Amundi Has $146.26 Million Stock Holdings in Atlassian Corporation PLC $TEAM

Amundi trimmed its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 0.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,143,038 shares of the technology company’s stock after selling 13,942 shares during the period. Amundi’s holdings in Atlassian were worth $146,262,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of TEAM. AQR Capital Management LLC increased its stake in Atlassian by 291.4% in the 4th 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 in the last quarter. Norges Bank purchased a new stake in Atlassian during the fourth quarter valued at about $323,526,000. Morgan Stanley boosted its holdings in shares of Atlassian by 52.4% in the fourth quarter. Morgan Stanley now owns 4,822,007 shares of the technology company’s stock worth $781,841,000 after buying an additional 1,657,309 shares during the period. KBC Group NV boosted its holdings in shares of Atlassian by 1,691.2% in the first quarter. KBC Group NV now owns 1,440,019 shares of the technology company’s stock worth $98,281,000 after buying an additional 1,359,624 shares during the period. Finally, Carmignac Gestion increased its position in shares of Atlassian by 6,602.0% in the fourth quarter. Carmignac Gestion now owns 1,206,368 shares of the technology company’s stock worth $195,601,000 after acquiring an additional 1,188,368 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Stock Up 2.9%

Atlassian stock opened at $101.01 on Friday. Atlassian Corporation PLC has a twelve month low of $56.01 and a twelve month high of $199.09. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $25.63 billion, a PE ratio of -121.70, a P/E/G ratio of 6.96 and a beta of 1.11. The firm’s 50 day moving average price is $90.49 and its two-hundred day moving average price is $87.46.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, April 30th. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.70 billion. During the same quarter last year, the business posted $0.97 EPS. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. On average, research analysts predict that Atlassian Corporation PLC will post 0.81 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on TEAM. Truist Financial upped their price target on shares of Atlassian from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Sanford C. Bernstein reiterated an “outperform” rating on shares of Atlassian in a research report on Monday, June 29th. Raymond James Financial reissued an “outperform” rating on shares of Atlassian in a research note on Tuesday, July 21st. BTIG Research restated a “buy” rating and issued a $130.00 target price on shares of Atlassian in a report on Friday, July 10th. Finally, Canaccord Genuity Group decreased their target price on Atlassian from $185.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Twenty-one research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and an average target price of $138.50.

Insider Buying and Selling at Atlassian

In other news, CRO Brian Duffy sold 3,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $89.71, for a total transaction 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 trade represents a 1.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James Chuong sold 8,838 shares of Atlassian stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $87.75, for a total value of $775,534.50. Following the sale, the chief financial officer owned 288,272 shares of the company’s stock, valued at approximately $25,295,868. This represents a 2.97% 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 quarter, insiders have sold 20,041 shares of company stock valued at $1,801,069. 36.66% of the stock is owned by corporate insiders.

Atlassian Profile

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.