Segment Wealth Management LLC Sells 1,615 Shares of Atlassian Co. (NASDAQ:TEAM)

Segment Wealth Management LLC lowered its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 40.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,370 shares of the technology company’s stock after selling 1,615 shares during the quarter. Segment Wealth Management LLC’s holdings in Atlassian were worth $376,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. grew its holdings in shares of Atlassian by 1.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock worth $721,000 after purchasing an additional 55 shares in the last quarter. Financial Advocates Investment Management lifted its position in Atlassian by 1.7% during the second quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after purchasing an additional 62 shares during the period. Ameritas Investment Partners Inc. grew its stake in Atlassian by 1.4% during the first quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock worth $890,000 after buying an additional 65 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Atlassian by 0.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 19,544 shares of the technology company’s stock valued at $3,813,000 after buying an additional 72 shares during the period. Finally, SkyView Investment Advisors LLC raised its position in shares of Atlassian by 2.1% in the 1st quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company’s stock valued at $775,000 after buying an additional 80 shares in the last quarter. Institutional investors own 93.03% of the company’s stock.

Insider Activity at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $193.70, for a total transaction of $1,539,527.60. Following the completion of the sale, the chief executive officer now directly owns 429,192 shares in the company, valued at approximately $83,134,490.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Atlassian news, CTO Rajeev Bashyam Rajan sold 199 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of the sale, the chief technology officer now directly owns 128,957 shares in the company, valued at approximately $18,838,038.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $193.70, for a total transaction of $1,539,527.60. Following the transaction, the chief executive officer now owns 429,192 shares in the company, valued at $83,134,490.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 230,185 shares of company stock worth $38,511,079 over the last quarter. Company insiders own 40.48% of the company’s stock.

Atlassian Trading Down 2.6 %

Shares of TEAM stock opened at $188.76 on Thursday. The stock has a 50-day moving average of $167.87 and a 200-day moving average of $171.66. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The stock has a market cap of $49.08 billion, a price-to-earnings ratio of -162.72 and a beta of 0.73. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the business earned ($0.21) EPS. The company’s revenue was up 20.5% compared to the same quarter last year. On average, equities research analysts forecast that Atlassian Co. will post -0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TEAM. Mizuho lifted their price objective on shares of Atlassian from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Canaccord Genuity Group lifted their price target on Atlassian from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. BMO Capital Markets dropped their price objective on Atlassian from $220.00 to $177.00 and set a “market perform” rating for the company in a research report on Friday, August 2nd. Scotiabank decreased their target price on Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Finally, Raymond James upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a research note on Tuesday, October 1st. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $212.47.

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.