Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,401,382.05 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $170.05, for a total value of $1,401,382.05. Following the completion of the sale, the chief executive officer now directly owns 185,148 shares in the company, valued at $31,484,417.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Scott Farquhar also recently made the following trade(s):

• On Friday, May 17th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $181.34, for a total value of $1,494,422.94.
• On Friday, May 3rd, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $183.51, for a total transaction of $1,512,305.91.
• On Monday, April 29th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $177.14, for a total transaction of $1,459,810.74.
• On Wednesday, April 24th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $199.71, for a total transaction of $1,645,810.11.
• On Monday, April 22nd, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $193.35, for a total transaction of $1,593,397.35.
• On Friday, April 12th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $207.36, for a total value of $1,708,853.76.
• On Thursday, March 28th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $194.67, for a total value of $1,604,275.47.
• On Friday, March 22nd, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $192.73, for a total value of $1,588,287.93.
• On Monday, March 18th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.25, for a total transaction of $1,625,537.25.
• On Monday, March 11th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $214.32, for a total value of $1,766,211.12.

Atlassian Stock Performance

Shares of TEAM traded down $5.32 during mid-day trading on Friday, reaching $168.86. 1,927,901 shares of the company’s stock were exchanged, compared to its average volume of 1,697,908. The business’s fifty day simple moving average is $189.88 and its 200-day simple moving average is $205.58. Atlassian Co. has a 52-week low of $156.44 and a 52-week high of $258.69. The stock has a market capitalization of $43.95 billion, a PE ratio of -271.11 and a beta of 0.67. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The business’s revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.40) earnings per share. On average, equities research analysts expect that Atlassian Co. will post -0.23 earnings per share for the current year.

Hedge Funds Weigh In On Atlassian

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hollencrest Capital Management grew its holdings in shares of Atlassian by 383.9% during the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after buying an additional 119 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Atlassian during the first quarter worth about $40,000. Crewe Advisors LLC purchased a new stake in shares of Atlassian in the first quarter worth about $43,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Atlassian by 271.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after buying an additional 271 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in Atlassian by 255.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock worth $96,000 after acquiring an additional 291 shares during the period. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TEAM has been the topic of several research analyst reports. Barclays raised Atlassian from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $235.00 to $275.00 in a research note on Thursday, April 11th. Mizuho lowered their price objective on Atlassian from $240.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, April 26th. KeyCorp initiated coverage on shares of Atlassian in a research report on Tuesday, March 19th. They set a “sector weight” rating on the stock. Piper Sandler reduced their target price on Atlassian from $225.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. Finally, TD Cowen decreased their price objective on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $223.22.

About Atlassian

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.