Truist Financial Corp Cuts Holdings in Atlassian Corporation PLC $TEAM

Truist Financial Corp lowered its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 21.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,859 shares of the technology company’s stock after selling 7,424 shares during the quarter. Truist Financial Corp’s holdings in Atlassian were worth $5,658,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Union Bancaire Privee UBP SA lifted its stake in Atlassian by 1.6% during the second quarter. Union Bancaire Privee UBP SA now owns 29,555 shares of the technology company’s stock worth $6,002,000 after purchasing an additional 456 shares during the last quarter. Chicago Capital LLC increased its position in shares of Atlassian by 7.5% during the 2nd quarter. Chicago Capital LLC now owns 1,710 shares of the technology company’s stock valued at $347,000 after purchasing an additional 120 shares during the last quarter. One Wealth Advisors LLC raised its holdings in shares of Atlassian by 56.7% during the 2nd quarter. One Wealth Advisors LLC now owns 4,436 shares of the technology company’s stock valued at $901,000 after buying an additional 1,606 shares in the last quarter. HB Wealth Management LLC lifted its position in Atlassian by 31.8% in the 2nd quarter. HB Wealth Management LLC now owns 10,347 shares of the technology company’s stock worth $2,101,000 after buying an additional 2,497 shares during the last quarter. Finally, Genesis Private Wealth LLC boosted its stake in Atlassian by 21.5% in the second quarter. Genesis Private Wealth LLC now owns 1,301 shares of the technology company’s stock worth $264,000 after buying an additional 230 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Atlassian

In other news, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $150.86, for a total transaction of $1,156,341.90. Following the sale, the director owned 467,565 shares of the company’s stock, valued at approximately $70,536,855.90. The trade was a 1.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Scott Belsky purchased 1,566 shares of Atlassian stock in a transaction that occurred on Wednesday, October 1st. The shares were bought at an average price of $153.10 per share, for a total transaction of $239,754.60. Following the transaction, the director directly owned 3,021 shares of the company’s stock, valued at $462,515.10. This trade represents a 107.63% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 551,608 shares of company stock worth $98,246,678 over the last quarter. Corporate insiders own 38.55% of the company’s stock.

Atlassian Stock Down 0.2%

Shares of NASDAQ:TEAM opened at $150.19 on Tuesday. The stock’s 50-day moving average is $170.64 and its 200 day moving average is $194.64. The company has a market cap of $39.40 billion, a PE ratio of -151.71 and a beta of 0.92. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.22. Atlassian Corporation PLC has a 1 year low of $147.40 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.15. Atlassian had a negative return on equity of 14.77% and a negative net margin of 4.92%.The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the business posted $0.66 EPS. The business’s revenue was up 22.3% on a year-over-year basis. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. Sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on TEAM shares. Mizuho decreased their price target on shares of Atlassian from $265.00 to $235.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Citigroup reduced their target price on shares of Atlassian from $300.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, August 18th. Oppenheimer lowered their price target on shares of Atlassian from $300.00 to $275.00 and set an “outperform” rating for the company in a research note on Monday, July 21st. Weiss Ratings restated a “sell (e+)” rating on shares of Atlassian in a research report on Saturday, September 27th. Finally, Zacks Research upgraded Atlassian from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and a consensus price target of $248.74.

Atlassian Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.