Zurcher Kantonalbank Zurich Cantonalbank Has $23.19 Million Stock Holdings in Atlassian Co. (NASDAQ:TEAM)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Atlassian Co. (NASDAQ:TEAM) by 193.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 95,274 shares of the technology company’s stock after purchasing an additional 62,812 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Atlassian were worth $23,188,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Principal Financial Group Inc. boosted its stake in shares of Atlassian by 61.4% in the 3rd quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company’s stock valued at $1,710,000 after purchasing an additional 4,099 shares in the last quarter. Venturi Wealth Management LLC boosted its position in Atlassian by 18.6% in the third quarter. Venturi Wealth Management LLC now owns 1,411 shares of the technology company’s stock valued at $224,000 after buying an additional 221 shares in the last quarter. GSA Capital Partners LLP grew its stake in shares of Atlassian by 140.4% during the third quarter. GSA Capital Partners LLP now owns 4,827 shares of the technology company’s stock worth $767,000 after buying an additional 2,819 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of Atlassian by 0.9% during the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock worth $1,352,115,000 after buying an additional 78,454 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Atlassian by 1.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 366,254 shares of the technology company’s stock valued at $58,165,000 after acquiring an additional 6,470 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Atlassian Stock Up 3.8 %

TEAM stock opened at $224.10 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The stock’s 50 day simple moving average is $275.10 and its 200 day simple moving average is $233.57. The company has a market cap of $58.71 billion, a P/E ratio of -167.24 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. On average, research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, President Anutthara Bharadwaj sold 1,520 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $254.76, for a total value of $387,235.20. Following the completion of the sale, the president now directly owns 211,991 shares of the company’s stock, valued at $54,006,827.16. This represents a 0.71 % 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, CEO Michael Cannon-Brookes sold 15,896 shares of Atlassian stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $243.55, for a total value of $3,871,470.80. Following the transaction, the chief executive officer now directly owns 429,192 shares in the company, valued at approximately $104,529,711.60. The trade was a 3.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 272,501 shares of company stock valued at $74,569,690. Corporate insiders own 38.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TEAM. KeyCorp boosted their price objective on Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Morgan Stanley upped their price objective on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Barclays raised their price objective on shares of Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Jefferies Financial Group raised their price target on shares of Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.71.

Atlassian Company Profile

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.