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

Pictet Asset Management Holding SA grew its position in Atlassian Co. (NASDAQ:TEAM) by 15.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,373 shares of the technology company’s stock after buying an additional 11,960 shares during the period. Pictet Asset Management Holding SA’s holdings in Atlassian were worth $21,752,000 as of its most recent SEC filing.

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

Atlassian Stock Down 2.7 %

Shares of NASDAQ:TEAM opened at $212.21 on Tuesday. The firm has a 50 day simple moving average of $268.47 and a 200-day simple moving average of $239.44. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $55.60 billion, a PE ratio of -158.36 and a beta of 0.91.

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 net margin of 7.22% and a negative return on equity of 17.37%. On average, equities analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TEAM. Mizuho boosted their price target on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Truist Financial cut their target price on Atlassian from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Monday. Citigroup upped their price target on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Morgan Stanley lifted their price objective on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company increased their target price on Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and a consensus target price of $314.73.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 1,723 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $305.84, for a total transaction of $526,962.32. Following the completion of the sale, the president now directly owns 199,934 shares of the company’s stock, valued at approximately $61,147,814.56. This trade represents a 0.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $216.63, for a total value of $1,721,775.24. Following the completion of the transaction, the chief executive officer now owns 7,948 shares in the company, valued at $1,721,775.24. This trade represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 263,033 shares of company stock worth $70,403,022 in the last quarter. 38.55% of the stock is owned by insiders.

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.