Ieq Capital LLC Grows Position in Atlassian Corporation PLC $TEAM

Key Points

• Ieq Capital LLC increased its stake in Atlassian Corporation PLC by 20.0%, acquiring an additional 30,313 shares during the first quarter.
• Numerous institutional investors have also shown strong interest in Atlassian, with 94.45% of the stock currently owned by institutional investors.
• Analysts have reduced their price targets for Atlassian shares, with a current consensus target price of $256.90 amid a general "Moderate Buy" rating from analysts.

Ieq Capital LLC grew its position in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 20.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 182,139 shares of the technology company's stock after purchasing an additional 30,313 shares during the quarter. Ieq Capital LLC owned approximately 0.07% of Atlassian worth $38,652,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Clean Yield Group raised its stake in Atlassian by 372.0% in the first quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after buying an additional 93 shares in the last quarter. Colonial Trust Co SC boosted its position in shares of Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after acquiring an additional 69 shares in the last quarter. Smithfield Trust Co increased its holdings in shares of Atlassian by 90.7% in the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after acquiring an additional 78 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Atlassian by 82.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 243 shares of the technology company's stock worth $52,000 after acquiring an additional 110 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of Atlassian by 25.9% during the 1st quarter. First Horizon Advisors Inc. now owns 267 shares of the technology company's stock worth $57,000 after acquiring an additional 55 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TEAM shares. Canaccord Genuity Group dropped their price target on shares of Atlassian from $255.00 to $230.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Barclays lowered their target price on shares of Atlassian from $244.00 to $215.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Wall Street Zen upgraded shares of Atlassian from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. Raymond James Financial decreased their price objective on shares of Atlassian from $300.00 to $250.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Finally, Citigroup cut their target price on Atlassian from $300.00 to $240.00 and set a "buy" rating on the stock in a research report on Monday, August 18th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Atlassian has an average rating of "Moderate Buy" and an average price target of $256.90.

Insider Buying and Selling at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $208.43, for a total transaction of $1,656,601.64. Following the completion of the transaction, the chief executive officer owned 23,844 shares in the company, valued at approximately $4,969,804.92. This represents a 25.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Anutthara Bharadwaj sold 7,728 shares of Atlassian stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $163.43, for a total transaction of $1,262,987.04. Following the completion of the sale, the president directly owned 182,801 shares in the company, valued at approximately $29,875,167.43. The trade was a 4.06% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 539,662 shares of company stock valued at $103,608,546. 38.55% of the stock is owned by company insiders.

Atlassian Stock Performance

TEAM traded up $1.00 on Friday, hitting $177.78. 2,893,757 shares of the company traded hands, compared to its average volume of 3,086,541. Atlassian Corporation PLC has a 12-month low of $154.07 and a 12-month high of $326.00. The company has a 50 day moving average of $188.25 and a 200-day moving average of $213.06. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $46.64 billion, a PE ratio of -179.57 and a beta of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.83 by $0.15. Atlassian had a negative return on equity of 14.77% and a negative net margin of 4.92%.The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The company's revenue for the quarter was up 22.3% compared to the same quarter last year. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. Sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

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.