Atlassian Co. (NASDAQ:TEAM) Director Sells $1,302,041.36 in Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $163.82, for a total transaction of $1,302,041.36. Following the completion of the sale, the director now owns 119,220 shares of the company’s stock, valued at $19,530,620.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, September 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.81, for a total transaction of $1,301,961.88.
• On Tuesday, August 27th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $164.81, for a total transaction of $1,309,909.88.
• 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 transaction of $1,117,011.92.
• On Monday, August 5th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $143.54, for a total transaction of $1,140,855.92.
• On Monday, July 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were 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 transaction 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 transaction of $1,482,143.04.
• On Wednesday, July 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was 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.

Atlassian Stock Performance

NASDAQ TEAM opened at $162.25 on Wednesday. The company’s 50 day moving average is $165.24 and its 200-day moving average is $177.88. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. The firm has a market cap of $42.19 billion, a P/E ratio of -257.54 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the firm posted ($0.21) earnings per share. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. Sell-side analysts predict that Atlassian Co. will post -0.58 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TEAM. Scotiabank cut their price target on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Robert W. Baird cut shares of Atlassian from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $230.00 to $175.00 in a report on Friday, August 2nd. Mizuho cut their price target on shares of Atlassian from $225.00 to $220.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. BMO Capital Markets cut their price target on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a report on Friday, August 2nd. Finally, Oppenheimer lowered their price objective on shares of Atlassian from $250.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and an average target price of $217.69.

Institutional Trading of Atlassian

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. First Trust Direct Indexing L.P. increased its holdings in Atlassian by 1.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock worth $721,000 after acquiring an additional 55 shares during the period. Park National Corp OH increased its holdings in Atlassian by 4.0% during the 1st quarter. Park National Corp OH now owns 1,497 shares of the technology company’s stock worth $292,000 after acquiring an additional 58 shares during the period. Financial Advocates Investment Management increased its holdings in Atlassian by 1.7% during the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after acquiring an additional 62 shares during the period. STF Management LP increased its holdings in Atlassian by 2.6% during the 4th quarter. STF Management LP now owns 2,551 shares of the technology company’s stock worth $607,000 after acquiring an additional 65 shares during the period. Finally, Ameritas Investment Partners Inc. increased its holdings in Atlassian by 1.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock worth $890,000 after acquiring an additional 65 shares during the period. Institutional investors own 93.03% of the company’s stock.

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.