Ieq Capital LLC Purchases 381,840 Shares of Atlassian Corporation PLC $TEAM

Ieq Capital LLC boosted its position in Atlassian Corporation PLC (NASDAQ:TEAM) by 180.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 593,139 shares of the technology company’s stock after purchasing an additional 381,840 shares during the period. Ieq Capital LLC’s holdings in Atlassian were worth $96,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in TEAM. GAMMA Investing LLC raised its stake in Atlassian by 12.0% in the fourth quarter. GAMMA Investing LLC now owns 615 shares of the technology company’s stock worth $100,000 after buying an additional 66 shares in the last quarter. Snowden Capital Advisors LLC raised its stake in Atlassian by 1.6% in the second quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock worth $907,000 after buying an additional 71 shares in the last quarter. Financial Perspectives Inc raised its stake in Atlassian by 11.7% in the fourth quarter. Financial Perspectives Inc now owns 718 shares of the technology company’s stock worth $116,000 after buying an additional 75 shares in the last quarter. ABN Amro Investment Solutions raised its stake in Atlassian by 3.4% in the third quarter. ABN Amro Investment Solutions now owns 2,452 shares of the technology company’s stock worth $392,000 after buying an additional 80 shares in the last quarter. Finally, Clearstead Advisors LLC raised its stake in Atlassian by 20.5% in the third quarter. Clearstead Advisors LLC now owns 488 shares of the technology company’s stock worth $78,000 after buying an additional 83 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on TEAM. BNP Paribas Exane began coverage on shares of Atlassian in a report on Monday, March 16th. They issued an “outperform” rating and a $95.00 price target on the stock. BMO Capital Markets cut their price target on shares of Atlassian from $130.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $295.00 price target on shares of Atlassian in a report on Friday, May 1st. Zacks Research raised shares of Atlassian from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 6th. Finally, KeyCorp cut their price target on shares of Atlassian from $170.00 to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.63.

Atlassian Price Performance

NASDAQ TEAM opened at $88.52 on Friday. The firm’s fifty day simple moving average is $81.45 and its two-hundred day simple moving average is $104.57. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 1.13. Atlassian Corporation PLC has a 12-month low of $56.01 and a 12-month high of $222.59. The firm has a market capitalization of $22.46 billion, a P/E ratio of -106.65, a P/E/G ratio of 5.06 and a beta of 1.07.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, April 30th. The technology company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.42. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.70 billion. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The business’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.97 earnings per share. Analysts forecast that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO James Chuong sold 8,838 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were 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. The trade was a 2.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Brian Duffy sold 3,000 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $89.71, for a total transaction of $269,130.00. Following the sale, the executive directly 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 SEC filing for this sale provides additional information. Insiders have sold 20,041 shares of company stock worth $1,801,069 over the last three months. Corporate insiders own 36.66% of the company’s stock.

About Atlassian

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.