Segment Wealth Management LLC Has $329,000 Stock Position in Atlassian Co. (NASDAQ:TEAM)

Segment Wealth Management LLC lessened its stake in Atlassian Co. (NASDAQ:TEAM) by 43.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,350 shares of the technology company’s stock after selling 1,020 shares during the quarter. Segment Wealth Management LLC’s holdings in Atlassian were worth $329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TEAM. Virtu Financial LLC acquired a new stake in Atlassian in the third quarter valued at $606,000. Sequoia Financial Advisors LLC raised its holdings in shares of Atlassian by 37.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after purchasing an additional 520 shares during the period. Fulton Bank N.A. bought a new position in Atlassian during the fourth quarter worth about $447,000. Paloma Partners Management Co acquired a new position in Atlassian during the third quarter worth approximately $1,588,000. Finally, Impax Asset Management Group plc lifted its position in shares of Atlassian by 590.6% in the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock valued at $5,940,000 after buying an additional 31,986 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TEAM. KeyCorp increased their price target on Atlassian from $260.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Raymond James raised their target price on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Cantor Fitzgerald started coverage on shares of Atlassian in a research note on Friday, January 17th. They issued a “neutral” rating and a $264.00 price target on the stock. Robert W. Baird raised their price objective on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and upped their target price for the company from $255.00 to $292.00 in a research report on Friday, January 10th. Nine investment analysts have rated the stock with a hold rating and sixteen have assigned 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 $272.00.

Insider Transactions at Atlassian

In other Atlassian news, President Anutthara Bharadwaj sold 4,560 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $1,028,052.00. Following the completion of the transaction, the president now directly owns 224,436 shares in the company, valued at approximately $50,599,096.20. This represents a 1.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $189.75, for a total transaction of $1,508,133.00. Following the transaction, the chief executive officer now directly owns 357,660 shares of the company’s stock, valued at $67,865,985. The trade was a 2.17 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 264,240 shares of company stock worth $64,788,465. Corporate insiders own 38.55% of the company’s stock.

Atlassian Stock Up 1.5 %

NASDAQ:TEAM opened at $256.19 on Wednesday. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $287.97. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock’s 50-day simple moving average is $256.49 and its 200 day simple moving average is $202.72.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period last year, the company posted ($0.07) EPS. Equities analysts predict that Atlassian Co. will post -0.55 earnings per share for the current fiscal year.

Atlassian Company 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.