Sei Investments Co. Boosts Stock Holdings in Atlassian Corporation PLC $TEAM

Sei Investments Co. grew its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 30.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,740 shares of the technology company’s stock after acquiring an additional 20,907 shares during the quarter. Sei Investments Co.’s holdings in Atlassian were worth $6,125,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. MV Capital Management Inc. bought a new position in Atlassian in the fourth quarter worth about $25,000. Geneos Wealth Management Inc. boosted its holdings in shares of Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after buying an additional 161 shares in the last quarter. Basepoint Wealth LLC bought a new stake in shares of Atlassian in the 4th quarter valued at about $32,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Atlassian in the 4th quarter worth approximately $32,000. Finally, Bogart Wealth LLC raised its stake in shares of Atlassian by 76.4% during the 4th quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock worth $35,000 after acquiring an additional 94 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TEAM. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $126.00 price target on shares of Atlassian in a research report on Monday. Zacks Research downgraded Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Guggenheim set a $115.00 target price on Atlassian in a research report on Thursday, April 9th. Morgan Stanley decreased their price target on Atlassian from $290.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, April 16th. Finally, BMO Capital Markets lowered their price target on Atlassian from $105.00 to $95.00 and set an “outperform” rating for the company in a report on Thursday, June 25th. Twenty-one analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $139.23.

Atlassian Price Performance

Shares of TEAM opened at $103.71 on Tuesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. The company’s fifty day moving average price is $90.85 and its 200-day moving average price is $86.80. Atlassian Corporation PLC has a 1-year low of $56.01 and a 1-year high of $189.69. The firm has a market capitalization of $26.32 billion, a PE ratio of -124.95, a price-to-earnings-growth ratio of 7.17 and a beta of 1.05.

Insider Activity

In other news, CFO James Chuong sold 8,838 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total value of $775,534.50. Following the transaction, the chief financial officer directly owned 288,272 shares of the company’s stock, valued at approximately $25,295,868. This represents a 2.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 3,000 shares of Atlassian stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $89.71, for a total value of $269,130.00. Following the sale, the executive directly owned 227,691 shares of the company’s stock, valued at $20,426,159.61. This trade represents a 1.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 20,041 shares of company stock worth $1,801,069. Company insiders own 36.66% of the company’s stock.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.