Ieq Capital LLC Sells 162 Shares of Atlassian Co. (NASDAQ:TEAM)

Ieq Capital LLC cut its position in Atlassian Co. (NASDAQ:TEAM) by 0.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,046 shares of the technology company’s stock after selling 162 shares during the quarter. Ieq Capital LLC’s holdings in Atlassian were worth $22,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of TEAM. Price T Rowe Associates Inc. MD lifted its stake in Atlassian by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after purchasing an additional 904,138 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in Atlassian in the 2nd quarter worth approximately $91,072,000. Vanguard Group Inc. lifted its stake in Atlassian by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after purchasing an additional 504,181 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Atlassian in the 1st quarter worth approximately $55,307,000. Finally, Swedbank AB purchased a new stake in Atlassian in the 1st quarter worth approximately $50,923,000. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $163.95, for a total transaction of $1,303,074.60. Following the sale, the chief executive officer now owns 31,792 shares of the company’s stock, valued at approximately $5,212,298.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, President Anutthara Bharadwaj sold 760 shares of Atlassian stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $175.00, for a total transaction of $133,000.00. Following the sale, the president now owns 152,534 shares of the company’s stock, valued at approximately $26,693,450. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Cannon-Brookes sold 7,948 shares of Atlassian stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $163.95, for a total transaction of $1,303,074.60. Following the sale, the chief executive officer now directly owns 31,792 shares in the company, valued at approximately $5,212,298.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 231,451 shares of company stock valued at $38,889,654. Corporate insiders own 40.48% of the company’s stock.

Atlassian Price Performance

Shares of Atlassian stock opened at $163.10 on Friday. The firm has a market cap of $42.41 billion, a PE ratio of -258.89 and a beta of 0.73. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. The company’s fifty day simple moving average is $162.35 and its two-hundred day simple moving average is $175.85.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The company’s revenue was up 20.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.21) EPS. As a group, equities analysts expect that Atlassian Co. will post -0.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TEAM shares. StockNews.com cut shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Friday, July 12th. Scotiabank lowered their price objective on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company lowered their price objective on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. JMP Securities upgraded shares of Atlassian to a “hold” rating in a research report on Friday, August 2nd. Finally, Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price objective on the stock in a research report on Thursday, July 11th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $217.69.

About Atlassian

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.