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

Segment Wealth Management LLC lowered its position in Atlassian Co. (NASDAQ:TEAM) by 43.0% during the fourth quarter, Holdings Channel reports. The firm owned 1,350 shares of the technology company’s stock after selling 1,020 shares during the period. Segment Wealth Management LLC’s holdings in Atlassian were worth $329,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. acquired a new stake in Atlassian during the second quarter worth approximately $444,000. Dimensional Fund Advisors LP grew its position in shares of Atlassian by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 150,393 shares of the technology company’s stock worth $26,597,000 after buying an additional 5,878 shares during the period. Amalgamated Bank increased its stake in shares of Atlassian by 3.5% in the 2nd quarter. Amalgamated Bank now owns 10,608 shares of the technology company’s stock valued at $1,876,000 after acquiring an additional 363 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Atlassian by 17.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,403 shares of the technology company’s stock valued at $248,000 after acquiring an additional 205 shares during the period. Finally, AE Wealth Management LLC boosted its stake in Atlassian by 1.4% during the second quarter. AE Wealth Management LLC now owns 12,738 shares of the technology company’s stock worth $2,253,000 after acquiring an additional 174 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TEAM shares. Macquarie assumed coverage on shares of Atlassian in a research note on Thursday, December 12th. They issued a “neutral” rating and a $290.00 price target for the company. Oppenheimer upped their price target on Atlassian from $270.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Morgan Stanley raised their price objective on Atlassian from $259.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. Citigroup upped their target price on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Finally, Wells Fargo & Company lifted their price target on shares of Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $272.00.

Atlassian Stock Up 1.5 %

Shares of Atlassian stock opened at $256.19 on Wednesday. Atlassian Co. has a 1 year low of $135.29 and a 1 year 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 has a fifty day moving average price of $256.49 and a 200-day moving average price of $202.72.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion during 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 quarter last year, the company posted ($0.07) earnings per share. On average, analysts anticipate that Atlassian Co. will post -0.55 earnings per share for the current year.

Insider Buying and Selling

In related news, President Anutthara Bharadwaj sold 1,520 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $259.85, for a total value of $394,972.00. Following the sale, the president now directly owns 210,471 shares in the company, valued at approximately $54,690,889.35. The trade was a 0.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Scott Farquhar sold 7,948 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $219.07, for a total transaction of $1,741,168.36. Following the transaction, the director now owns 309,972 shares of the company’s stock, valued at $67,905,566.04. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 264,240 shares of company stock valued at $64,788,465. 38.55% of the stock is owned by company insiders.

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.