Amundi Buys 330,177 Shares of Atlassian Corporation PLC $TEAM

Amundi boosted its position in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 26.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,582,734 shares of the technology company’s stock after buying an additional 330,177 shares during the quarter. Amundi owned 0.60% of Atlassian worth $327,278,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of TEAM. Vanguard Group Inc. boosted its stake in shares of Atlassian by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 16,993,537 shares of the technology company’s stock worth $3,606,198,000 after purchasing an additional 580,583 shares during the period. ASR Vermogensbeheer N.V. bought a new stake in Atlassian in the first quarter worth about $3,451,000. Charles Schwab Investment Management Inc. lifted its stake in Atlassian by 7.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 670,968 shares of the technology company’s stock worth $142,386,000 after purchasing an additional 49,171 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Atlassian by 5.8% during the first quarter. Deutsche Bank AG now owns 717,861 shares of the technology company’s stock valued at $152,337,000 after buying an additional 39,658 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Atlassian by 10.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 141,532 shares of the technology company’s stock valued at $30,035,000 after buying an additional 13,433 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Insiders Place Their Bets

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,665 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $155.08, for a total transaction of $1,188,688.20. Following the completion of the sale, the chief executive officer directly owned 137,970 shares of the company’s stock, valued at approximately $21,396,387.60. This represents a 5.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Scott Farquhar sold 7,665 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $155.08, for a total transaction of $1,188,688.20. Following the completion of the sale, the director owned 137,970 shares in the company, valued at $21,396,387.60. This represents a 5.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 581,181 shares of company stock valued at $92,344,535 over the last 90 days. 36.66% of the stock is currently owned by company insiders.

Atlassian Price Performance

NASDAQ TEAM opened at $159.33 on Friday. The company has a market cap of $41.92 billion, a PE ratio of -224.41, a P/E/G ratio of 29.53 and a beta of 0.89. The firm’s 50 day moving average price is $155.20 and its 200-day moving average price is $177.42. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. Atlassian Corporation PLC has a 52-week low of $139.70 and a 52-week high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.21. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. Atlassian’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 earnings per share. Sell-side analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TEAM shares. Canaccord Genuity Group reissued a “buy” rating and set a $230.00 price target on shares of Atlassian in a research note on Wednesday, October 22nd. Macquarie reduced their target price on Atlassian from $250.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. Wall Street Zen raised shares of Atlassian from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Raymond James Financial reduced their price target on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Atlassian in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and an average target price of $240.00.

About Atlassian

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.