Ieq Capital LLC Raises Holdings in Atlassian Corporation PLC $TEAM

Ieq Capital LLC raised its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 180.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 owned approximately 0.23% of Atlassian worth $96,171,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Board of the Pension Protection Fund bought a new position in shares of Atlassian during the 4th quarter valued at $32,000. Basepoint Wealth LLC bought a new position in shares of Atlassian during the 4th quarter valued at $32,000. Bogart Wealth LLC lifted its holdings in shares of Atlassian by 76.4% during the 4th quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock valued at $35,000 after buying an additional 94 shares during the period. VSM Wealth Advisory LLC bought a new position in shares of Atlassian during the 4th quarter valued at $41,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after buying an additional 161 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Trading Down 0.8%

Shares of Atlassian stock opened at $88.52 on Friday. The firm has a market cap of $22.46 billion, a price-to-earnings ratio of -106.65, a PEG ratio of 5.06 and a beta of 1.07. Atlassian Corporation PLC has a twelve month low of $56.01 and a twelve month high of $222.59. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 1.13. The business has a 50-day moving average price of $81.45 and a 200-day moving average price of $104.57.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, April 30th. The technology company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.33 by $0.42. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.70 billion. Atlassian had a positive return on equity of 6.22% and a negative net margin of 3.50%.The firm’s revenue was up 31.7% on a year-over-year basis. During the same quarter last year, the business posted $0.97 earnings per share. Equities research analysts anticipate that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TEAM shares. Raymond James Financial set a $130.00 price target on Atlassian in a report on Friday, May 1st. BNP Paribas Exane started coverage on Atlassian in a report on Monday, March 16th. They set an “outperform” rating and a $95.00 price target on the stock. Truist Financial increased their price target on Atlassian from $90.00 to $100.00 and gave the company a “buy” rating in a report on Friday, May 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a report on Monday, April 20th. Finally, Wells Fargo & Company decreased their target price on Atlassian from $155.00 to $120.00 and set an “overweight” rating on the stock in a report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.63.

Insider Activity

In related news, CFO James Chuong sold 8,838 shares of Atlassian stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $87.75, for a total value of $775,534.50. Following the completion of the transaction, the chief financial officer owned 288,272 shares in the company, valued at approximately $25,295,868. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 Atlassian stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $89.71, for a total value of $269,130.00. Following the completion of the transaction, the executive owned 227,691 shares of the company’s stock, valued at approximately $20,426,159.61. This represents a 1.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 20,041 shares of company stock valued at $1,801,069. 36.66% of the stock is currently owned by company insiders.

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.