Atlassian Corporation PLC $TEAM Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA cut its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 16.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 4,590,967 shares of the technology company’s stock after selling 883,110 shares during the period. Atlassian accounts for about 0.8% of Pictet Asset Management Holding SA’s holdings, making the stock its 22nd biggest position. Pictet Asset Management Holding SA owned 1.81% of Atlassian worth $822,918,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Fortitude Family Office LLC boosted its holdings in shares of Atlassian by 23.0% during the third quarter. Fortitude Family Office LLC now owns 289 shares of the technology company’s stock worth $52,000 after purchasing an additional 54 shares during the last quarter. Activest Wealth Management grew its position in shares of Atlassian by 372.4% in the third quarter. Activest Wealth Management now owns 137 shares of the technology company’s stock valued at $25,000 after purchasing an additional 108 shares during the period. Parallel Advisors LLC increased its stake in Atlassian by 3.0% in the third quarter. Parallel Advisors LLC now owns 3,851 shares of the technology company’s stock valued at $690,000 after purchasing an additional 112 shares during the last quarter. Greenleaf Trust increased its stake in Atlassian by 3.7% in the third quarter. Greenleaf Trust now owns 3,225 shares of the technology company’s stock valued at $578,000 after purchasing an additional 114 shares during the last quarter. Finally, Frank Rimerman Advisors LLC increased its stake in Atlassian by 3.7% in the third quarter. Frank Rimerman Advisors LLC now owns 3,228 shares of the technology company’s stock valued at $579,000 after purchasing an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Trading Down 16.2%

TEAM stock opened at $153.68 on Friday. The company has a market cap of $38.90 billion, a price-to-earnings ratio of 426.90, a PEG ratio of 16.39 and a beta of 1.16. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.93. The business has a fifty day simple moving average of $196.05 and a 200-day simple moving average of $119.57. Atlassian Corporation PLC has a 52 week low of $56.01 and a 52 week high of $229.96.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, November 5th. The technology company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.26. Atlassian had a return on equity of 31.64% and a net margin of 1.28%. The firm had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the firm earned $1.04 earnings per share. The firm’s revenue for the quarter was up 23.7% compared to the same quarter last year. On average, equities research analysts expect that Atlassian Corporation PLC will post 0.66 EPS for the current year.

Insiders Place Their Bets

In other news, CRO Brian Duffy sold 1,851 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total value of $319,204.95. Following the transaction, the executive directly owned 218,223 shares in the company, valued at $37,632,556.35. This trade represents a 0.84% decrease in their position. The transaction 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, CFO James Chuong sold 9,054 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total value of $1,561,362.30. Following the completion of the transaction, the chief financial officer owned 279,218 shares in the company, valued at approximately $48,151,144.10. This trade represents a 3.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 22,475 shares of company stock worth $3,822,643 over the last three months. 37.63% of the stock is owned by insiders.

Atlassian News Summary

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Fiscal Q1 revenue rose 23.7% year over year to $1.77 billion, while adjusted EPS of $1.65 topped the $1.39 consensus. Cloud revenue grew 30.5%, and the company reported stronger margins and free cash flow. Atlassian Q1 results
• Positive Sentiment: AI-related adoption showed momentum: Teamwork Collection customers grew sevenfold year over year, and remaining performance obligations increased 44%. Atlassian also guided to $7.5 billion in FY2027 revenue, above the $7.4 billion consensus. Q1 earnings call highlights
• Positive Sentiment: Piper Sandler raised its price target to $190 and kept an “overweight” rating, signaling continued optimism despite the post-earnings concerns. Piper Sandler target update
• Negative Sentiment: The main concern is deceleration: Atlassian expects next-quarter cloud growth of 27%, below Q1’s 30.5%, and increased its full-year cloud growth outlook only modestly, from 25.5% to 26%. Management cited timing-related Data Center revenue effects, dampening the impact of the quarterly beat. Cloud growth outlook
• Negative Sentiment: Several firms cut price targets, including Truist ($250 to $200), Wells Fargo ($270 to $200), and Oppenheimer ($275 to $240), though they maintained positive ratings. These reductions underscore investor concerns about growth expectations after the results. Truist rating update

Analyst Ratings Changes

A number of analysts have issued reports on TEAM shares. BTIG Research decreased their price target on Atlassian from $260.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday. Robert W. Baird upped their price objective on shares of Atlassian from $200.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, September 28th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Atlassian in a report on Thursday, October 15th. Truist Financial reiterated a “buy” rating and set a $200.00 price objective (down from $250.00) on shares of Atlassian in a report on Friday. Finally, TD Cowen raised their target price on shares of Atlassian from $145.00 to $180.00 and gave the stock a “hold” rating in a research report on Tuesday. Twenty-four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $210.96.

Atlassian Company Profile

Atlassian Corporation develops collaboration and productivity software for software, IT and business teams. Its products help organizations plan and track work, manage software development and support services, and share information across teams.

Its product portfolio includes Jira for project and issue tracking, Confluence for team documentation and collaboration, Jira Service Management for IT and other service teams, Trello for visual work management, and Bitbucket for code collaboration.