Zurcher Kantonalbank Zurich Cantonalbank Has $5.08 Million Stock Position in Atlassian Co. (NASDAQ:TEAM)

Posted by Defense World Staff on Aug 13th, 2023

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Atlassian Co. (NASDAQ:TEAM – Free Report) by 424.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,695 shares of the technology company’s stock after acquiring an additional 24,033 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Atlassian were worth $5,083,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of TEAM. Price T Rowe Associates Inc. MD increased its holdings in Atlassian by 2.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,513,417 shares of the technology company’s stock valued at $2,510,987,000 after buying an additional 477,234 shares during the period. WCM Investment Management LLC increased its holdings in Atlassian by 61.6% in the 4th quarter. WCM Investment Management LLC now owns 9,503,757 shares of the technology company’s stock valued at $1,222,943,000 after buying an additional 3,623,862 shares during the period. Franklin Resources Inc. bought a new stake in Atlassian in the 4th quarter valued at $324,141,000. Brown Advisory Inc. increased its holdings in Atlassian by 980.1% in the 4th quarter. Brown Advisory Inc. now owns 2,424,085 shares of the technology company’s stock valued at $311,931,000 after buying an additional 2,199,645 shares during the period. Finally, State Street Corp increased its holdings in Atlassian by 3.8% in the 2nd quarter. State Street Corp now owns 1,707,326 shares of the technology company’s stock valued at $319,953,000 after buying an additional 62,297 shares during the period. Institutional investors and hedge funds own 53.17% of the company’s stock.

Atlassian Stock Performance

Shares of NASDAQ TEAM opened at $197.66 on Friday. The firm’s 50-day simple moving average is $176.64 and its 200 day simple moving average is $166.10. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.67. Atlassian Co. has a 12-month low of $113.86 and a 12-month high of $290.63.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TEAM shares. Morgan Stanley reissued an “overweight” rating and issued a $185.00 price target on shares of Atlassian in a report on Friday, August 4th. Oppenheimer boosted their price target on shares of Atlassian from $200.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, August 4th. Wells Fargo & Company boosted their target price on shares of Atlassian from $200.00 to $230.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Barclays boosted their target price on shares of Atlassian from $165.00 to $195.00 and gave the company an “equal weight” rating in a research note on Friday, August 4th. Finally, KeyCorp boosted their target price on shares of Atlassian from $175.00 to $205.00 in a research note on Tuesday, July 18th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $198.56.

Get Our Latest Report on Atlassian

Insider Buying and Selling

In other Atlassian news, President Anutthara Bharadwaj sold 4,699 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $142.53, for a total transaction of $669,748.47. Following the transaction, the president now directly owns 213,479 shares in the company, valued at approximately $30,427,161.87. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Atlassian news, CEO Michael Cannon-Brookes sold 8,614 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $142.16, for a total transaction of $1,224,566.24. Following the transaction, the chief executive officer now directly owns 269,306 shares in the company, valued at approximately $38,284,540.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Anutthara Bharadwaj sold 4,699 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $142.53, for a total transaction of $669,748.47. Following the transaction, the president now owns 213,479 shares in the company, valued at $30,427,161.87. The disclosure for this sale can be found here. Insiders have sold a total of 335,357 shares of company stock worth $57,436,273 in the last 90 days. Corporate insiders own 43.11% of the company’s stock.

Atlassian Profile

(Free Report)

Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.