Ieq Capital LLC Has $36.95 Million Position in Atlassian Co. (NASDAQ:TEAM)

Ieq Capital LLC raised its stake in shares of Atlassian Co. (NASDAQ:TEAM - Free Report) by 16.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 151,826 shares of the technology company's stock after purchasing an additional 21,538 shares during the quarter. Ieq Capital LLC owned 0.06% of Atlassian worth $36,951,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Virtu Financial LLC bought a new position in Atlassian during the third quarter valued at about $606,000. Sequoia Financial Advisors LLC raised its stake in shares of Atlassian by 37.0% in the third 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 in the last quarter. Fulton Bank N.A. bought a new position in Atlassian in the fourth quarter worth $447,000. Paloma Partners Management Co bought a new position in Atlassian in the third quarter worth $1,588,000. Finally, Impax Asset Management Group plc boosted its stake in Atlassian by 590.6% during the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company's stock worth $5,940,000 after buying an additional 31,986 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Atlassian Trading Down 4.6 %

TEAM traded down $13.60 during mid-day trading on Friday, reaching $284.89. The stock had a trading volume of 1,143,487 shares, compared to its average volume of 2,036,715. The firm's fifty day simple moving average is $272.83 and its two-hundred day simple moving average is $221.70. The stock has a market capitalization of $74.64 billion, a P/E ratio of -212.88 and a beta of 0.87. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, equities analysts predict that Atlassian Co. will post -0.34 EPS for the current year.

Insider Activity

In other Atlassian news, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $254.76, for a total value of $387,235.20. Following the transaction, the president now owns 211,991 shares of the company's stock, valued at approximately $54,006,827.16. This represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $236.89, for a total transaction of $1,882,801.72. Following the transaction, the chief executive officer now directly owns 421,244 shares in the company, valued at $99,788,491.16. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 275,501 shares of company stock valued at $75,215,542. 38.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TEAM has been the subject of a number of analyst reports. Jefferies Financial Group raised their price objective on shares of Atlassian from $300.00 to $325.00 and gave the stock a "buy" rating in a report on Friday, January 24th. Barclays upped their price objective on Atlassian from $275.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. BMO Capital Markets upgraded Atlassian from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $255.00 to $292.00 in a research report on Friday, January 10th. Citigroup upped their price target on Atlassian from $255.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Finally, Cantor Fitzgerald lifted their price objective on Atlassian from $264.00 to $304.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Eight investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat, Atlassian currently has an average rating of "Moderate Buy" and a consensus target price of $319.71.

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.