10,379 Shares of Atlassian Corporation PLC $TEAM Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. purchased a new position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 10,379 shares of the technology company’s stock, valued at approximately $1,826,000.

A number of other institutional investors have also recently bought and sold shares of TEAM. Activest Wealth Management raised its stake in Atlassian by 372.4% in the third quarter. Activest Wealth Management now owns 137 shares of the technology company’s stock valued at $25,000 after buying an additional 108 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of Atlassian in the second quarter valued at approximately $27,000. MassMutual Private Wealth & Trust FSB lifted its position in shares of Atlassian by 139.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 378 shares of the technology company’s stock valued at $29,000 after buying an additional 220 shares during the last quarter. Western Wealth Management LLC bought a new position in shares of Atlassian during the 1st quarter worth approximately $30,000. Finally, State of Wyoming boosted its stake in shares of Atlassian by 65.7% during the 1st quarter. State of Wyoming now owns 449 shares of the technology company’s stock worth $31,000 after acquiring an additional 178 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Key Atlassian News

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Fiscal Q1 revenue rose 23.7% year over year to $1.77 billion, while adjusted EPS of $1.65 topped the $1.39 consensus. Cloud revenue grew 30.5%, and the company reported stronger margins and free cash flow. Atlassian Q1 results
• Positive Sentiment: AI-related adoption showed momentum: Teamwork Collection customers grew sevenfold year over year, and remaining performance obligations increased 44%. Atlassian also guided to $7.5 billion in FY2027 revenue, above the $7.4 billion consensus. Q1 earnings call highlights
• Positive Sentiment: Piper Sandler raised its price target to $190 and kept an “overweight” rating, signaling continued optimism despite the post-earnings concerns. Piper Sandler target update
• Negative Sentiment: The main concern is deceleration: Atlassian expects next-quarter cloud growth of 27%, below Q1’s 30.5%, and increased its full-year cloud growth outlook only modestly, from 25.5% to 26%. Management cited timing-related Data Center revenue effects, dampening the impact of the quarterly beat. Cloud growth outlook
• Negative Sentiment: Several firms cut price targets, including Truist ($250 to $200), Wells Fargo ($270 to $200), and Oppenheimer ($275 to $240), though they maintained positive ratings. These reductions underscore investor concerns about growth expectations after the results. Truist rating update

Analyst Ratings Changes

TEAM has been the topic of a number of recent analyst reports. Morgan Stanley boosted their target price on Atlassian from $120.00 to $180.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Bank of America increased their price target on Atlassian from $175.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, August 31st. Truist Financial reaffirmed a “buy” rating and set a $200.00 price target (down from $250.00) on shares of Atlassian in a report on Friday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a research report on Thursday, October 15th. Finally, Wall Street Zen upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a report on Sunday, September 13th. Twenty-four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $210.96.

Insider Transactions at Atlassian

In related news, CFO James Chuong sold 9,054 shares of the business’s stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total value of $1,561,362.30. Following the completion of the sale, the chief financial officer directly owned 279,218 shares in the company, valued at $48,151,144.10. The trade was a 3.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 7,617 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $163.00, for a total value of $1,241,571.00. Following the completion of the sale, the executive owned 220,074 shares of the company’s stock, valued at $35,872,062. This trade represents a 3.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 22,475 shares of company stock worth $3,822,643. Company insiders own 37.63% of the company’s stock.

Atlassian Stock Down 16.2%

Atlassian stock opened at $153.68 on Friday. The company’s 50-day moving average price is $196.05 and its two-hundred day moving average price is $119.57. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.93. The stock has a market cap of $38.90 billion, a P/E ratio of 426.90, a P/E/G ratio of 16.39 and a beta of 1.16. Atlassian Corporation PLC has a twelve month low of $56.01 and a twelve month high of $229.96.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, November 5th. The technology company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.26. Atlassian had a return on equity of 31.64% and a net margin of 1.28%. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the company posted $1.04 earnings per share. The business’s revenue was up 23.7% on a year-over-year basis. As a group, analysts expect that Atlassian Corporation PLC will post 0.66 EPS for the current year.

Atlassian Profile

Atlassian Corporation develops collaboration and productivity software for software, IT and business teams. Its products help organizations plan and track work, manage software development and support services, and share information across teams.

Its product portfolio includes Jira for project and issue tracking, Confluence for team documentation and collaboration, Jira Service Management for IT and other service teams, Trello for visual work management, and Bitbucket for code collaboration.