI momentum, a better earnings outlook and a lower valuation. The analysis could pressure TEAM by reinforcing concerns that its premium valuation leaves less room for execution missteps as investors increase spending on AI. Atlassian vs. Salesforce: Which Cloud Software Stock Has an Edge?

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.