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

Carmignac Gestion grew its stake in Atlassian Corporation PLC (NASDAQ:TEAM) by 115.8% during the first quarter, HoldingsChannel reports. The firm owned 2,603,770 shares of the technology company’s stock after buying an additional 1,397,402 shares during the quarter. Atlassian accounts for about 2.7% of Carmignac Gestion’s investment portfolio, making the stock its 14th largest holding. Carmignac Gestion’s holdings in Atlassian were worth $177,707,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. NewEdge Advisors LLC increased its stake in shares of Atlassian by 71.6% in the first quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company’s stock valued at $1,153,000 after buying an additional 2,267 shares during the period. Empowered Funds LLC raised its holdings in Atlassian by 39.5% during the 1st quarter. Empowered Funds LLC now owns 4,689 shares of the technology company’s stock worth $995,000 after purchasing an additional 1,328 shares during the last quarter. Focus Partners Wealth lifted its position in shares of Atlassian by 32.6% in the 1st quarter. Focus Partners Wealth now owns 4,122 shares of the technology company’s stock worth $875,000 after purchasing an additional 1,014 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after purchasing an additional 161 shares during the period. Finally, Sivia Capital Partners LLC boosted its stake in shares of Atlassian by 27.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company’s stock valued at $380,000 after purchasing an additional 404 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on TEAM. Oppenheimer upped their price target on shares of Atlassian from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Guggenheim set a $115.00 price objective on Atlassian in a research note on Thursday, April 9th. Weiss Ratings restated a “sell (e+)” rating on shares of Atlassian in a research report on Friday, July 17th. Bank of America decreased their target price on Atlassian from $110.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, July 16th. Finally, Zacks Research downgraded Atlassian from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Twenty-one 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. According to MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.50.

Insider Activity

In other news, CRO Brian Duffy sold 3,000 shares of the 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 completion of the sale, the executive directly owned 227,691 shares of the company’s stock, valued at $20,426,159.61. This represents a 1.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO James Chuong sold 8,838 shares of the firm’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 transaction, the chief financial officer owned 288,272 shares in the company, valued at $25,295,868. This represents a 2.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 20,041 shares of company stock worth $1,801,069. 36.66% of the stock is owned by insiders.

Atlassian Stock Down 0.0%

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

Atlassian (NASDAQ:TEAM) last posted its 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. Atlassian had a negative net margin of 3.50% and a positive return on equity of 6.22%. The company had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. The firm’s revenue for the quarter was up 31.7% on a year-over-year basis. On average, equities research analysts predict that Atlassian Corporation PLC will post 0.81 earnings per share for the current fiscal year.

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.