Atlassian Corporation PLC $TEAM Shares Sold by Carmignac Gestion

by · The Cerbat Gem

Carmignac Gestion trimmed its holdings in shares of Atlassian Corporation PLC (NASDAQ:TEAM – Free Report) by 39.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,577,000 shares of the technology company’s stock after selling 1,026,770 shares during the period. Atlassian comprises approximately 1.6% of Carmignac Gestion’s investment portfolio, making the stock its 17th biggest position. Carmignac Gestion owned approximately 0.62% of Atlassian worth $122,675,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TEAM. MV Capital Management Inc. bought a new stake in shares of Atlassian during the 4th quarter worth $25,000. Manning & Napier Advisors LLC acquired a new stake in shares of Atlassian during the second quarter worth $27,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Atlassian by 139.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 378 shares of the technology company’s stock worth $29,000 after purchasing an additional 220 shares during the period. Western Wealth Management LLC purchased a new stake in shares of Atlassian during the first quarter valued at $30,000. Finally, State of Wyoming lifted its holdings in shares of Atlassian by 65.7% during the first quarter. State of Wyoming now owns 449 shares of the technology company’s stock valued at $31,000 after purchasing an additional 178 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Atlassian Stock Down 6.9%

Atlassian stock traded down $13.16 during trading hours on Tuesday, hitting $176.42. The company had a trading volume of 3,872,998 shares, compared to its average volume of 6,128,567. The firm has a market capitalization of $44.77 billion, a P/E ratio of -928.53, a price-to-earnings-growth ratio of 14.90 and a beta of 1.15. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.78 and a quick ratio of 0.78. The firm’s fifty day moving average is $128.22 and its 200-day moving average is $96.44. Atlassian Corporation PLC has a fifty-two week low of $56.01 and a fifty-two week high of $198.60.

Atlassian (NASDAQ:TEAM – Get Free Report) last issued its earnings results on Friday, August 7th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.37. Atlassian had a negative net margin of 0.82% and a positive return on equity of 20.99%. The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.66 billion. During the same quarter last year, the business posted $0.98 EPS. The company’s revenue for the quarter was up 27.6% on a year-over-year basis. On average, research analysts forecast that Atlassian Corporation PLC will post 0.94 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Jefferies Financial Group reissued a “buy” rating and issued a $200.00 price target on shares of Atlassian in a research note on Friday, August 7th. KeyCorp raised their target price on shares of Atlassian from $115.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Oppenheimer lifted their target price on shares of Atlassian from $110.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Raymond James Financial set a $180.00 price target on shares of Atlassian in a research report on Friday, August 7th. Finally, Guggenheim raised their price objective on shares of Atlassian from $115.00 to $165.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Twenty-five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.81.

Get Our Latest Analysis on Atlassian

Insider Activity at Atlassian

In other Atlassian news, CAO Gene Liu sold 939 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $190.00, for a total value of $178,410.00. Following the transaction, the chief accounting officer owned 55,868 shares in the company, valued at $10,614,920. The trade was a 1.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Brian Duffy sold 1,851 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $172.45, for a total value of $319,204.95. Following the sale, the executive directly owned 218,223 shares of the company’s stock, valued at $37,632,556.35. This trade represents a 0.84% decrease in their ownership of the stock. 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. Over the last 90 days, insiders sold 28,383 shares of company stock valued at $4,316,379. Insiders own 36.66% of the company’s stock.

Atlassian Company Profile

(Free Report)

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.

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