Atlassian Co. (NASDAQ:TEAM) Shares Acquired by Sei Investments Co.

Sei Investments Co. lifted its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 7.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,379,623 shares of the technology company’s stock after buying an additional 95,434 shares during the period. Sei Investments Co. owned approximately 0.54% of Atlassian worth $231,514,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. WCM Investment Management LLC lifted its position in Atlassian by 0.3% in the first quarter. WCM Investment Management LLC now owns 9,532,236 shares of the technology company’s stock valued at $1,631,633,000 after purchasing an additional 28,479 shares during the period. BlackRock Inc. lifted its position in Atlassian by 26.0% in the first quarter. BlackRock Inc. now owns 7,563,473 shares of the technology company’s stock valued at $1,294,640,000 after purchasing an additional 1,561,804 shares during the period. Artisan Partners Limited Partnership lifted its position in Atlassian by 3.5% in the second quarter. Artisan Partners Limited Partnership now owns 5,984,257 shares of the technology company’s stock valued at $1,004,218,000 after purchasing an additional 203,460 shares during the period. Brown Advisory Inc. lifted its position in Atlassian by 18.8% in the second quarter. Brown Advisory Inc. now owns 3,652,205 shares of the technology company’s stock valued at $612,876,000 after purchasing an additional 579,041 shares during the period. Finally, State Street Corp lifted its position in Atlassian by 41.0% in the first quarter. State Street Corp now owns 2,979,809 shares of the technology company’s stock valued at $510,032,000 after purchasing an additional 866,979 shares during the period. Institutional investors and hedge funds own 53.36% of the company’s stock.

Insider Buying and Selling at Atlassian

In other Atlassian news, CTO Rajeev Bashyam Rajan sold 2,214 shares of Atlassian stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $190.00, for a total value of $420,660.00. Following the transaction, the chief technology officer now owns 96,866 shares in the company, valued at approximately $18,404,540. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction on Monday, August 28th. The shares were sold at an average price of $191.71, for a total transaction of $1,579,882.11. Following the transaction, the chief executive officer now owns 189,543 shares in the company, valued at approximately $36,337,288.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 2,214 shares of Atlassian stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $190.00, for a total transaction of $420,660.00. Following the transaction, the chief technology officer now owns 96,866 shares in the company, valued at approximately $18,404,540. The disclosure for this sale can be found here. Insiders have sold a total of 330,760 shares of company stock worth $63,768,141 in the last quarter. 40.48% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on TEAM. BMO Capital Markets raised their price objective on shares of Atlassian from $180.00 to $220.00 and gave the company a “market perform” rating in a research report on Friday, August 4th. Robert W. Baird increased their target price on shares of Atlassian from $205.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Wells Fargo & Company increased their target price on shares of Atlassian from $200.00 to $230.00 and gave the company an “overweight” rating in a report on Friday, August 4th. StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a report on Saturday, November 11th. Finally, Piper Sandler dropped their target price on shares of Atlassian from $200.00 to $180.00 and set a “neutral” rating for the company in a report on Friday, November 3rd. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and a consensus price target of $202.19.

Atlassian Trading Down 0.9 %

Shares of TEAM traded down $1.64 during mid-day trading on Tuesday, reaching $184.46. The company had a trading volume of 433,068 shares, compared to its average volume of 1,880,414. The stock has a market cap of $47.60 billion, a price-to-earnings ratio of -93.01 and a beta of 0.64. The firm has a fifty day simple moving average of $190.22 and a 200-day simple moving average of $180.93. Atlassian Co. has a fifty-two week low of $114.61 and a fifty-two week high of $215.77. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 1.23.

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.