Zurcher Kantonalbank Zurich Cantonalbank Has $22.60 Million Stock Position in Atlassian Corporation PLC $TEAM

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Atlassian Corporation PLC (NASDAQ:TEAM) by 25.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 139,400 shares of the technology company’s stock after buying an additional 28,001 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Atlassian were worth $22,602,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of TEAM. Physician Wealth Advisors Inc. lifted its position in shares of Atlassian by 60.4% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after buying an additional 61 shares during the last quarter. Atlantic Union Bankshares Corp lifted its position in shares of Atlassian by 19,900.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after buying an additional 199 shares during the last quarter. Board of the Pension Protection Fund bought a new stake in shares of Atlassian during the 4th quarter worth $32,000. Geneos Wealth Management Inc. lifted its position in shares of Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after buying an additional 161 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Atlassian during the 3rd quarter worth $57,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Michael Cannon-Brookes sold 7,665 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $105.14, for a total transaction of $805,898.10. Following the completion of the transaction, the chief executive officer directly owned 283,605 shares in the company, valued at $29,818,229.70. This trade represents a 2.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Scott Farquhar sold 7,665 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $116.40, for a total value of $892,206.00. Following the transaction, the director owned 298,935 shares of the company’s stock, valued at $34,796,034. This trade represents a 2.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 113,323 shares of company stock valued at $13,274,072 over the last quarter. Corporate insiders own 36.66% of the company’s stock.

Atlassian Price Performance

Atlassian stock opened at $71.22 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $18.78 billion, a PE ratio of -98.92 and a beta of 0.99. Atlassian Corporation PLC has a 12 month low of $56.01 and a 12 month high of $242.00. The stock has a 50-day moving average price of $72.91 and a two-hundred day moving average price of $121.55.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Friday, February 6th. The technology company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.12 by $0.10. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.54 billion. Atlassian had a negative return on equity of 6.33% and a negative net margin of 3.29%.The business’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period last year, the company earned $0.96 earnings per share. Analysts expect that Atlassian Corporation PLC will post -0.01 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. UBS Group restated a “neutral” rating and set a $105.00 price objective on shares of Atlassian in a research report on Friday, February 6th. BNP Paribas Exane assumed coverage on Atlassian in a research report on Monday, March 16th. They set an “outperform” rating and a $95.00 price objective for the company. Cantor Fitzgerald dropped their price objective on Atlassian from $240.00 to $146.00 and set an “overweight” rating for the company in a research report on Wednesday, February 4th. Weiss Ratings restated a “sell (e+)” rating on shares of Atlassian in a research report on Monday. Finally, Canaccord Genuity Group dropped their price objective on Atlassian from $185.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, April 15th. Nineteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and a consensus target price of $155.11.

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.