Pictet Asset Management Holding SA Raises Holdings in Atlassian Co. (NASDAQ:TEAM)

Pictet Asset Management Holding SA increased its stake in Atlassian Co. (NASDAQ:TEAM) by 15.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,373 shares of the technology company’s stock after purchasing an additional 11,960 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Atlassian were worth $21,752,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Murphy & Mullick Capital Management Corp purchased a new position in Atlassian in the fourth quarter valued at about $27,000. True Wealth Design LLC increased its position in shares of Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares in the last quarter. Avion Wealth increased its position in shares of Atlassian by 1,308.3% in the fourth quarter. Avion Wealth now owns 169 shares of the technology company’s stock valued at $41,000 after buying an additional 157 shares in the last quarter. Assetmark Inc. raised its stake in shares of Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after buying an additional 41 shares during the last quarter. Finally, Mainstream Capital Management LLC purchased a new stake in shares of Atlassian in the 4th quarter worth about $49,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Trading Down 2.7 %

Shares of TEAM stock opened at $212.21 on Tuesday. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The firm’s 50 day moving average price is $268.47 and its two-hundred day moving average price is $239.44. The stock has a market cap of $55.60 billion, a price-to-earnings ratio of -158.36 and a beta of 0.91. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

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

Insider Activity at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $259.85, for a total transaction of $394,972.00. Following the completion of the transaction, the president now directly owns 210,471 shares of the company’s stock, valued at $54,690,889.35. This trade represents a 0.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $242.27, for a total transaction of $1,925,561.96. Following the completion of the sale, the chief executive officer now owns 476,880 shares in the company, valued at approximately $115,533,717.60. This trade represents a 1.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 263,033 shares of company stock worth $70,403,022. 38.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on TEAM. KeyCorp raised their target price on shares of Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Mizuho lifted their price objective on Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. The Goldman Sachs Group upped their target price on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Canaccord Genuity Group raised their price target on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, Macquarie upped their price objective on Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $314.73.

Atlassian Company Profile

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.