Exane Asset Management Takes Position in Atlassian Corporation PLC $TEAM

Exane Asset Management purchased a new position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 6,033 shares of the technology company’s stock, valued at approximately $963,000. Atlassian comprises 0.3% of Exane Asset Management’s investment portfolio, making the stock its 14th largest holding.

Several other institutional investors have also bought and sold shares of the company. Capco Asset Management LLC bought a new position in Atlassian during the second quarter valued at $25,000. Geneos Wealth Management Inc. lifted its position in shares of Atlassian by 447.2% during the 1st 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 last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Atlassian during the 3rd quarter worth $57,000. Quent Capital LLC purchased a new stake in Atlassian in the 3rd quarter worth about $60,000. Finally, Virtus Advisers LLC bought a new stake in Atlassian in the 2nd quarter valued at about $61,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. BTIG Research reiterated a “buy” rating and set a $220.00 target price on shares of Atlassian in a research report on Tuesday, January 13th. Truist Financial set a $210.00 price objective on shares of Atlassian in a report on Friday, October 31st. Robert W. Baird reduced their price objective on shares of Atlassian from $230.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday. Piper Sandler reissued an “overweight” rating on shares of Atlassian in a report on Tuesday, January 13th. Finally, TD Cowen cut their price target on Atlassian from $205.00 to $175.00 and set a “hold” rating for the company in a report on Tuesday, January 20th. Twenty-one research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.54.

Atlassian Stock Down 3.3%

Shares of NASDAQ:TEAM opened at $133.86 on Wednesday. The firm has a fifty day moving average price of $150.26 and a two-hundred day moving average price of $162.52. The company has a market cap of $35.22 billion, a price-to-earnings ratio of -188.53, a PEG ratio of 21.44 and a beta of 0.88. 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 one year low of $115.53 and a one year high of $326.00.

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

Insider Transactions at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $136.93, for a total transaction of $1,049,568.45. Following the completion of the sale, the chief executive officer directly owned 344,925 shares in the company, valued at $47,230,580.25. The trade was a 2.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Scott Farquhar sold 7,665 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $136.93, for a total transaction of $1,049,568.45. Following the completion of the transaction, the director directly owned 344,925 shares in the company, valued at $47,230,580.25. The trade was a 2.17% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 551,049 shares of company stock valued at $84,075,059. Corporate insiders own 36.66% of the company’s stock.

Key Stories Impacting Atlassian

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Atlassian renewed its long-term, fan-first partnership with Williams F1 (continued brand exposure and marketing momentum). Atlassian Williams F1 Team and Kraken renew long-term fan-first partnership
• Positive Sentiment: Sparco joined the Atlassian Williams F1 Team as the official racewear and technical apparel supplier (another marketing/brand partnership). Sparco joins Atlassian Williams F1 Team as Official Racewear and Technical Apparel Supplier
• Neutral Sentiment: Reported short-interest data is inconsistent (entries list a “large increase” but show zero shares and a 0.0 days short-interest ratio), so short activity is not a clear driver based on this release. (Data appears unreliable.)
• Neutral Sentiment: Coverage explaining the day’s move is available and summarizes the mix of items pressuring shares. Why Atlassian (TEAM) Shares Are Falling Today
• Negative Sentiment: Insider selling: CEO Michael Cannon-Brookes and Director Scott Farquhar each sold 7,665 shares at ~$136.93 (~$1.05M each), reducing their holdings by ~2.17% — a near-term negative signal for investor sentiment. SEC Filing – Insider Sale
• Negative Sentiment: Analyst action: Robert W. Baird lowered its price target from $230 to $170 (still an “outperform” rating), trimming upside expectations and likely adding downward pressure. Atlassian price target lowered at Baird
• Negative Sentiment: Investor litigation probe: Pomerantz LLP announced an investigation into Atlassian on behalf of investors, which can increase legal risk and weigh on the stock until resolved. Pomerantz investor alert

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.