Coatue Management LLC Cuts Stock Holdings in Atlassian Corporation PLC $TEAM

Coatue Management LLC lessened its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 10.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,077,303 shares of the technology company’s stock after selling 230,583 shares during the quarter. Coatue Management LLC owned about 0.79% of Atlassian worth $331,745,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. DNB Asset Management AS increased its holdings in shares of Atlassian by 266.6% during the 3rd quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company’s stock worth $448,260,000 after buying an additional 2,041,210 shares during the last quarter. Norges Bank acquired a new position in Atlassian in the second quarter valued at $377,794,000. Artisan Partners Limited Partnership grew its position in Atlassian by 66.3% during the second quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company’s stock valued at $787,610,000 after acquiring an additional 1,545,546 shares during the period. Vanguard Group Inc. grew its position in Atlassian by 6.0% during the third quarter. Vanguard Group Inc. now owns 18,479,561 shares of the technology company’s stock valued at $2,951,186,000 after acquiring an additional 1,049,483 shares during the period. Finally, Swedbank AB increased its stake in Atlassian by 139.6% during the third quarter. Swedbank AB now owns 1,372,976 shares of the technology company’s stock worth $219,264,000 after acquiring an additional 800,000 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $75.21 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. Atlassian Corporation PLC has a 1-year low of $67.85 and a 1-year high of $242.00. The company has a market capitalization of $19.84 billion, a price-to-earnings ratio of -104.46, a PEG ratio of 297.93 and a beta of 0.94. The business has a 50-day moving average of $104.18 and a 200-day moving average of $140.96.

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

More Atlassian News

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Workforce cut framed as a productivity and margin play — several outlets reported the market initially viewed the ~1,600-job reduction as a disciplined step to reallocate resources toward higher-return AI and enterprise sales initiatives, which can support faster path to profitability. Atlassian shares rise after workforce reduction announcement
• Positive Sentiment: Analyst stance not uniformly bearish — the Street consensus remains constructive (a “Moderate Buy” in recent coverage) and Mizuho retains an outperform view despite lowering its price target to $185, signaling some analysts see material upside if the AI/enterprise pivot delivers. Atlassian Receives Consensus Recommendation of “Moderate Buy” Mizuho PT lowered to $185
• Neutral Sentiment: Short-interest reporting in recent data is unreliable/zero and doesn’t provide a meaningful signal for current positioning (tells us little about forced selling risk). (Data entry)
• Negative Sentiment: Significant one-time charges and leadership change — Atlassian disclosed an estimated $225M–$236M in restructuring charges and said longtime CTO Rajeev Rajan is stepping down; those details amplified downside as investors priced the near-term hit to earnings and execution risk around the AI pivot. Atlassian (TEAM) Is Down 11.1% After Restructuring To Fund AI And Enterprise Sales Pivot
• Negative Sentiment: Layoffs concentrated in R&D raise execution and product-cycle questions — reports note >900 R&D roles affected, which could slow product development even as the company shifts priorities; this feeds short-term uncertainty about roadmap delivery. Atlassian to reduce headcount by 10% as it restructures around AI
• Negative Sentiment: Reputational/strategic risk: critics warn of “AI-washing” — coverage and commentary question whether layoffs are genuine productivity moves or cosmetic AI repositioning, which can weigh on investor confidence if the strategy lacks clear near-term revenue pathways. Atlassian Layoffs Reignite Conversations Around The Rise Of AI Washing in 2026
• Negative Sentiment: Valuation and sentiment already under pressure — bearish price forecasts and a steep YTD/1‑yr decline have left the stock vulnerable to downside momentum if execution doubts persist. Atlassian Price Prediction: Down 66%, TEAM Could Hit $185 Next

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TEAM. Guggenheim cut their price objective on Atlassian from $225.00 to $190.00 and set a “buy” rating on the stock in a report on Friday, February 6th. BTIG Research decreased their target price on Atlassian from $220.00 to $140.00 and set a “buy” rating for the company in a report on Friday, February 6th. Jefferies Financial Group set a $150.00 target price on shares of Atlassian in a research report on Friday, February 6th. Zacks Research lowered shares of Atlassian from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 11th. Finally, Cantor Fitzgerald reduced their price target on shares of Atlassian from $240.00 to $146.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 4th. Twenty-one analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $185.12.

Insider Buying and Selling

In other news, CTO Rajeev Bashyam Rajan sold 3,072 shares of Atlassian stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $81.35, for a total transaction of $249,907.20. Following the sale, the chief technology officer owned 212,916 shares in the company, valued at $17,320,716.60. This trade represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Brian Duffy sold 1,222 shares of the business’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 transaction, the executive directly owned 124,332 shares in the company, valued at approximately $10,114,408.20. The trade was a 0.97% 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 valued at $48,101,379 over 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.