Zurcher Kantonalbank Zurich Cantonalbank Sells 48,991 Shares of Atlassian Co. (NASDAQ:TEAM)

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of Atlassian Co. (NASDAQ:TEAM) by 62.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 29,111 shares of the technology company’s stock after selling 48,991 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Atlassian were worth $6,924,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TEAM. Graypoint LLC lifted its position in Atlassian by 2.4% in the fourth quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock worth $424,000 after buying an additional 42 shares during the last quarter. Legacy Wealth Asset Management LLC increased its stake in Atlassian by 1.4% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock worth $736,000 after purchasing an additional 43 shares during the period. Park National Corp OH increased its stake in Atlassian by 3.5% in the fourth quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock worth $342,000 after purchasing an additional 48 shares during the period. UMB Bank n.a. increased its stake in Atlassian by 5.7% in the fourth quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock worth $248,000 after purchasing an additional 56 shares during the period. Finally, Carmel Capital Partners LLC increased its stake in Atlassian by 28.5% in the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after purchasing an additional 57 shares during the period. 93.03% of the stock is currently owned by institutional investors.

Atlassian Trading Down 1.1 %

Atlassian stock opened at $191.55 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. Atlassian Co. has a 52 week low of $128.02 and a 52 week high of $258.69. The stock has a 50-day moving average price of $201.83 and a 200 day moving average price of $206.64.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. Research analysts predict that Atlassian Co. will post -0.4 earnings per share for the current year.

Insider Activity at Atlassian

In related news, CEO Michael Cannon-Brookes sold 8,241 shares of Atlassian stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $247.60, for a total transaction of $2,040,471.60. Following the completion of the transaction, the chief executive officer now directly owns 387,327 shares in the company, valued at $95,902,165.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Michael Cannon-Brookes sold 8,241 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $247.60, for a total value of $2,040,471.60. Following the completion of the sale, the chief executive officer now directly owns 387,327 shares in the company, valued at $95,902,165.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Gene Liu sold 227 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $212.87, for a total value of $48,321.49. Following the completion of the sale, the chief accounting officer now owns 47,066 shares of the company’s stock, valued at $10,018,939.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 298,930 shares of company stock worth $62,707,908. 40.48% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TEAM has been the topic of a number of recent analyst reports. Citigroup reduced their target price on Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. KeyCorp assumed coverage on Atlassian in a research note on Tuesday, March 19th. They set a “sector weight” rating on the stock. Wells Fargo & Company raised their price target on Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. UBS Group cut their price target on Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. Finally, Mizuho cut their price target on Atlassian from $265.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, April 15th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $224.25.

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.