Atlassian Co. (NASDAQ:TEAM) Position Increased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Atlassian Co. (NASDAQ:TEAM - Free Report) by 13.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,502 shares of the technology company's stock after acquiring an additional 3,958 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Atlassian were worth $5,749,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. First Trust Direct Indexing L.P. raised its stake in shares of Atlassian by 1.5% in the first quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company's stock valued at $721,000 after acquiring an additional 55 shares in the last quarter. Park National Corp OH raised its position in Atlassian by 4.0% in the 1st quarter. Park National Corp OH now owns 1,497 shares of the technology company's stock valued at $292,000 after purchasing an additional 58 shares in the last quarter. Atria Wealth Solutions Inc. boosted its stake in shares of Atlassian by 3.2% in the 4th quarter. Atria Wealth Solutions Inc. now owns 1,885 shares of the technology company's stock valued at $448,000 after buying an additional 59 shares during the period. Financial Advocates Investment Management grew 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 buying an additional 62 shares in the last quarter. Finally, STF Management LP grew its position in shares of Atlassian by 2.6% during the fourth quarter. STF Management LP now owns 2,551 shares of the technology company's stock worth $607,000 after buying an additional 65 shares in the last quarter. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Stock Performance

TEAM stock traded down $1.85 on Friday, hitting $165.60. The company's stock had a trading volume of 1,428,692 shares, compared to its average volume of 1,786,460. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The stock has a market cap of $43.06 billion, a price-to-earnings ratio of -265.79 and a beta of 0.74. The firm has a 50 day moving average of $166.26 and a two-hundred day moving average of $180.56.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same period in the prior year, the company earned ($0.21) earnings per share. The business's revenue was up 20.5% compared to the same quarter last year. Equities analysts predict that Atlassian Co. will post -0.57 EPS for the current fiscal year.

Insider Buying and Selling at Atlassian

In other news, CEO Scott Farquhar sold 7,948 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $140.54, for a total transaction of $1,117,011.92. Following the completion of the sale, the chief executive officer now owns 294,076 shares in the company, valued at $41,329,441.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Scott Farquhar sold 7,948 shares of the business's stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $140.54, for a total transaction of $1,117,011.92. Following the transaction, the chief executive officer now directly owns 294,076 shares in the company, valued at $41,329,441.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Rajeev Bashyam Rajan sold 199 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $146.08, for a total transaction of $29,069.92. Following the transaction, the chief technology officer now directly owns 128,957 shares of the company's stock, valued at $18,838,038.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 256,348 shares of company stock worth $42,730,178. 40.48% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TEAM has been the subject of a number of recent research reports. Oppenheimer decreased their price target on shares of Atlassian from $250.00 to $230.00 and set an "outperform" rating for the company in a research note on Friday, August 2nd. The Goldman Sachs Group raised shares of Atlassian from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $200.00 to $230.00 in a research report on Friday, August 2nd. Robert W. Baird downgraded shares of Atlassian from an "outperform" rating to a "neutral" rating and lowered their target price for the stock from $230.00 to $175.00 in a research note on Friday, August 2nd. Truist Financial cut their price target on Atlassian from $200.00 to $160.00 and set a "hold" rating on the stock in a research note on Friday, August 2nd. Finally, Baird R W cut Atlassian from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $217.69.

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.