Pictet Asset Management Holding SA Increases Stock Holdings in Atlassian Corporation PLC $TEAM

Pictet Asset Management Holding SA increased its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 27.4% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 5,031,413 shares of the technology company’s stock after acquiring an additional 1,080,561 shares during the period. Pictet Asset Management Holding SA owned approximately 1.91% of Atlassian worth $343,344,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. OFI Invest Asset Management boosted its position in Atlassian by 16.3% in the 4th quarter. OFI Invest Asset Management now owns 254,551 shares of the technology company’s stock valued at $41,273,000 after buying an additional 35,682 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Atlassian by 3.9% during the fourth quarter. Baillie Gifford & Co. now owns 8,431,802 shares of the technology company’s stock worth $1,367,132,000 after acquiring an additional 316,276 shares during the last quarter. Exane Asset Management increased its position in shares of Atlassian by 419.9% during the fourth quarter. Exane Asset Management now owns 31,363 shares of the technology company’s stock worth $5,085,000 after acquiring an additional 25,330 shares during the last quarter. Nicholas Company Inc. increased its position in shares of Atlassian by 8.7% during the fourth quarter. Nicholas Company Inc. now owns 306,819 shares of the technology company’s stock worth $49,748,000 after acquiring an additional 24,490 shares during the last quarter. Finally, Fisher Funds Management LTD lifted its stake in shares of Atlassian by 11.1% in the fourth quarter. Fisher Funds Management LTD now owns 334,011 shares of the technology company’s stock worth $54,440,000 after acquiring an additional 33,485 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Activity at Atlassian

In related news, CFO James Chuong sold 8,838 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total transaction of $775,534.50. Following the transaction, the chief financial officer directly owned 288,272 shares in the company, valued at $25,295,868. This trade represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 3,000 shares of Atlassian stock in a transaction on Friday, June 12th. The stock was sold at an average price of $89.71, for a total transaction of $269,130.00. Following the completion of the transaction, the executive directly owned 227,691 shares of the company’s stock, valued at approximately $20,426,159.61. This represents a 1.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 20,041 shares of company stock worth $1,801,069. Corporate insiders own 36.66% of the company’s stock.

Atlassian Stock Up 5.4%

Shares of Atlassian stock opened at $78.74 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13. The firm has a market cap of $19.98 billion, a P/E ratio of -94.87, a P/E/G ratio of 4.46 and a beta of 1.07. Atlassian Corporation PLC has a fifty-two week low of $56.01 and a fifty-two week high of $222.59. The business has a 50-day moving average price of $85.24 and a 200 day moving average price of $99.72.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.42. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.Atlassian’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.97 earnings per share. On average, sell-side analysts forecast that Atlassian Corporation PLC will post 0.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TEAM shares. Canaccord Genuity Group reduced their price target on Atlassian from $185.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, April 15th. Mizuho dropped their price objective on Atlassian from $185.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday, April 14th. Barclays upped their target price on Atlassian from $106.00 to $112.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. BNP Paribas Exane assumed coverage on Atlassian in a research note on Monday, March 16th. They set an “outperform” rating and a $95.00 target price for the company. Finally, TD Cowen raised their price target on shares of Atlassian from $85.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $145.26.

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.