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

Picton Mahoney Asset Management lowered its position in Atlassian Co. (NASDAQ:TEAM) by 79.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 62,449 shares of the technology company’s stock after selling 237,043 shares during the period. Picton Mahoney Asset Management’s holdings in Atlassian were worth $15,199,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Sienna Gestion bought a new position in shares of Atlassian during the 4th quarter valued at about $4,298,000. LBP AM SA bought a new position in shares of Atlassian during the 4th quarter valued at about $1,638,000. Parnassus Investments LLC boosted its holdings in shares of Atlassian by 1.3% during the 4th quarter. Parnassus Investments LLC now owns 325,367 shares of the technology company’s stock valued at $79,188,000 after purchasing an additional 4,127 shares during the last quarter. Erste Asset Management GmbH boosted its holdings in shares of Atlassian by 16.7% during the 4th quarter. Erste Asset Management GmbH now owns 70,000 shares of the technology company’s stock valued at $17,297,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Telemark Asset Management LLC bought a new position in shares of Atlassian during the 4th quarter valued at about $9,735,000. Institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the subject of several research reports. Scotiabank increased their price objective on shares of Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a report on Friday, January 31st. Citigroup upped their target price on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, January 17th. BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and upped their target price for the company from $255.00 to $292.00 in a research report on Friday, January 10th. JMP Securities restated a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. Finally, Jefferies Financial Group upped their target price on shares of Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

Insider Activity

In other Atlassian news, Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were 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 directly owns 63,584 shares in the company, valued at $16,425,654.72. This trade represents a 11.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $254.76, for a total transaction of $387,235.20. Following the completion of the sale, the president now owns 211,991 shares of the company’s stock, valued at approximately $54,006,827.16. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 272,501 shares of company stock worth $74,167,124. Corporate insiders own 38.55% of the company’s stock.

Atlassian Stock Performance

Shares of NASDAQ: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 firm’s 50 day simple moving average is $273.44 and its 200-day simple moving average is $233.71. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. As a group, equities analysts predict that Atlassian Co. will post -0.34 EPS for the current year.

Atlassian 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.