Sei Investments Co. Boosts Holdings in Atlassian Co. (NASDAQ:TEAM)

Sei Investments Co. grew its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 543,285 shares of the technology company’s stock after acquiring an additional 1,025 shares during the quarter. Sei Investments Co. owned 0.21% of Atlassian worth $132,224,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in shares of Atlassian during the third quarter worth approximately $606,000. Fulton Bank N.A. purchased a new position in shares of Atlassian during the fourth quarter worth approximately $447,000. Paloma Partners Management Co purchased a new position in shares of Atlassian during the third quarter worth approximately $1,588,000. Allworth Financial LP raised its stake in shares of Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock worth $404,000 after acquiring an additional 47 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Atlassian by 2.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 583,579 shares of the technology company’s stock worth $92,678,000 after acquiring an additional 12,422 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Atlassian Stock Up 0.5 %

NASDAQ:TEAM opened at $227.34 on Friday. The firm’s 50-day moving average price is $271.24 and its 200-day moving average price is $235.79. The company has a market capitalization of $59.56 billion, a PE ratio of -169.66 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM) last released 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 return on equity of 17.37% and a negative net margin of 7.22%. On average, equities analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

TEAM has been the topic of several recent analyst reports. Citigroup raised their target price on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, January 17th. UBS Group raised their target price on shares of Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Truist Financial restated a “buy” rating and issued a $350.00 target price (up previously from $300.00) on shares of Atlassian in a report on Friday, January 31st. Wells Fargo & Company raised their target price on shares of Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, StockNews.com upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and an average price target of $316.77.

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 1,723 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $305.84, for a total transaction of $526,962.32. Following the transaction, the president now owns 199,934 shares in the company, valued at approximately $61,147,814.56. This represents a 0.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $255.25, for a total transaction of $2,028,727.00. Following the transaction, the chief executive officer now owns 31,792 shares in the company, valued at $8,114,908. This represents a 20.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 263,033 shares of company stock worth $71,015,177 in the last quarter. Corporate insiders own 38.55% of the company’s stock.

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.