OVERSEA CHINESE BANKING Corp Ltd Cuts Stock Position in Atlassian Corporation PLC $TEAM

OVERSEA CHINESE BANKING Corp Ltd lowered its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 87.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,351 shares of the technology company’s stock after selling 15,901 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Atlassian were worth $477,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TEAM. Nuveen LLC purchased a new stake in shares of Atlassian in the 1st quarter worth approximately $327,665,000. AQR Capital Management LLC grew its stake in shares of Atlassian by 145.6% in the 1st quarter. AQR Capital Management LLC now owns 1,715,287 shares of the technology company’s stock worth $354,858,000 after buying an additional 1,016,902 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Atlassian by 21.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,440,813 shares of the technology company’s stock valued at $730,175,000 after acquiring an additional 616,071 shares in the last quarter. Vanguard Group Inc. lifted its position in Atlassian by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 16,993,537 shares of the technology company’s stock valued at $3,606,198,000 after acquiring an additional 580,583 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its position in Atlassian by 7.1% in the 1st quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company’s stock valued at $1,845,114,000 after acquiring an additional 573,696 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling

In related news, Director Scott Farquhar sold 7,665 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $171.03, for a total value of $1,310,944.95. Following the transaction, the director directly owned 275,940 shares of the company’s stock, valued at approximately $47,194,018.20. This trade represents a 2.70% 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, President Anutthara Bharadwaj sold 7,728 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $163.43, for a total value of $1,262,987.04. Following the completion of the transaction, the president directly owned 182,801 shares in the company, valued at approximately $29,875,167.43. This represents a 4.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 551,608 shares of company stock valued at $92,116,058. 36.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TEAM. Citigroup reaffirmed a “buy” rating on shares of Atlassian in a research report on Wednesday, October 22nd. Mizuho lowered their price objective on Atlassian from $265.00 to $235.00 and set an “outperform” rating on the stock in a research report on Friday, August 8th. Stephens lowered their price objective on Atlassian from $221.00 to $202.00 and set an “equal weight” rating on the stock in a research report on Monday, August 11th. BMO Capital Markets lowered their price objective on Atlassian from $200.00 to $190.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, KeyCorp lowered their price objective on Atlassian from $250.00 to $210.00 and set an “overweight” rating on the stock in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and a consensus price target of $243.58.

Atlassian Price Performance

NASDAQ TEAM opened at $164.26 on Tuesday. The business’s fifty day moving average price is $164.39 and its 200-day moving average price is $188.93. The stock has a market capitalization of $43.09 billion, a price-to-earnings ratio of -165.92 and a beta of 0.92. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.22. Atlassian Corporation PLC has a 1-year low of $144.32 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.15. Atlassian had a negative return on equity of 14.77% and a negative net margin of 4.92%.The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the firm earned $0.66 EPS. The company’s revenue was up 22.3% compared to the same quarter last year. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. On average, equities analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current 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.