JPMorgan Chase & Co. Sells 1,514,861 Shares of Atlassian Corporation PLC $TEAM

JPMorgan Chase & Co. lessened its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 38.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,398,853 shares of the technology company’s stock after selling 1,514,861 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.91% of Atlassian worth $383,103,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of TEAM. Capco Asset Management LLC bought a new position in shares of Atlassian in the second quarter worth about $25,000. Physician Wealth Advisors Inc. boosted its position in Atlassian by 60.4% in 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 period. Atlantic Union Bankshares Corp grew its stake in Atlassian by 19,900.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after acquiring an additional 199 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after acquiring an additional 161 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Atlassian during the third quarter worth approximately $57,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

TEAM has been the topic of several research analyst reports. Piper Sandler reissued an “overweight” rating and issued a $200.00 price objective (down previously from $280.00) on shares of Atlassian in a research note on Friday, February 6th. Guggenheim dropped their price target on Atlassian from $225.00 to $190.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. TD Cowen cut their price target on Atlassian from $205.00 to $175.00 and set a “hold” rating on the stock in a research note on Tuesday, January 20th. Cantor Fitzgerald lowered their price objective on shares of Atlassian from $240.00 to $146.00 and set an “overweight” rating for the company in a research note on Wednesday, February 4th. Finally, Jefferies Financial Group set a $150.00 target price on shares of Atlassian in a report on Friday, February 6th. Twenty equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $189.32.

Atlassian Price Performance

Shares of TEAM stock opened at $83.61 on Thursday. The stock’s 50-day moving average is $133.10 and its 200 day moving average is $151.98. Atlassian Corporation PLC has a 1-year low of $80.40 and a 1-year high of $315.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $22.05 billion, a P/E ratio of -116.12, a PEG ratio of 68.57 and a beta of 0.88.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, February 5th. The technology company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.54 billion. During the same period in the previous year, the company posted $0.96 earnings per share. The firm’s revenue was up 23.3% on a year-over-year basis. Research analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Atlassian News Roundup

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Atlassian named LinkedIn veteran James Chuong as its new chief financial officer, effective March 30 — a leadership move that can stabilize investor confidence and support financial strategy execution. Article Title Article Title
• Positive Sentiment: Analysts/commentators are calling TEAM “highly oversold,” prompting buy-the-dip interest from traders and value-oriented investors looking to add exposure around current levels. Article Title
• Neutral Sentiment: Coverage is reframing Atlassian after a recent “fair value reset,” which is shifting investor narratives from growth multiple expansion to selective re-valuation — this can increase volatility as market participants re-price expectations. Article Title
• Neutral Sentiment: Discussion that Atlassian’s AI transition is pressuring near-term sentiment but could support a longer-term thesis — mixed implications for trading vs. long-term holders. Article Title
• Neutral Sentiment: Broader software/AI weakness (illustrated by Palo Alto Networks’ stock reaction and cautious guidance) is keeping a lid on software multiples and could pressure peer stocks including TEAM. Article Title
• Neutral Sentiment: Other items in the newsfeed — token PR (Atlassian Williams F1 tickets) and ambiguous short-interest reporting — are unlikely to move fundamentals materially. Article Title
• Negative Sentiment: Pomerantz LLP launched an investor investigation into Atlassian, which introduces legal/ reputational risk and can increase downside pressure or volatility if it develops into formal litigation. Article Title

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction on Friday, February 6th. The shares were sold at an average price of $94.81, for a total value of $726,718.65. Following the transaction, the chief executive officer directly owned 275,940 shares of the company’s stock, valued at approximately $26,161,871.40. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott Farquhar sold 7,665 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $94.81, for a total value of $726,718.65. Following the sale, the director owned 275,940 shares of the company’s stock, valued at approximately $26,161,871.40. This represents a 2.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 475,758 shares of company stock valued at $68,994,874. 36.66% of the stock is owned by insiders.

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.