Bank of New York Mellon Corp Reduces Holdings in Atlassian Corporation PLC $TEAM

Bank of New York Mellon Corp lowered its position in Atlassian Corporation PLC (NASDAQ:TEAM) by 14.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 893,357 shares of the technology company’s stock after selling 148,521 shares during the quarter. Bank of New York Mellon Corp’s holdings in Atlassian were worth $142,669,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Atlassian by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 17,430,078 shares of the technology company’s stock worth $3,539,875,000 after purchasing an additional 436,541 shares during the period. Artisan Partners Limited Partnership grew its stake in shares of 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 buying an additional 1,545,546 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Atlassian by 1.9% in the second quarter. Geode Capital Management LLC now owns 2,356,798 shares of the technology company’s stock worth $476,800,000 after buying an additional 43,899 shares during the period. AQR Capital Management LLC raised its holdings in shares of Atlassian by 12.7% in the second quarter. AQR Capital Management LLC now owns 1,933,851 shares of the technology company’s stock worth $392,282,000 after buying an additional 218,564 shares during the period. Finally, Norges Bank bought a new stake in shares of Atlassian during the 2nd quarter worth approximately $377,794,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on TEAM shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a research report on Wednesday, January 21st. BTIG Research restated a “buy” rating and issued a $220.00 price target on shares of Atlassian in a report on Tuesday, January 13th. BMO Capital Markets lifted their price objective on shares of Atlassian from $190.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Robert W. Baird lowered their price objective on shares of Atlassian from $230.00 to $170.00 and set an “outperform” rating for the company in a research report on Monday, January 26th. Finally, TD Cowen dropped their target price on shares of Atlassian from $205.00 to $175.00 and set a “hold” rating on the stock in a research note on Tuesday, January 20th. Twenty research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $227.60.

Atlassian News Summary

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Marketing / brand exposure — Atlassian’s Williams F1 team added Wilkinson Sword as an official partner, which can help enterprise brand awareness and demand generation over time. Read More.
• Neutral Sentiment: AI competitive landscape — Coverage highlights Anthropic’s Cowork as a potential disruptor to collaboration/workflow tools; important context for long‑term competitive risk but speculative for immediate fundamentals. Read More.
• Neutral Sentiment: Context pieces explain drivers behind today’s selloff (useful background but not new company financials). Read More.
• Negative Sentiment: Insider selling — CEO Michael Cannon‑Brookes and director Scott Farquhar executed multiple same‑period share sales (several blocks of ~7,665 shares), signaling near‑term negative sentiment and adding selling supply. Read More.
• Negative Sentiment: Legal risk — Pomerantz LLP launched an investor investigation into Atlassian, which can prolong downward pressure until claims are clarified or dismissed. Read More.
• Negative Sentiment: Analyst / sell‑side pressure — Recent analyst target reductions and negative notes (coverage cited) reduce near‑term upside expectations and can accelerate selling. Read More.
• Negative Sentiment: Bearish momentum — Stock hit a new 52‑week low and reports cite higher short interest, which can amplify declines via momentum and short‑term trading flows. Read More.

Insider Activity at Atlassian

In other news, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $153.77, for a total value of $1,178,647.05. Following the transaction, the chief executive officer directly owned 237,615 shares in the company, valued at approximately $36,538,058.55. This trade represents a 3.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,665 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $153.77, for a total value of $1,178,647.05. Following the sale, the director owned 237,615 shares of the company’s stock, valued at $36,538,058.55. This trade represents a 3.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 551,049 shares of company stock valued at $83,581,893 over the last ninety days. 36.66% of the stock is owned by company insiders.

Atlassian Stock Down 1.8%

NASDAQ:TEAM opened at $118.18 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. Atlassian Corporation PLC has a 1-year low of $115.01 and a 1-year high of $326.00. The company has a 50-day moving average of $148.99 and a 200 day moving average of $161.34. The firm has a market cap of $31.09 billion, a PE ratio of -166.45, a price-to-earnings-growth ratio of 18.64 and a beta of 0.88.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.83 by $0.21. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the business posted $0.77 EPS. The company’s quarterly revenue was up 20.6% compared to the same quarter last year. As a group, research analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Atlassian Company Profile

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.