Picton Mahoney Asset Management Sells 237,043 Shares of Atlassian Co. (NASDAQ:TEAM)

Picton Mahoney Asset Management cut its holdings in Atlassian Co. (NASDAQ:TEAM) by 79.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,449 shares of the technology company’s stock after selling 237,043 shares during the quarter. Picton Mahoney Asset Management’s holdings in Atlassian were worth $15,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. State Street Corp grew its stake in shares of Atlassian by 0.3% in the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock worth $565,424,000 after purchasing an additional 8,957 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Atlassian by 5.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock valued at $393,588,000 after acquiring an additional 131,621 shares in the last quarter. FMR LLC boosted its position in Atlassian by 7.4% during the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock valued at $346,679,000 after acquiring an additional 150,237 shares in the last quarter. Geode Capital Management LLC boosted its position in Atlassian by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock valued at $340,453,000 after acquiring an additional 57,911 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Atlassian by 5.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,210,351 shares of the technology company’s stock valued at $192,216,000 after acquiring an additional 58,536 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on TEAM. Canaccord Genuity Group lifted their price objective on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, December 20th. StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a research report on Wednesday. Barclays lifted their price objective on Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. UBS Group boosted their price target on Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, JMP Securities reissued a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and a consensus target price of $319.71.

Atlassian Price Performance

Shares of TEAM opened at $218.44 on Friday. The firm has a market cap of $57.23 billion, a PE ratio of -163.01 and a beta of 0.91. 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 firm has a fifty day simple moving average of $273.44 and a two-hundred day simple moving average of $233.71. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM) last announced its 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 anticipate that Atlassian Co. will post -0.34 EPS for the current year.

Insider Transactions at Atlassian

In other news, CEO Michael Cannon-Brookes sold 15,896 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $243.55, for a total value of $3,871,470.80. Following the completion of the sale, the chief executive officer now directly owns 429,192 shares in the company, valued at $104,529,711.60. This represents a 3.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $258.33, for a total value of $2,053,206.84. Following the completion of the sale, the director now owns 63,584 shares of the company’s stock, valued at $16,425,654.72. This trade represents a 11.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 272,501 shares of company stock worth $74,167,124 in the last three months. Corporate insiders own 38.55% of the company’s stock.

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.