Jessup Wealth Management Inc Decreases Stock Holdings in Atlassian Corporation PLC $TEAM

Jessup Wealth Management Inc reduced its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 32.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,748 shares of the technology company’s stock after selling 9,864 shares during the quarter. Atlassian accounts for approximately 1.7% of Jessup Wealth Management Inc’s portfolio, making the stock its 20th largest holding. Jessup Wealth Management Inc’s holdings in Atlassian were worth $4,214,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TEAM. Plato Investment Management Ltd boosted its stake in shares of Atlassian by 30.0% during the 2nd quarter. Plato Investment Management Ltd now owns 8,403 shares of the technology company’s stock worth $1,700,000 after acquiring an additional 1,938 shares in the last quarter. Fisher Funds Management LTD increased its stake in Atlassian by 8.1% in the 2nd quarter. Fisher Funds Management LTD now owns 267,212 shares of the technology company’s stock valued at $54,268,000 after purchasing an additional 20,046 shares in the last quarter. Simon Quick Advisors LLC raised its holdings in Atlassian by 25.4% during the second quarter. Simon Quick Advisors LLC now owns 1,571 shares of the technology company’s stock worth $319,000 after purchasing an additional 318 shares during the last quarter. Strs Ohio boosted its position in Atlassian by 18.0% during the second quarter. Strs Ohio now owns 121,869 shares of the technology company’s stock worth $24,750,000 after purchasing an additional 18,603 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in Atlassian by 9.4% in the second quarter. Amalgamated Bank now owns 12,423 shares of the technology company’s stock valued at $2,523,000 after purchasing an additional 1,063 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Stock Up 5.4%

TEAM stock opened at $169.42 on Friday. The stock has a market cap of $44.44 billion, a PE ratio of -238.62 and a beta of 0.92. The firm’s 50-day simple moving average is $164.09 and its 200 day simple moving average is $187.87. Atlassian Corporation PLC has a fifty-two week low of $144.32 and a fifty-two week high of $326.00. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.73.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.83 by $0.21. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.20%. Atlassian’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 EPS. Atlassian has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. As a group, sell-side analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Insider Buying and Selling

In other news, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $160.41, for a total transaction of $1,229,542.65. Following the transaction, the director directly owned 321,930 shares in the company, valued at approximately $51,640,791.30. This trade represents a 2.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the business’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $160.40, for a total value of $1,229,466.00. Following the completion of the sale, the chief executive officer directly owned 321,930 shares in the company, valued at $51,637,572. This represents a 2.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 551,608 shares of company stock valued at $91,244,164. Company insiders own 36.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Capital One Financial downgraded Atlassian from an “overweight” rating to an “equal weight” rating and set a $211.00 price objective for the company. in a research report on Wednesday, July 16th. Wells Fargo & Company initiated coverage on shares of Atlassian in a research note on Tuesday, September 30th. They issued an “overweight” rating and a $216.00 target price for the company. Oppenheimer cut their target price on shares of Atlassian from $300.00 to $275.00 and set an “outperform” rating on the stock in a research note on Monday, July 21st. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Atlassian in a report on Wednesday, October 22nd. Finally, Zacks Research cut shares of Atlassian from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $239.84.

Atlassian Company 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.