Atlassian Corporation PLC $TEAM Shares Bought by Sei Investments Co.

Sei Investments Co. grew its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 30.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 89,740 shares of the technology company’s stock after purchasing an additional 20,907 shares during the period. Sei Investments Co.’s holdings in Atlassian were worth $6,125,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of TEAM. Vanguard Group Inc. grew its holdings in Atlassian by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 18,541,267 shares of the technology company’s stock worth $3,006,281,000 after acquiring an additional 61,706 shares during the period. Baillie Gifford & Co. boosted its position in Atlassian by 3.9% in the 4th quarter. Baillie Gifford & Co. now owns 8,431,802 shares of the technology company’s stock worth $1,367,132,000 after purchasing an additional 316,276 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Atlassian by 291.4% during the 4th quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company’s stock worth $1,256,535,000 after purchasing an additional 5,769,788 shares during the period. Pictet Asset Management Holding SA increased its holdings in shares of Atlassian by 27.4% during the 1st quarter. Pictet Asset Management Holding SA now owns 5,031,413 shares of the technology company’s stock valued at $343,344,000 after purchasing an additional 1,080,561 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of Atlassian by 52.4% during the 4th quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock valued at $781,841,000 after purchasing an additional 1,657,309 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling at Atlassian

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TEAM. Morgan Stanley lowered their price target on shares of Atlassian from $290.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, April 16th. Piper Sandler cut their price objective on shares of Atlassian from $200.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, May 1st. KeyCorp decreased their price objective on shares of Atlassian from $130.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 8th. Bank of America lowered their target price on shares of Atlassian from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Thursday, July 16th. Finally, Raymond James Financial restated an “outperform” rating on shares of Atlassian in a research note on Tuesday, July 21st. Twenty-one investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $139.23.

Atlassian Price Performance

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

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.