OFI Invest Asset Management Buys 35,682 Shares of Atlassian Corporation PLC $TEAM

OFI Invest Asset Management increased its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 16.3% during the 4th quarter, Holdings Channel reports. The firm owned 254,551 shares of the technology company’s stock after purchasing an additional 35,682 shares during the quarter. OFI Invest Asset Management’s holdings in Atlassian were worth $41,273,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Atlassian by 6.0% in the third quarter. Vanguard Group Inc. now owns 18,479,561 shares of the technology company’s stock worth $2,951,186,000 after buying an additional 1,049,483 shares in the last quarter. State Street Corp boosted its stake in shares of Atlassian by 1.9% during the third quarter. State Street Corp now owns 3,867,995 shares of the technology company’s stock valued at $617,719,000 after purchasing an additional 73,014 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Atlassian by 18.7% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,867,886 shares of the technology company’s stock valued at $458,001,000 after purchasing an additional 451,706 shares during the period. DNB Asset Management AS boosted its stake in shares of Atlassian by 266.6% during the third quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company’s stock valued at $448,260,000 after purchasing an additional 2,041,210 shares during the period. Finally, Sands Capital Management LLC boosted its stake in shares of Atlassian by 2.0% during the third quarter. Sands Capital Management LLC now owns 2,641,730 shares of the technology company’s stock valued at $421,884,000 after purchasing an additional 53,007 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Key Atlassian News

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Atlassian launched new AI features for Confluence (Remix open beta) that turn text into charts, infographics and presentation-ready visuals and added partner agents for its Lov assistant — a strategic product expansion that could increase user engagement and upsell opportunities. Atlassian Launches New AI Features in Confluence to Transform Text into Dynamic Visuals
• Positive Sentiment: Analyst sentiment has shown some support: Zacks upgraded TEAM from “strong sell” to “hold,” and broker consensus ratings still skew toward “Moderate Buy,” providing partial analyst support to the shares. Zacks.com
• Neutral Sentiment: Arctiq’s integration of Forty8Fifty Labs (part of Verinext) expands a channel/partner ecosystem that could indirectly improve Atlassian services adoption by large customers, but it’s a third-party development with limited immediate revenue impact. Arctiq Integrates Forty8Fifty Labs Brand to Expand Atlassian Expertise and Global Innovation Capabilities
• Negative Sentiment: Reporting around the Confluence AI rollout also highlighted that Atlassian cut roughly 1,600 jobs about a month ago — a reminder of cost pressures and restructuring that can signal disruption and uncertainty to investors. Atlassian brings AI visual tools and partner agents to Confluence, 1 month after cutting 1,600 jobs
• Negative Sentiment: Mattermost and partners are pitching a self-hosted Confluence alternative for defense and critical infrastructure customers affected by Atlassian’s decision to retire some on-premise Confluence options — intensifying competitive and sovereign-cloud risks that could pressure retention in sensitive verticals. Mattermost Challenge To Confluence Exit Meets Atlassian Valuation Discount Concerns

Atlassian Stock Performance

Shares of TEAM stock opened at $63.62 on Thursday. The stock has a fifty day moving average of $80.07 and a 200 day moving average of $127.86. Atlassian Corporation PLC has a 52 week low of $63.20 and a 52 week high of $242.00. The firm has a market capitalization of $16.78 billion, a price-to-earnings ratio of -88.36 and a beta of 0.99. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.62.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Friday, February 6th. The technology company reported $1.22 EPS 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 company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter last year, the firm posted $0.96 earnings per share. The firm’s revenue was up 23.3% on a year-over-year basis. As a group, research analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Morgan Stanley dropped their price objective on Atlassian from $320.00 to $290.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. BMO Capital Markets set a $130.00 price objective on Atlassian and gave the company an “outperform” rating in a research note on Friday, February 6th. Wolfe Research reissued an “outperform” rating and set a $100.00 price objective on shares of Atlassian in a research note on Thursday, March 12th. Oppenheimer dropped their price objective on Atlassian from $275.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, February 6th. Finally, BNP Paribas Exane assumed coverage on Atlassian in a research note on Monday, March 16th. They set an “outperform” rating and a $95.00 price objective for the company. Twenty investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.00.

Insider Buying and Selling

In related news, CFO Joseph Leo Binz sold 1,653 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 value of $134,471.55. Following the completion of the sale, the chief financial officer owned 208,639 shares of the company’s stock, valued at $16,972,782.65. This trade represents a 0.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Cannon-Brookes sold 7,665 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 189,973 shares of company stock valued at $23,479,713 over the last three months. 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.