Carmignac Gestion Has $177.71 Million Position in Atlassian Corporation PLC $TEAM

Carmignac Gestion raised its holdings in Atlassian Corporation PLC (NASDAQ:TEAM) by 115.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,603,770 shares of the technology company’s stock after acquiring an additional 1,397,402 shares during the quarter. Atlassian comprises 2.7% of Carmignac Gestion’s portfolio, making the stock its 14th largest position. Carmignac Gestion owned approximately 1.03% of Atlassian worth $177,707,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TEAM. Vanguard Group Inc. lifted its stake in shares of Atlassian by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 18,541,267 shares of the technology company’s stock valued at $3,006,281,000 after purchasing an additional 61,706 shares during the period. Baillie Gifford & Co. grew its stake in shares of Atlassian by 3.9% during the fourth quarter. Baillie Gifford & Co. now owns 8,431,802 shares of the technology company’s stock worth $1,367,132,000 after purchasing an additional 316,276 shares during the period. AQR Capital Management LLC grew its stake in shares of Atlassian by 291.4% during the fourth quarter. AQR Capital Management LLC now owns 7,749,694 shares of the technology company’s stock worth $1,256,535,000 after purchasing an additional 5,769,788 shares during the period. Pictet Asset Management Holding SA increased its holdings in Atlassian by 27.4% in the first quarter. Pictet Asset Management Holding SA now owns 5,031,413 shares of the technology company’s stock valued at $343,344,000 after purchasing an additional 1,080,561 shares during the last quarter. Finally, Morgan Stanley increased its holdings in Atlassian by 52.4% in the fourth quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock valued at $781,841,000 after purchasing an additional 1,657,309 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Stock Down 0.0%

Shares of Atlassian stock opened at $101.01 on Monday. The company has a market capitalization of $25.63 billion, a P/E ratio of -121.70, a price-to-earnings-growth ratio of 7.17 and a beta of 1.05. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.70 and a quick ratio of 0.70. The business has a 50-day moving average of $90.49 and a two-hundred day moving average of $87.04. Atlassian Corporation PLC has a 1 year low of $56.01 and a 1 year high of $199.09.

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

Insider Activity at Atlassian

In related news, CRO Brian Duffy sold 3,000 shares of Atlassian stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $89.71, for a total value of $269,130.00. Following the sale, the executive owned 227,691 shares of the company’s stock, valued at approximately $20,426,159.61. This trade represents a 1.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James Chuong sold 8,838 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $775,534.50. Following the completion of the sale, the chief financial officer owned 288,272 shares in the company, valued at $25,295,868. The trade was a 2.97% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 20,041 shares of company stock worth $1,801,069 over the last 90 days. Corporate insiders own 36.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TEAM. TD Cowen raised their target price on Atlassian from $85.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, May 1st. KeyCorp lowered their price target on Atlassian from $130.00 to $115.00 and set an “overweight” rating for the company in a research note on Wednesday, July 8th. Barclays increased their price target on shares of Atlassian from $106.00 to $112.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Raymond James Financial reissued an “outperform” rating on shares of Atlassian in a research note on Tuesday, July 21st. Finally, BTIG Research restated a “buy” rating and set a $130.00 price objective on shares of Atlassian in a report on Friday, July 10th. Twenty-one research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and a consensus target price of $138.50.

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.