ProShare Advisors LLC Has $28.79 Million Position in Atlassian Corporation PLC $TEAM

ProShare Advisors LLC lessened its position in Atlassian Corporation PLC (NASDAQ:TEAM) by 19.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 180,255 shares of the technology company’s stock after selling 44,878 shares during the quarter. ProShare Advisors LLC owned approximately 0.07% of Atlassian worth $28,787,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Capco Asset Management LLC bought a new position in shares of Atlassian during the 2nd quarter worth approximately $25,000. Physician Wealth Advisors Inc. boosted its holdings in Atlassian by 60.4% during the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after purchasing an additional 61 shares during the last quarter. Atlantic Union Bankshares Corp grew its position in 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 purchasing an additional 199 shares in the last quarter. Geneos Wealth Management Inc. increased 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 valued at $42,000 after buying an additional 161 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Atlassian in the 3rd quarter valued at $57,000. Institutional investors own 94.45% of the company’s stock.

Atlassian Stock Performance

TEAM opened at $92.92 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 0.89 and a debt-to-equity ratio of 0.62. Atlassian Corporation PLC has a 12-month low of $88.51 and a 12-month high of $324.16. The business has a 50 day moving average of $142.07 and a 200-day moving average of $156.33. The stock has a market cap of $24.45 billion, a price-to-earnings ratio of -129.05, a PEG ratio of 15.52 and a beta of 0.88.

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

Key Atlassian News

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Jim Cramer called Atlassian “absurdly cheap” unless the business is about to collapse — a high-profile endorsement that can attract value-seeking buyers. Read More.
• Positive Sentiment: Strategists say recent software pullbacks driven by AI disruption fears created buying opportunities in higher-quality names, benefiting stocks like Atlassian as investors reposition. Read More.
• Positive Sentiment: Broad market improvement in software sentiment (Nasdaq bounce; Fear & Greed index moving toward neutral) is supporting demand for software stocks, including TEAM. Read More.
• Neutral Sentiment: Atlassian’s new marketing exposure via the Atlassian Williams F1 Team partnership with Estrella Galicia 0,0 could boost brand awareness internationally but is unlikely to materially change near-term revenue. Read More.
• Neutral Sentiment: Analysts and investors should monitor Atlassian’s international revenue mix as highlighted by Zacks; geographic exposure can affect growth durability and FX sensitivity. Read More.
• Negative Sentiment: Short interest rose materially in January to ~9.51M shares (about 5.7% of shares outstanding) with a ~1.6 days-to-cover — increased short activity can add selling pressure and volatility.
• Negative Sentiment: Guggenheim cut its price target to $190, and BTIG trimmed its target to $140 — analyst downgrades/target cuts can weigh on sentiment and cap near-term upside. Read More. Read More.

Insider Activity

In other news, Director Scott Farquhar sold 7,665 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $94.81, for a total transaction of $726,718.65. Following the completion of the sale, the director owned 275,940 shares in the company, valued at $26,161,871.40. The trade was a 2.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 275,940 shares in the company, valued at $26,161,871.40. The trade was a 2.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 551,049 shares of company stock valued at $80,308,554 in the last ninety days. 36.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on TEAM shares. BMO Capital Markets set a $130.00 price objective on shares of Atlassian and gave the stock an “outperform” rating in a research note on Friday. Canaccord Genuity Group set a $185.00 target price on Atlassian in a report on Friday. Zacks Research upgraded Atlassian from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. Jefferies Financial Group set a $150.00 price target on Atlassian in a research report on Friday. Finally, Truist Financial set a $210.00 price objective on Atlassian in a research note on Friday, October 31st. Twenty equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $189.32.

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.