Segment Wealth Management LLC Has $376,000 Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Segment Wealth Management LLC lessened its holdings in shares of Atlassian Co. (NASDAQ:TEAM) by 40.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,370 shares of the technology company’s stock after selling 1,615 shares during the period. Segment Wealth Management LLC’s holdings in Atlassian were worth $376,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling at Atlassian

In other news, President Anutthara Bharadwaj sold 760 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $163.11, for a total value of $123,963.60. Following the transaction, the president now directly owns 143,966 shares of the company’s stock, valued at $23,482,294.26. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $163.11, for a total transaction of $123,963.60. Following the completion of the sale, the president now owns 143,966 shares of the company’s stock, valued at approximately $23,482,294.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $177.65, for a total transaction of $1,411,962.20. Following the sale, the chief executive officer now directly owns 357,660 shares of the company’s stock, valued at $63,538,299. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 230,185 shares of company stock valued at $38,511,079 in the last quarter. 40.48% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TEAM shares. Raymond James upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 price target for the company in a report on Tuesday, October 1st. Mizuho upped their target price on shares of Atlassian from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Truist Financial dropped their price target on Atlassian from $200.00 to $160.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. BMO Capital Markets cut their price target on Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a report on Friday, August 2nd. Finally, Canaccord Genuity Group boosted their price target on Atlassian from $200.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $212.47.

Atlassian Stock Down 2.6 %

Shares of TEAM stock opened at $188.76 on Thursday. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $258.69. The stock has a market cap of $49.08 billion, a price-to-earnings ratio of -162.72 and a beta of 0.73. The firm’s 50-day moving average is $167.87 and its 200-day moving average is $171.66. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18.

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

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.