Citigroup Inc. Acquires 214,958 Shares of Atlassian Corporation PLC $TEAM

Citigroup Inc. increased its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 85.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 466,772 shares of the technology company’s stock after acquiring an additional 214,958 shares during the quarter. Citigroup Inc.’s holdings in Atlassian were worth $94,797,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TEAM. Vanguard Group Inc. boosted its stake in Atlassian by 3.5% during the first quarter. Vanguard Group Inc. now owns 16,993,537 shares of the technology company’s stock worth $3,606,198,000 after acquiring an additional 580,583 shares in the last quarter. Baillie Gifford & Co. raised its holdings in shares of Atlassian by 7.1% during the first quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company’s stock valued at $1,845,114,000 after purchasing an additional 573,696 shares during the period. Voya Investment Management LLC boosted its position in shares of Atlassian by 24.1% during the 1st quarter. Voya Investment Management LLC now owns 2,695,889 shares of the technology company’s stock worth $571,894,000 after purchasing an additional 523,035 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Atlassian by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 2,356,798 shares of the technology company’s stock valued at $476,800,000 after buying an additional 43,899 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of Atlassian by 6.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,972,130 shares of the technology company’s stock valued at $418,506,000 after buying an additional 124,432 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on TEAM shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $260.00 price target on shares of Atlassian in a research note on Friday, October 31st. Piper Sandler reiterated an “overweight” rating and issued a $300.00 target price on shares of Atlassian in a report on Friday, October 31st. Cantor Fitzgerald restated an “overweight” rating and set a $240.00 price target on shares of Atlassian in a research note on Friday, October 31st. Wall Street Zen upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Finally, Robert W. Baird set a $230.00 price objective on shares of Atlassian in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $240.00.

Insiders Place Their Bets

In other news, President Anutthara Bharadwaj sold 9,847 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $152.46, for a total value of $1,501,273.62. Following the completion of the transaction, the president directly owned 242,092 shares of the company’s stock, valued at $36,909,346.32. This represents a 3.91% decrease in their ownership of the stock. The transaction 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 stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $171.13, for a total value of $1,311,711.45. Following the sale, the chief executive officer directly owned 168,630 shares of the company’s stock, valued at $28,857,651.90. The trade was a 4.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have bought 4,497 shares of company stock valued at $742,375 and have sold 574,422 shares valued at $93,484,396. Insiders own 36.66% of the company’s stock.

Atlassian Price Performance

TEAM opened at $148.75 on Wednesday. Atlassian Corporation PLC has a 1 year low of $144.32 and a 1 year high of $326.00. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $39.14 billion, a price-to-earnings ratio of -209.50, a P/E/G ratio of 34.63 and a beta of 0.95. The firm’s fifty day moving average price is $160.32 and its two-hundred day moving average price is $182.84.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the firm earned $0.77 earnings per share. The firm’s revenue was up 20.6% on a year-over-year basis. Atlassian has set its FY 2026 guidance at EPS. Q2 2026 guidance at EPS. As a group, analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Atlassian 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.