Insider Selling: Atlassian (NASDAQ:TEAM) Director Sells $1,188,688.20 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $155.08, for a total transaction of $1,188,688.20. Following the completion of the sale, the director directly owned 145,635 shares of the company’s stock, valued at $22,585,075.80. This trade represents a 5.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, November 28th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $150.12, for a total value of $1,150,669.80.
• On Wednesday, November 26th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $148.29, for a total value of $1,136,642.85.
• On Monday, November 24th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $146.62, for a total transaction of $1,123,842.30.
• On Friday, November 21st, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $144.02, for a total transaction of $1,103,913.30.
• On Wednesday, November 19th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $147.63, for a total value of $1,131,583.95.
• On Monday, November 17th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $147.41, for a total value of $1,129,897.65.
• On Thursday, November 13th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $153.77, for a total transaction of $1,178,647.05.
• On Monday, November 10th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $158.00, for a total transaction of $1,211,070.00.
• On Friday, November 7th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $155.58, for a total value of $1,192,520.70.
• On Wednesday, November 5th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.66, for a total transaction of $1,246,788.90.

Atlassian Stock Performance

Atlassian stock traded down $0.22 during midday trading on Thursday, reaching $156.54. 1,852,889 shares of the stock traded hands, compared to its average volume of 2,503,511. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The firm has a fifty day moving average price of $155.46 and a two-hundred day moving average price of $177.95. The firm has a market cap of $41.19 billion, a price-to-earnings ratio of -220.48, a PEG ratio of 29.03 and a beta of 0.89. Atlassian Corporation PLC has a fifty-two week low of $139.70 and a fifty-two week high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.83 by $0.21. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the firm earned $0.77 EPS. The firm’s revenue was up 20.6% compared to the same quarter last year. On average, equities research analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Capco Asset Management LLC acquired a new position in Atlassian during the 2nd quarter valued at $25,000. Physician Wealth Advisors Inc. boosted its holdings in Atlassian by 60.4% during the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after purchasing an additional 61 shares in the last quarter. Atlantic Union Bankshares Corp boosted its stake in Atlassian by 19,900.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after buying an additional 199 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after purchasing an additional 161 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in Atlassian during the third quarter worth about $57,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TEAM has been the subject of several recent analyst reports. Truist Financial set a $210.00 price objective on shares of Atlassian in a report on Friday, October 31st. KeyCorp cut their price objective on Atlassian from $250.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday, October 23rd. TD Cowen reduced their target price on Atlassian from $220.00 to $205.00 and set a “hold” rating for the company in a report on Monday, October 27th. Canaccord Genuity Group reissued a “buy” rating and issued a $230.00 price target on shares of Atlassian in a research report on Wednesday, October 22nd. Finally, Zacks Research raised Atlassian from a “strong sell” rating to a “hold” rating in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $240.00.

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.