Atlassian Corporation PLC $TEAM Shares Sold by Legal & General Group Plc

Legal & General Group Plc trimmed its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 4.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,094,090 shares of the technology company’s stock after selling 46,413 shares during the quarter. Legal & General Group Plc owned approximately 0.42% of Atlassian worth $174,726,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TEAM. Capco Asset Management LLC acquired a new stake in Atlassian during the 2nd quarter worth $25,000. Physician Wealth Advisors Inc. raised its position in shares of Atlassian by 60.4% in the third 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. Atlantic Union Bankshares Corp raised its position in shares of Atlassian by 19,900.0% in the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after buying an additional 199 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Atlassian by 447.2% in the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after buying an additional 161 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Atlassian during the third quarter worth about $57,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on TEAM shares. Mizuho dropped their price objective on shares of Atlassian from $205.00 to $185.00 and set an “outperform” rating for the company in a research note on Thursday. Weiss Ratings reissued a “sell (e+)” rating on shares of Atlassian in a research note on Wednesday, January 21st. Piper Sandler restated an “overweight” rating and issued a $200.00 price target (down from $280.00) on shares of Atlassian in a research report on Friday, February 6th. Zacks Research cut Atlassian from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 11th. Finally, Jefferies Financial Group set a $150.00 price objective on Atlassian in a research report on Friday, February 6th. Twenty-one analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and an average price target of $185.12.

Atlassian Trading Down 2.8%

NASDAQ TEAM opened at $73.34 on Friday. 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 stock has a market capitalization of $19.34 billion, a P/E ratio of -101.86, a PEG ratio of 298.87 and a beta of 0.94. The firm’s 50-day moving average is $105.78 and its two-hundred day moving average is $141.77. Atlassian Corporation PLC has a 12 month low of $67.85 and a 12 month high of $242.00.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, February 5th. The technology company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Atlassian had a negative net margin of 3.29% and a negative return on equity of 6.33%. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period last year, the business earned $0.96 earnings per share. On average, sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Atlassian News Summary

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Management says cuts will “self‑fund” AI and enterprise investments and accelerate the path to sustained profitability, which investors often view as a constructive cost/reinvestment tradeoff. Atlassian to lay off about 1,600 people in pivot to AI
• Positive Sentiment: Several outlets reported an initial positive market reaction to the layoffs (short‑term rally as investors reward cost discipline and AI focus). Atlassian shares rise after workforce reduction announcement
• Positive Sentiment: Mizuho lowered its price target from $205 to $185 but kept an “outperform” rating, signaling some analyst confidence in a recovery scenario despite near‑term uncertainty. PT lowered to $185 at Mizuho
• Neutral Sentiment: Short‑interest data in the feed shows zero shares shorted (likely a reporting anomaly) and is not informative for positioning right now. (No external link — data appears erroneous.)
• Neutral Sentiment: CEO communications emphasized a “human” approach to the layoffs; tone may limit reputational damage but doesn’t change the operational impact. Atlassian to Cut 10% of Jobs Citing AI. But Its CEO Used a Human Touch for the Layoffs.
• Negative Sentiment: Roughly 900 of the affected roles are in R&D — cuts to engineering/research staff could slow product development or delay AI initiatives, raising execution risk. Atlassian to reduce headcount by 10% as it restructures around AI
• Negative Sentiment: Leadership churn: the CTO is leaving amid the restructuring, which can increase short‑term uncertainty about execution. Atlassian layoffs impact 63 workers in Washington as CTO steps down
• Negative Sentiment: Bearish coverage and price‑prediction pieces highlight downside risk and lingering concerns about growth and margins; such narratives can pressure sentiment even if fundamentals improve later. Atlassian Price Prediction: Down 66%, TEAM Could Hit $185 Next

Insider Transactions at Atlassian

In other news, CRO Brian Duffy sold 1,222 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $81.35, for a total transaction of $99,409.70. Following the completion of the transaction, the executive directly owned 124,332 shares in the company, valued at $10,114,408.20. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the chief executive officer directly owned 275,940 shares of the company’s stock, valued at $26,161,871.40. The trade was a 2.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 343,273 shares of company stock worth $48,101,379 in the last three months. Company insiders own 36.66% of the company’s stock.

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.