Scott Farquhar Sells 7,948 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $253.01, for a total value of $2,010,923.48. Following the completion of the sale, the director now directly owns 389,452 shares in the company, valued at approximately $98,535,250.52. The trade was a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, December 18th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $258.33, for a total transaction of $2,053,206.84.
• On Tuesday, December 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $269.35, for a total transaction of $2,140,793.80.
• On Monday, December 2nd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $265.96, for a total transaction of $2,113,850.08.
• On Monday, November 25th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $264.20, for a total value of $2,099,861.60.
• On Wednesday, November 20th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $244.81, for a total value of $1,945,749.88.
• On Monday, November 11th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $244.84, for a total transaction of $1,945,988.32.
• On Friday, November 8th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $237.04, for a total value of $1,883,993.92.
• On Monday, November 4th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $219.07, for a total value of $1,741,168.36.

Atlassian Price Performance

Shares of Atlassian stock traded down $1.89 during trading on Friday, reaching $252.36. 1,192,393 shares of the stock traded hands, compared to its average volume of 1,794,803. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market capitalization of $65.72 billion, a price-to-earnings ratio of -166.03 and a beta of 0.83. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $287.97. The business has a fifty day simple moving average of $256.07 and a two-hundred day simple moving average of $201.44.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.07) EPS. Sell-side analysts expect that Atlassian Co. will post -0.55 EPS for the current year.

Hedge Funds Weigh In On Atlassian

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in Atlassian by 22.9% in the fourth quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock worth $71,000 after buying an additional 54 shares during the last quarter. Legacy Wealth Asset Management LLC raised its holdings in shares of Atlassian by 2.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after buying an additional 70 shares during the period. Brown Brothers Harriman & Co. lifted its stake in shares of Atlassian by 23.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after acquiring an additional 82 shares during the last quarter. Commerce Bank boosted its holdings in Atlassian by 1.8% during the 3rd quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock valued at $789,000 after acquiring an additional 90 shares during the period. Finally, Signaturefd LLC grew its position in Atlassian by 4.8% in the 3rd quarter. Signaturefd LLC now owns 2,411 shares of the technology company’s stock valued at $383,000 after acquiring an additional 111 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on TEAM shares. Jefferies Financial Group lifted their price target on shares of Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. UBS Group lifted their price objective on Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Truist Financial raised Atlassian from a “hold” rating to a “buy” rating and increased their target price for the company from $250.00 to $300.00 in a report on Tuesday, January 7th. Robert W. Baird boosted their price target on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Macquarie started coverage on shares of Atlassian in a research note on Thursday, December 12th. They issued a “neutral” rating and a $290.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $272.00.

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.