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

Sei Investments Co. reduced its position in shares of Atlassian Co. (NASDAQ:TEAM) by 22.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 954,520 shares of the technology company’s stock after selling 278,794 shares during the quarter. Sei Investments Co. owned about 0.37% of Atlassian worth $168,836,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Asset Dedication LLC grew its holdings in Atlassian by 229.8% during the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after acquiring an additional 108 shares in the last quarter. Hollencrest Capital Management boosted its stake in shares of Atlassian by 383.9% during the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after purchasing an additional 119 shares in the last quarter. Trust Co. of Vermont increased its holdings in Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after buying an additional 174 shares during the period. Rothschild Investment LLC bought a new position in Atlassian in the second quarter worth approximately $36,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in Atlassian during the first quarter worth $40,000. 93.03% of the stock is owned by institutional investors.

Atlassian Trading Down 0.0 %

NASDAQ TEAM opened at $163.08 on Friday. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market capitalization of $42.41 billion, a PE ratio of -258.86 and a beta of 0.73. The company has a fifty day moving average of $161.99 and a 200 day moving average of $175.54.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TEAM shares. Scotiabank reduced their price target on Atlassian from $210.00 to $175.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Robert W. Baird downgraded shares of Atlassian from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $230.00 to $175.00 in a report on Friday, August 2nd. Wells Fargo & Company lowered their price target on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. Baird R W lowered shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, JMP Securities raised shares of Atlassian to a “hold” rating in a research report on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and an average price target of $217.69.

Insiders Place Their Bets

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $170.45, for a total transaction of $1,354,736.60. Following the completion of the transaction, the chief executive officer now directly owns 15,896 shares of the company’s stock, valued at approximately $2,709,473.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CTO Rajeev Bashyam Rajan sold 199 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $146.08, for a total value of $29,069.92. Following the completion of the transaction, the chief technology officer now owns 128,957 shares of the company’s stock, valued at approximately $18,838,038.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $170.45, for a total value of $1,354,736.60. Following the transaction, the chief executive officer now owns 15,896 shares in the company, valued at approximately $2,709,473.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 239,399 shares of company stock worth $40,189,629. Corporate insiders own 40.48% 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.