Bank of New York Mellon Corp Lowers Position in Atlassian Corporation PLC $TEAM

Bank of New York Mellon Corp decreased its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 14.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 893,357 shares of the technology company’s stock after selling 148,521 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.34% of Atlassian worth $142,669,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TEAM. Exane Asset Management bought a new position in shares of Atlassian during the 3rd quarter valued at approximately $963,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Atlassian during the 3rd quarter worth approximately $57,000. Mutual of America Capital Management LLC lifted its holdings in Atlassian by 39.3% during the third quarter. Mutual of America Capital Management LLC now owns 5,681 shares of the technology company’s stock valued at $907,000 after purchasing an additional 1,604 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of Atlassian by 32.8% in the third quarter. Y Intercept Hong Kong Ltd now owns 81,339 shares of the technology company’s stock worth $12,990,000 after purchasing an additional 20,078 shares during the period. Finally, Rakuten Investment Management Inc. purchased a new stake in shares of Atlassian in the third quarter worth $2,014,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TEAM has been the topic of a number of analyst reports. Piper Sandler restated an “overweight” rating on shares of Atlassian in a research note on Tuesday, January 13th. UBS Group set a $145.00 price objective on Atlassian in a research report on Tuesday. Sanford C. Bernstein upped their price objective on Atlassian from $290.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 18th. Citigroup lowered their price target on Atlassian from $240.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 16th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $240.00 price target on shares of Atlassian in a research note on Friday, October 31st. Twenty 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 data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and an average 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.

Insiders Place Their Bets

In other news, President Anutthara Bharadwaj sold 9,847 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $152.46, for a total transaction of $1,501,273.62. Following the sale, the president directly owned 242,092 shares in the company, valued at approximately $36,909,346.32. This represents a 3.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Scott Farquhar sold 7,665 shares of the stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $153.77, for a total transaction of $1,178,647.05. Following the completion of the transaction, the director directly owned 237,615 shares of the company’s stock, valued at approximately $36,538,058.55. The trade was a 3.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 551,049 shares of company stock valued at $83,581,893 in the last three months. Corporate insiders own 36.66% of the company’s stock.

Atlassian Stock Down 1.8%

Shares of 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. The stock has a market capitalization of $31.09 billion, a price-to-earnings ratio of -166.45, a price-to-earnings-growth ratio of 18.64 and a beta of 0.88. Atlassian Corporation PLC has a 1 year low of $115.01 and a 1 year high of $326.00. The business’s 50 day simple moving average is $148.99 and its 200-day simple moving average is $161.34.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.21. The company 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%. Atlassian’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.77 earnings per share. As a group, equities analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Atlassian 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.