Artisan Partners, an investment management company, released its “Artisan Global Discovery Fund” second quarter investor letter. A copy of the same can be downloaded here. In the second quarter, its Investor Class: APFDX returned -20.46%, Advisor Class: APDDX posted a return of -20.42%, and Institutional Class: APHDX returned -20.40%, compared to the benchmark return of -15.66% for the MSCI All Country World Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Artisan Partners discussed stocks like Atlassian Corporation Plc (NASDAQ:TEAM) in the second quarter investor letter. Headquartered in Sydney, Australia, Atlassian Corporation Plc (NASDAQ:TEAM) is a software product development company. On September 23, 2022, Atlassian Corporation Plc (NASDAQ:TEAM) stock closed at $217.56 per share. One-month return of Atlassian Corporation Plc (NASDAQ:TEAM) was -15.36% and its shares lost 47.44% of their value over the last 52 weeks. Atlassian Corporation Plc (NASDAQ:TEAM) has a market capitalization of $55.465 billion.
Here is what Artisan Partners specifically said about Atlassian Corporation Plc (NASDAQ:TEAM) in its Q2 2022 investor letter:
“Atlassian Corporation Plc (NASDAQ:TEAM) is a leading provider of innovative, customizable team-collaboration software tools for over 200,000 customers. Despite positive fundamental momentum—the company recently reported 30% revenue growth and 28% trailing twelve months FCF margins—shares traded lower during Q2 as investors rotated out of high-growth stocks with elevated multiples. The company’s highly efficient sales and marketing capability, combined with substantial R&D investment, points to sustained long-term revenue and FCF growth. Meanwhile, we recognize a recession would likely have an impact on Atlassian via slowing growth metrics. However, we believe its low priced, mission critical cloud tools would prove relatively resilient in this scenario. For these reasons and shares trading at a very attractive valuation for a business with highly recurring revenues, strong revenue growth prospects and attractive margins, we added to our position.”
Atlassian Corporation Plc (NASDAQ:TEAM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 66 hedge fund portfolios held Atlassian Corporation Plc (NASDAQ:TEAM) at the end of the second quarter which was 65 in the previous quarter.
We discussed Atlassian Corporation Plc (NASDAQ:TEAM) in another article and shared the list of tech stocks to buy according to Jim Simons’ Renaissance Technologies. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.
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