Rep. Robert Bresnahan, Jr. Purchases Shares of Atlassian Co. (NASDAQ:TEAM)

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of Atlassian Co. (NASDAQ:TEAM). In a filing disclosed on February 13th, the Representative disclosed that they had bought between $1,001 and $15,000 in Atlassian stock on January 28th. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT #2” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of Lowe’s Companies (NYSE:LOW) on 2/7/2025.
• Purchased $1,001 – $15,000 in shares of ServiceNow (NYSE:NOW) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Take-Two Interactive Software (NASDAQ:TTWO) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 2/3/2025.
• Purchased $1,001 – $15,000 in shares of Alibaba Group (NYSE:BABA) on 1/30/2025.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 1/30/2025.
• Sold $1,001 – $15,000 in shares of Robinhood Markets (NASDAQ:HOOD) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of NVIDIA (NASDAQ:NVDA) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Manhattan Associates (NASDAQ:MANH) on 1/29/2025.
• Sold $1,001 – $15,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 1/29/2025.

Atlassian Stock Performance

NASDAQ:TEAM traded down $2.90 during mid-day trading on Friday, hitting $313.10. The company’s stock had a trading volume of 2,882,414 shares, compared to its average volume of 2,088,136. The business’s fifty day moving average is $269.40 and its two-hundred day moving average is $216.86. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.18. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The stock has a market cap of $82.03 billion, a price-to-earnings ratio of -233.65 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Analysts anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Atlassian

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Atlassian during the 4th quarter worth $4,606,000. Keel Point LLC purchased a new stake in shares of Atlassian during the 4th quarter worth $221,000. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Atlassian by 6.8% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 35,449 shares of the technology company’s stock worth $8,628,000 after purchasing an additional 2,253 shares during the last quarter. Freestone Grove Partners LP purchased a new stake in shares of Atlassian during the 4th quarter worth $10,805,000. Finally, Comerica Bank lifted its position in shares of Atlassian by 14.5% during the 4th quarter. Comerica Bank now owns 31,728 shares of the technology company’s stock worth $7,722,000 after purchasing an additional 4,027 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Transactions at Atlassian

In related news, CEO Michael Cannon-Brookes sold 15,896 shares of Atlassian stock in a transaction on Friday, January 10th. The shares were sold at an average price of $243.55, for a total transaction of $3,871,470.80. Following the sale, the chief executive officer now directly owns 429,192 shares in the company, valued at $104,529,711.60. This trade represents a 3.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Anutthara Bharadwaj sold 1,659 shares of Atlassian stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total transaction of $407,798.79. Following the sale, the president now owns 213,511 shares in the company, valued at $52,483,138.91. This represents a 0.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 285,224 shares of company stock valued at $76,899,985. Insiders own 38.55% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on TEAM. Jefferies Financial Group increased their price objective on shares of Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday, January 24th. William Blair reiterated an “outperform” rating on shares of Atlassian in a report on Friday, January 31st. Mizuho increased their price objective on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Macquarie increased their price objective on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, Canaccord Genuity Group increased their price objective on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 20th. Nine investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $319.71.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

About Atlassian

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.