Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,140,855.92 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 7,948 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $143.54, for a total value of $1,140,855.92. Following the completion of the sale, the chief executive officer now owns 309,972 shares of the company’s stock, valued at $44,493,380.88. The transaction 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 Wednesday, August 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $140.54, for a total value of $1,117,011.92.
• On Monday, July 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $178.96, for a total transaction of $1,422,374.08.
• On Friday, July 19th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $175.91, for a total transaction of $1,398,132.68.
• On Friday, July 12th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $181.21, for a total value of $1,440,257.08.
• On Friday, July 5th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $186.48, for a total value of $1,482,143.04.
• On Wednesday, July 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $182.62, for a total transaction of $1,451,463.76.
• On Monday, July 1st, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $177.25, for a total transaction of $1,408,783.00.
• On Friday, June 28th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $176.05, for a total transaction of $1,399,245.40.
• On Thursday, June 20th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $156.59, for a total value of $1,244,577.32.
• On Tuesday, June 18th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $153.84, for a total value of $1,222,720.32.

Atlassian Price Performance

NASDAQ TEAM opened at $138.79 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $258.69. The firm’s 50-day simple moving average is $168.01 and its two-hundred day simple moving average is $189.34.

Atlassian (NASDAQ:TEAM) last announced its quarterly 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 18.13%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same period in the prior year, the company posted ($0.21) EPS. Atlassian’s revenue was up 20.5% compared to the same quarter last year. Research analysts predict that Atlassian Co. will post -0.24 EPS for the current year.

Hedge Funds Weigh In On Atlassian

Several hedge funds have recently made changes to their positions in the stock. Asset Dedication LLC boosted its stake in Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares during the period. Hollencrest Capital Management lifted its holdings in shares of Atlassian by 383.9% in 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. Trust Co. of Vermont grew its stake in Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after acquiring an additional 174 shares in the last quarter. Rothschild Investment LLC purchased a new position in Atlassian during the second quarter valued at approximately $36,000. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in Atlassian during the 1st quarter worth approximately $40,000. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TEAM. Morgan Stanley lowered their target price on Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 17th. Robert W. Baird cut Atlassian from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $230.00 to $175.00 in a research note on Friday, August 2nd. Wells Fargo & Company dropped their price target on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Canaccord Genuity Group reduced their price objective on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Finally, Mizuho dropped their target price on shares of Atlassian from $225.00 to $220.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company currently has an average 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.