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 stock in a transaction on Monday, March 24th. The shares were sold at an average price of $234.38, for a total value of $1,862,852.24. Following the completion of the transaction, the director now directly owns 39,740 shares in the company, valued at $9,314,261.20. This trade represents a 16.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, March 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $218.05, for a total value of $1,733,061.40.
• On Friday, February 28th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.61, for a total value of $2,214,392.28.
• On Wednesday, February 26th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $289.77, for a total transaction of $2,303,091.96.
• On Monday, February 24th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $283.26, for a total transaction of $2,251,350.48.
• On Friday, February 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $315.69, for a total transaction of $2,509,104.12.
• On Friday, January 31st, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $308.86, for a total transaction of $2,454,819.28.
• On Wednesday, January 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $270.63, for a total value of $2,150,967.24.
• On Tuesday, January 21st, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.71, for a total value of $2,032,383.08.
• On Friday, January 17th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $253.01, for a total value of $2,010,923.48.

Atlassian Stock Performance

Shares of TEAM stock opened at $236.22 on Wednesday. The stock has a fifty day moving average price of $271.00 and a 200 day moving average price of $237.85. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market cap of $61.89 billion, a PE ratio of -176.28 and a beta of 0.91. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Sell-side analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

TEAM has been the topic of a number of recent research reports. JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a report on Friday, January 31st. Mizuho lifted their price objective on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. Macquarie increased their target price on shares of Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Truist Financial restated a “buy” rating and issued a $350.00 price target (up previously from $300.00) on shares of Atlassian in a research report on Friday, January 31st. Finally, Canaccord Genuity Group increased their price objective on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Nine investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $316.77.

Institutional Trading of Atlassian

Several large investors have recently modified their holdings of TEAM. Massachusetts Financial Services Co. MA purchased a new stake in Atlassian in the 4th quarter valued at approximately $687,486,000. Voya Investment Management LLC lifted its position in shares of Atlassian by 17,941.0% in the fourth quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company’s stock valued at $528,693,000 after acquiring an additional 2,160,810 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock valued at $1,042,737,000 after acquiring an additional 1,806,042 shares during the last quarter. Invesco Ltd. increased its position in Atlassian by 265.9% during the 4th quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock worth $595,171,000 after purchasing an additional 1,777,179 shares in the last quarter. Finally, Durable Capital Partners LP raised its stake in Atlassian by 499.7% in the 4th quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company’s stock valued at $383,456,000 after purchasing an additional 1,312,820 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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.