Atlassian Co. (NASDAQ:TEAM) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 0.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,462 shares of the technology company’s stock after selling 40 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Atlassian were worth $5,155,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TEAM. Financial Advocates Investment Management increased its position in shares of Atlassian by 1.7% during the second quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after purchasing an additional 62 shares in the last quarter. Legacy Wealth Asset Management LLC increased its position in Atlassian by 2.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after buying an additional 70 shares during the period. Brown Brothers Harriman & Co. lifted its stake in Atlassian by 23.2% in the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after buying an additional 82 shares during the last quarter. Commerce Bank boosted its holdings in shares of Atlassian by 1.8% in the third quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock valued at $789,000 after acquiring an additional 90 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Atlassian by 68.6% during the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares during the last quarter. 93.03% of the stock is owned by hedge funds and other institutional investors.

Atlassian Stock Up 0.9 %

Atlassian stock opened at $265.88 on Tuesday. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $269.40. The firm has a market capitalization of $69.24 billion, a price-to-earnings ratio of -174.92 and a beta of 0.71. The stock’s fifty day moving average is $208.64 and its two-hundred day moving average is $180.38. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company earned ($0.07) EPS. The firm’s revenue was up 21.5% on a year-over-year basis. Analysts predict that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Raymond James increased their price target on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Barclays dropped their price target on Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Canaccord Genuity Group increased their price objective on Atlassian from $225.00 to $255.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Scotiabank boosted their target price on Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Finally, Mizuho increased their price target on Atlassian from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $244.21.

Insider Activity at Atlassian

In related news, President Anutthara Bharadwaj sold 1,659 shares of Atlassian stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $245.81, for a total transaction of $407,798.79. Following the completion of the sale, the president now owns 213,511 shares in the company, valued at approximately $52,483,138.91. This trade represents a 0.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $264.32, for a total transaction of $2,100,815.36. Following the completion of the transaction, the chief executive officer now owns 166,908 shares in the company, valued at approximately $44,117,122.56. This trade represents a 4.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 257,694 shares of company stock valued at $51,359,580. 38.55% of the stock is owned by corporate insiders.

Atlassian 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.