Sei Investments Co. Buys 1,025 Shares of Atlassian Co. (NASDAQ:TEAM)

Sei Investments Co. raised its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 0.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 543,285 shares of the technology company’s stock after acquiring an additional 1,025 shares during the period. Sei Investments Co.’s holdings in Atlassian were worth $132,224,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Avion Wealth lifted its stake in shares of Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after purchasing an additional 157 shares during the period. Assetmark Inc. lifted its stake in shares of Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after purchasing an additional 41 shares during the period. Mainstream Capital Management LLC bought a new position in shares of Atlassian in the 4th quarter worth approximately $49,000. True Wealth Design LLC lifted its stake in shares of Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after purchasing an additional 231 shares during the period. Finally, Kestra Investment Management LLC bought a new position in shares of Atlassian in the 4th quarter worth approximately $56,000. Institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling

In related news, President Anutthara Bharadwaj sold 1,520 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the completion of the sale, the president now directly owns 210,471 shares in the company, valued at $54,690,889.35. This trade represents a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $226.93, for a total value of $1,803,639.64. Following the completion of the sale, the chief executive officer now owns 55,636 shares of the company’s stock, valued at approximately $12,625,477.48. This represents a 12.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,033 shares of company stock worth $71,015,177 over the last three months. 38.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald increased their price objective on shares of Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. William Blair reissued an “outperform” rating on shares of Atlassian in a report on Friday, January 31st. Mizuho increased their target price on shares of Atlassian from $285.00 to $355.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Morgan Stanley increased their target price on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Macquarie increased their target price on shares of Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Nine investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and a consensus price target of $316.77.

Atlassian Stock Up 0.5 %

NASDAQ TEAM opened at $227.34 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $59.56 billion, a P/E ratio of -169.66 and a beta of 0.91. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The stock has a 50 day moving average price of $271.24 and a 200-day moving average price of $235.79.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (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 fiscal year.

About Atlassian

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.