DAVENPORT & Co LLC Sells 812 Shares of Atlassian Corporation PLC $TEAM

DAVENPORT & Co LLC cut its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 12.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,525 shares of the technology company’s stock after selling 812 shares during the quarter. DAVENPORT & Co LLC’s holdings in Atlassian were worth $1,122,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. One Wealth Advisors LLC increased its stake in Atlassian by 56.7% during the second quarter. One Wealth Advisors LLC now owns 4,436 shares of the technology company’s stock valued at $901,000 after acquiring an additional 1,606 shares during the period. Farther Finance Advisors LLC increased its stake in Atlassian by 37.7% during the first quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company’s stock valued at $80,000 after acquiring an additional 101 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Atlassian by 42.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,240 shares of the technology company’s stock valued at $900,000 after acquiring an additional 1,259 shares during the period. Principal Financial Group Inc. increased its stake in Atlassian by 350.1% during the first quarter. Principal Financial Group Inc. now owns 51,900 shares of the technology company’s stock valued at $11,014,000 after acquiring an additional 40,369 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Atlassian by 47,387.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,799 shares of the technology company’s stock valued at $822,000 after acquiring an additional 3,791 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Insider Transactions at Atlassian

In other news, Director Scott Farquhar sold 7,665 shares of the stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $145.85, for a total transaction of $1,117,940.25. Following the sale, the director directly owned 429,240 shares of the company’s stock, valued at $62,604,654. This represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Scott Belsky purchased 1,566 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were bought at an average cost of $153.10 per share, for a total transaction of $239,754.60. Following the completion of the purchase, the director directly owned 3,021 shares of the company’s stock, valued at $462,515.10. The trade was a 107.63% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 566,938 shares of company stock valued at $98,781,848. Corporate insiders own 38.55% of the company’s stock.

Atlassian Stock Performance

NASDAQ TEAM opened at $144.56 on Friday. The firm has a market cap of $37.92 billion, a price-to-earnings ratio of -146.02 and a beta of 0.92. The company has a 50 day moving average of $167.04 and a 200-day moving average of $192.79. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.73. Atlassian Corporation PLC has a 1-year low of $144.32 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.15. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.36 billion. Atlassian had a negative net margin of 4.92% and a negative return on equity of 14.77%. The company’s revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the business posted $0.66 earnings per share. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. On average, equities analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TEAM. Cantor Fitzgerald lowered their price target on Atlassian from $256.00 to $240.00 and set an “overweight” rating on the stock in a research note on Friday, August 8th. Barclays decreased their price objective on Atlassian from $244.00 to $215.00 and set an “overweight” rating on the stock in a report on Friday, August 8th. Canaccord Genuity Group decreased their price objective on Atlassian from $255.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, August 8th. Oppenheimer decreased their price objective on Atlassian from $300.00 to $275.00 and set an “outperform” rating on the stock in a report on Monday, July 21st. Finally, Bank of America began coverage on Atlassian in a report on Tuesday, September 23rd. They set a “neutral” rating and a $200.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $248.74.

Atlassian Profile

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its product portfolio includes Jira Software and Jira Work Management, a project management system that connects technical and business teams so they can better plan, organize, track and manage their work and projects; Confluence, a connected workspace that organizes knowledge across all teams to move work forward; and Trello, a collaboration and organization product that captures and adds structure to fluid and fast-forming work for teams.