Atlassian (NASDAQ:TEAM) Director Scott Farquhar Sells 7,665 Shares

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $162.11, for a total transaction of $1,242,573.15. Following the completion of the sale, the director owned 91,980 shares in the company, valued at $14,910,877.80. This trade represents a 7.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, December 10th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $161.79, for a total transaction of $1,240,120.35.
• On Monday, December 8th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $160.70, for a total transaction of $1,231,765.50.
• On Friday, December 5th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.48, for a total value of $1,230,079.20.
• On Wednesday, December 3rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $155.08, for a total value of $1,188,688.20.
• 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 stock was 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 value of $1,123,842.30.
• On Friday, November 21st, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $144.02, for a total value 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 transaction of $1,131,583.95.
• On Monday, November 17th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $147.41, for a total transaction of $1,129,897.65.

Atlassian Stock Performance

TEAM stock traded down $2.87 during trading hours on Monday, reaching $159.17. The stock had a trading volume of 2,680,729 shares, compared to its average volume of 2,495,243. The stock has a 50-day simple moving average of $155.86 and a 200 day simple moving average of $175.26. Atlassian Corporation PLC has a fifty-two week low of $139.70 and a fifty-two week high of $326.00. The stock has a market capitalization of $41.88 billion, a PE ratio of -224.18, a price-to-earnings-growth ratio of 30.56 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. One Wealth Advisors LLC grew its position in Atlassian by 56.7% in the second quarter. One Wealth Advisors LLC now owns 4,436 shares of the technology company’s stock valued at $901,000 after acquiring an additional 1,606 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Atlassian by 28.6% in the 2nd quarter. Allianz Asset Management GmbH now owns 102,194 shares of the technology company’s stock valued at $20,755,000 after purchasing an additional 22,701 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Atlassian by 3.7% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 258,299 shares of the technology company’s stock valued at $52,458,000 after purchasing an additional 9,274 shares during the last quarter. Machina Capital S.A.S. increased its position in Atlassian by 203.0% during the 2nd quarter. Machina Capital S.A.S. now owns 9,376 shares of the technology company’s stock worth $1,904,000 after purchasing an additional 6,282 shares in the last quarter. Finally, Nicholas Company Inc. lifted its stake in Atlassian by 10.0% in the 2nd quarter. Nicholas Company Inc. now owns 227,789 shares of the technology company’s stock valued at $46,262,000 after purchasing an additional 20,635 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. KeyCorp reduced their target price on Atlassian from $250.00 to $210.00 and set an “overweight” rating for the company in a research note on Thursday, October 23rd. Citigroup reaffirmed a “buy” rating on shares of Atlassian in a research report on Wednesday, October 22nd. The Goldman Sachs Group reissued a “buy” rating and issued a $260.00 price objective on shares of Atlassian in a research report on Friday, October 31st. Guggenheim assumed coverage on shares of Atlassian in a report on Thursday, September 11th. They set a “buy” rating and a $225.00 target price for the company. Finally, BMO Capital Markets increased their price target on shares of Atlassian from $190.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $240.00.

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.