Atlassian Corporation PLC $TEAM Stock: Pictet Asset Management Holding SA Lowers Holdings

Pictet Asset Management Holding SA cut its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 16.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,590,967 shares of the technology company’s stock after selling 883,110 shares during the quarter. Atlassian comprises about 0.8% of Pictet Asset Management Holding SA’s investment portfolio, making the stock its 22nd biggest position. Pictet Asset Management Holding SA’s holdings in Atlassian were worth $822,918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TEAM shares. Citigroup lifted their target price on Atlassian from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, October 20th. Bank of America raised their price target on Atlassian from $175.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, August 31st. Jefferies Financial Group reduced their price objective on Atlassian from $245.00 to $190.00 and set a “buy” rating for the company in a research report on Friday. UBS Group reaffirmed a “buy” rating on shares of Atlassian in a research report on Friday. Finally, Piper Sandler raised their target price on Atlassian from $175.00 to $190.00 and gave the company an “overweight” rating in a research note on Friday. Twenty-four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $210.96.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $153.68 on Friday. The firm’s 50 day moving average is $196.05 and its two-hundred day moving average is $119.57. Atlassian Corporation PLC has a 52 week low of $56.01 and a 52 week high of $229.96. The firm has a market capitalization of $38.90 billion, a P/E ratio of 426.90, a PEG ratio of 16.39 and a beta of 1.16. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.93.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, November 5th. The technology company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.26. Atlassian had a return on equity of 31.64% and a net margin of 1.28%. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the firm posted $1.04 earnings per share. The business’s revenue was up 23.7% on a year-over-year basis. Analysts anticipate that Atlassian Corporation PLC will post 0.66 earnings per share for the current year.

Key Atlassian News

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

Insider Buying and Selling at Atlassian

In other news, CRO Brian Duffy sold 1,851 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total value of $319,204.95. Following the completion of the transaction, the executive owned 218,223 shares of the company’s stock, valued at approximately $37,632,556.35. This represents a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 on Wednesday, August 19th. The shares were sold at an average price of $172.45, for a total value of $1,561,362.30. Following the transaction, the chief financial officer directly owned 279,218 shares in the company, valued at $48,151,144.10. This trade represents a 3.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 22,475 shares of company stock valued at $3,822,643 in the last quarter. Corporate insiders own 37.63% of the company’s stock.

Atlassian 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.