Atlassian Co. (NASDAQ:TEAM) Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 15.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,373 shares of the technology company's stock after buying an additional 11,960 shares during the quarter. Pictet Asset Management Holding SA's holdings in Atlassian were worth $21,752,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Murphy & Mullick Capital Management Corp purchased a new stake in Atlassian in the 4th quarter valued at $27,000. True Wealth Design LLC boosted its stake in shares of Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company's stock worth $37,000 after buying an additional 231 shares during the period. Avion Wealth increased its position in Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company's stock valued at $41,000 after acquiring an additional 157 shares during the period. Assetmark Inc. lifted its position in Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock worth $43,000 after acquiring an additional 41 shares during the period. Finally, Mainstream Capital Management LLC purchased a new position in Atlassian during the 4th quarter worth $49,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on TEAM. William Blair restated an "outperform" rating on shares of Atlassian in a research report on Friday, January 31st. Canaccord Genuity Group increased their price target on shares of Atlassian from $255.00 to $285.00 and gave the company a "buy" rating in a report on Friday, December 20th. Morgan Stanley lifted their price target on shares of Atlassian from $315.00 to $370.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Citigroup increased their price target on shares of Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Finally, Wells Fargo & Company raised their price target on Atlassian from $350.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Atlassian has an average rating of "Moderate Buy" and a consensus target price of $308.73.

Remove Ads

Atlassian Trading Down 11.4 %

TEAM stock traded down $25.61 during midday trading on Thursday, reaching $198.35. 3,316,598 shares of the company's stock traded hands, compared to its average volume of 1,991,729. The business has a 50-day moving average price of $266.94 and a two-hundred day moving average price of $239.70. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market capitalization of $51.97 billion, a P/E ratio of -148.02 and a beta of 1.07.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly 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 net margin of 7.22% and a negative return on equity of 17.37%. Equities research analysts forecast that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, President Anutthara Bharadwaj sold 1,520 shares of the business's stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the transaction, the president now owns 210,471 shares in the company, valued at approximately $54,690,889.35. The trade was a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $209.73, for a total value of $1,666,934.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 263,033 shares of company stock valued at $70,144,394. Corporate insiders own 38.55% of the company's stock.

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.