Atlassian Corporation PLC (NASDAQ:TEAM) Sees Significant Growth in Short Interest

Atlassian Corporation PLC (NASDAQ:TEAM) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 7,492,123 shares, an increase of 25.9% from the December 31st total of 5,952,013 shares. Based on an average daily trading volume, of 3,604,209 shares, the short-interest ratio is currently 2.1 days. Approximately 4.5% of the company’s shares are short sold. Approximately 4.5% of the company’s shares are short sold. Based on an average daily trading volume, of 3,604,209 shares, the short-interest ratio is currently 2.1 days.

Atlassian Stock Performance

Atlassian stock opened at $118.18 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. Atlassian has a one year low of $115.01 and a one year high of $326.00. The stock’s 50 day moving average price is $148.99 and its 200 day moving average price is $161.14. The firm has a market capitalization of $31.09 billion, a PE ratio of -166.45, a price-to-earnings-growth ratio of 18.30 and a beta of 0.88.

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

More Atlassian News

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

In other news, CEO Michael Cannon-Brookes sold 7,665 shares of the company’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $135.44, for a total transaction of $1,038,147.60. Following the completion of the transaction, the chief executive officer owned 321,930 shares of the company’s stock, valued at $43,602,199.20. This represents a 2.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Scott Farquhar sold 7,665 shares of the stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of $135.44, for a total transaction of $1,038,147.60. Following the transaction, the director owned 321,930 shares in the company, valued at approximately $43,602,199.20. The trade was a 2.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 535,719 shares of company stock valued at $80,933,099 in the last 90 days. 36.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On Atlassian

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capco Asset Management LLC acquired a new position in shares of Atlassian in the second quarter worth about $25,000. Physician Wealth Advisors Inc. increased its holdings in Atlassian by 60.4% during the 3rd 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. Geneos Wealth Management Inc. increased its holdings in Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after purchasing an additional 161 shares during the last quarter. Atlantic Union Bankshares Corp boosted its stake in shares of Atlassian by 19,900.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after buying an additional 199 shares during the last quarter. Finally, Board of the Pension Protection Fund acquired a new stake in shares of Atlassian during the fourth quarter worth approximately $32,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Robert W. Baird dropped their price target on Atlassian from $230.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, January 26th. Canaccord Genuity Group reiterated a “buy” rating and set a $230.00 target price on shares of Atlassian in a report on Wednesday, October 22nd. Citigroup cut their price target on shares of Atlassian from $240.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 16th. KeyCorp reduced their price target on shares of Atlassian from $250.00 to $210.00 and set an “overweight” rating on the stock in a research report on Thursday, October 23rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $240.00 price objective on shares of Atlassian in a research report on Friday, October 31st. Twenty investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $227.60.

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.