Pictet Asset Management SA Acquires Shares of 1,204 Atlassian Co. Plc (NASDAQ:TEAM)

Pictet Asset Management SA acquired a new stake in Atlassian Co. Plc (NASDAQ:TEAMGet Rating) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,204 shares of the technology company’s stock, valued at approximately $226,000.

Several other large investors also recently added to or reduced their stakes in the stock. SeaCrest Wealth Management LLC purchased a new stake in Atlassian in the 2nd quarter valued at about $54,000. Lazard Asset Management LLC lifted its position in shares of Atlassian by 227.0% in the 2nd quarter. Lazard Asset Management LLC now owns 7,703 shares of the technology company’s stock worth $1,442,000 after purchasing an additional 5,347 shares during the period. Leelyn Smith LLC purchased a new stake in shares of Atlassian in the 2nd quarter worth approximately $620,000. Summit Trail Advisors LLC lifted its position in shares of Atlassian by 8.7% in the 2nd quarter. Summit Trail Advisors LLC now owns 2,576 shares of the technology company’s stock worth $483,000 after purchasing an additional 207 shares during the period. Finally, Baird Financial Group Inc. lifted its position in shares of Atlassian by 3.3% in the 2nd quarter. Baird Financial Group Inc. now owns 119,834 shares of the technology company’s stock worth $22,457,000 after purchasing an additional 3,867 shares during the period. 87.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Michael Cannon-Brookes sold 8,614 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $237.95, for a total transaction of $2,049,701.30. Following the completion of the sale, the chief executive officer now directly owns 516,840 shares in the company, valued at $122,982,078. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Michael Cannon-Brookes sold 8,614 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $237.95, for a total transaction of $2,049,701.30. Following the completion of the sale, the chief executive officer now directly owns 516,840 shares in the company, valued at $122,982,078. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Cameron Deatsch sold 2,011 shares of Atlassian stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $134.92, for a total transaction of $271,324.12. Following the sale, the executive now owns 134,740 shares of the company’s stock, valued at $18,179,120.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 188,317 shares of company stock worth $32,283,872. Insiders own 43.11% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TEAM. Macquarie cut shares of Atlassian from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $287.00 to $147.00 in a research report on Friday, November 4th. Morgan Stanley reduced their price objective on shares of Atlassian from $375.00 to $190.00 and set an “overweight” rating for the company in a research note on Friday, November 11th. Piper Sandler lowered shares of Atlassian from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $283.00 to $148.00 in a research note on Friday, November 4th. The Goldman Sachs Group reduced their price objective on shares of Atlassian from $300.00 to $265.00 and set a “buy” rating for the company in a research note on Friday, November 4th. Finally, StockNews.com initiated coverage on shares of Atlassian in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $249.00.

Atlassian Stock Performance

NASDAQ:TEAM opened at $124.50 on Thursday. The company’s 50-day moving average price is $187.80 and its 200-day moving average price is $203.94. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 2.08. The company has a market cap of $31.81 billion, a P/E ratio of -139.89 and a beta of 0.91. Atlassian Co. Plc has a twelve month low of $113.86 and a twelve month high of $404.68.

Atlassian (NASDAQ:TEAMGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.46. Atlassian had a negative net margin of 7.60% and a negative return on equity of 71.10%. The firm had revenue of $807.39 million during the quarter, compared to analysts’ expectations of $806.42 million. During the same period last year, the business earned ($0.01) earnings per share. Atlassian’s revenue was up 31.5% compared to the same quarter last year. On average, sell-side analysts forecast that Atlassian Co. Plc will post -0.9 earnings per share for the current fiscal year.

Atlassian Company Profile

(Get Rating)

Atlassian Corporation Plc, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.

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Institutional Ownership by Quarter for Atlassian (NASDAQ:TEAM)

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