6,178 Shares in Atlassian Corporation PLC $TEAM Acquired by Allstate Corp

Allstate Corp acquired a new stake in Atlassian Corporation PLC (NASDAQ:TEAM) in the third quarter, Holdings Channel.com reports. The firm acquired 6,178 shares of the technology company’s stock, valued at approximately $987,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capco Asset Management LLC bought a new position in shares of Atlassian in the second quarter worth $25,000. Geneos Wealth Management Inc. lifted its holdings in Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after purchasing an additional 161 shares in the last quarter. Virtus Advisers LLC purchased a new stake in Atlassian during the 2nd quarter worth about $61,000. First Horizon Advisors Inc. boosted its stake in Atlassian by 40.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 374 shares of the technology company’s stock worth $76,000 after purchasing an additional 107 shares during the period. Finally, Quent Capital LLC purchased a new position in Atlassian during the 3rd quarter valued at about $60,000. Institutional investors own 94.45% of the company’s stock.

Key Headlines Impacting Atlassian

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: BTIG remains bullish after Atlassian’s Data Center pricing update, signaling continued confidence in revenue/corporate demand dynamics. BTIG Stays Bullish on Atlassian (TEAM) After Data Center Pricing Update
• Positive Sentiment: A recent analysis argues AI-driven disruption fears are overblown, stressing Atlassian’s strong switching costs, data ownership, and complex workflows that protect revenue and margins — a bullish read for long-term holders. Atlassian: AI Fears Are Overblown
• Neutral Sentiment: Mizuho lowered its price target from $245 to $225 but maintained an Outperform rating — a downward revision to upside expectations but still a positive stance relative to the market. Mizuho lowers price target to $225 (Outperform)
• Negative Sentiment: TD Cowen trimmed its target to $175 and moved to a Hold rating, reducing analyst conviction and lowering implied upside — a headwind for momentum. TD Cowen lowers price target to $175 (Hold)
• Negative Sentiment: Insider sales: CEO Michael Cannon-Brookes and co-founder/director Scott Farquhar each sold 7,665 shares (same trade), trimming their holdings by ~2% at ~$118.19 per share — a signal some investors read as negative even though remaining ownership remains sizable. SEC filings here and here. Farquhar SEC Filing Cannon-Brookes SEC Filing

Insider Activity at Atlassian

In other Atlassian news, Director Scott Farquhar sold 7,665 shares of the stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $118.19, for a total transaction of $905,926.35. Following the transaction, the director directly owned 375,585 shares in the company, valued at $44,390,391.15. This trade represents a 2.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $118.19, for a total transaction of $905,926.35. Following the transaction, the chief executive officer directly owned 375,585 shares in the company, valued at $44,390,391.15. This trade represents a 2.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 566,379 shares of company stock valued at $87,553,359. 36.66% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on TEAM shares. Mizuho reduced their price objective on shares of Atlassian from $245.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday. KeyCorp cut their price target on shares of Atlassian from $250.00 to $210.00 and set an “overweight” rating for the company in a report on Thursday, October 23rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $240.00 price target on shares of Atlassian in a report on Friday, October 31st. Zacks Research upgraded Atlassian from a “strong sell” rating to a “hold” rating in a research report on Monday, November 3rd. Finally, Sanford C. Bernstein boosted their target price on Atlassian from $290.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 18th. Twenty-one equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $235.38.

Atlassian Stock Up 3.7%

TEAM opened at $122.41 on Thursday. The business’s fifty day simple moving average is $151.58 and its 200 day simple moving average is $164.95. Atlassian Corporation PLC has a 52 week low of $115.53 and a 52 week high of $326.00. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The stock has a market cap of $32.21 billion, a PE ratio of -172.41, a P/E/G ratio of 18.28 and a beta of 0.88.

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

About Atlassian

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.