Bank of Nova Scotia Reduces Position in Atlassian Corporation PLC $TEAM

Bank of Nova Scotia decreased its position in Atlassian Corporation PLC (NASDAQ:TEAM) by 28.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 216,603 shares of the technology company’s stock after selling 87,612 shares during the period. Bank of Nova Scotia owned about 0.08% of Atlassian worth $34,591,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Physician Wealth Advisors Inc. raised its holdings in Atlassian by 60.4% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after buying an additional 61 shares during the last quarter. Snowden Capital Advisors LLC grew its holdings in Atlassian by 1.6% in the 2nd quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock worth $907,000 after acquiring an additional 71 shares during the last quarter. Cetera Investment Advisers increased its position in shares of Atlassian by 0.3% in the second quarter. Cetera Investment Advisers now owns 24,808 shares of the technology company’s stock valued at $5,038,000 after acquiring an additional 79 shares during the period. ABN Amro Investment Solutions increased its position in shares of Atlassian by 3.4% in the third quarter. ABN Amro Investment Solutions now owns 2,452 shares of the technology company’s stock valued at $392,000 after acquiring an additional 80 shares during the period. Finally, Allegiance Financial Group Advisory Services LLC raised its stake in shares of Atlassian by 6.6% during the third quarter. Allegiance Financial Group Advisory Services LLC now owns 1,307 shares of the technology company’s stock valued at $209,000 after acquiring an additional 81 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $75.21 on Monday. Atlassian Corporation PLC has a 1 year low of $67.85 and a 1 year high of $242.00. The stock has a market capitalization of $19.84 billion, a P/E ratio of -104.46 and a beta of 0.94. The company’s 50-day moving average is $104.18 and its 200 day moving average is $140.74. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.89 and a quick ratio of 0.89.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data 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 net margin of 3.29% and a negative return on equity of 6.33%. The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period last year, the business posted $0.96 earnings per share. Atlassian’s quarterly revenue was up 23.3% compared to the same quarter last year. On average, sell-side analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Key Stories Impacting Atlassian

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Workforce cut framed as a productivity and margin play — several outlets reported the market initially viewed the ~1,600-job reduction as a disciplined step to reallocate resources toward higher-return AI and enterprise sales initiatives, which can support faster path to profitability. Atlassian shares rise after workforce reduction announcement
• Positive Sentiment: Analyst stance not uniformly bearish — the Street consensus remains constructive (a “Moderate Buy” in recent coverage) and Mizuho retains an outperform view despite lowering its price target to $185, signaling some analysts see material upside if the AI/enterprise pivot delivers. Atlassian Receives Consensus Recommendation of “Moderate Buy” Mizuho PT lowered to $185
• Neutral Sentiment: Short-interest reporting in recent data is unreliable/zero and doesn’t provide a meaningful signal for current positioning (tells us little about forced selling risk). (Data entry)
• Negative Sentiment: Significant one-time charges and leadership change — Atlassian disclosed an estimated $225M–$236M in restructuring charges and said longtime CTO Rajeev Rajan is stepping down; those details amplified downside as investors priced the near-term hit to earnings and execution risk around the AI pivot. Atlassian (TEAM) Is Down 11.1% After Restructuring To Fund AI And Enterprise Sales Pivot
• Negative Sentiment: Layoffs concentrated in R&D raise execution and product-cycle questions — reports note >900 R&D roles affected, which could slow product development even as the company shifts priorities; this feeds short-term uncertainty about roadmap delivery. Atlassian to reduce headcount by 10% as it restructures around AI
• Negative Sentiment: Reputational/strategic risk: critics warn of “AI-washing” — coverage and commentary question whether layoffs are genuine productivity moves or cosmetic AI repositioning, which can weigh on investor confidence if the strategy lacks clear near-term revenue pathways. Atlassian Layoffs Reignite Conversations Around The Rise Of AI Washing in 2026
• Negative Sentiment: Valuation and sentiment already under pressure — bearish price forecasts and a steep YTD/1‑yr decline have left the stock vulnerable to downside momentum if execution doubts persist. Atlassian Price Prediction: Down 66%, TEAM Could Hit $185 Next

Analysts Set New Price Targets

Several analysts recently issued reports on TEAM shares. Zacks Research cut Atlassian from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 11th. KeyCorp lowered their price target on Atlassian from $210.00 to $170.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Morgan Stanley dropped their price objective on Atlassian from $320.00 to $290.00 and set an “overweight” rating for the company in a report on Friday, February 6th. TD Cowen cut their price objective on Atlassian from $205.00 to $175.00 and set a “hold” rating on the stock in a research report on Tuesday, January 20th. Finally, Canaccord Genuity Group set a $185.00 target price on Atlassian in a research note on Friday, February 6th. Twenty-one investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $185.12.

Insider Buying and Selling

In related news, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $163.66, for a total transaction of $1,254,453.90. Following the sale, the director directly owned 7,665 shares in the company, valued at $1,254,453.90. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the company’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $162.68, for a total value of $1,246,942.20. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 327,943 shares of company stock valued at $45,665,135. 36.66% of the stock is currently owned by company insiders.

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.