Insider Selling: Atlassian (NASDAQ:TEAM) Director Sells 7,665 Shares of Stock

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $163.16, for a total value of $1,250,621.40. Following the transaction, the director owned 68,985 shares of the company’s stock, valued at $11,255,592.60. The trade was a 10.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Monday, December 15th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $158.92, for a total transaction of $1,218,121.80.
• On Friday, December 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.11, for a total transaction of $1,242,573.15.
• On Wednesday, December 10th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.79, for a total value of $1,240,120.35.
• On Monday, December 8th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were 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 transaction of $1,230,079.20.
• On Wednesday, December 3rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $155.08, for a total transaction 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 transaction 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 shares were sold at an average price of $144.02, for a total value of $1,103,913.30.

Atlassian Stock Performance

Shares of NASDAQ:TEAM traded up $3.02 during mid-day trading on Thursday, reaching $165.00. 2,183,244 shares of the company traded hands, compared to its average volume of 2,494,429. Atlassian Corporation PLC has a 52 week low of $139.70 and a 52 week high of $326.00. The firm has a market cap of $43.41 billion, a PE ratio of -232.39, a PEG ratio of 30.10 and a beta of 0.89. The company’s 50 day moving average price is $156.48 and its 200-day moving average price is $174.53. 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 announced its quarterly earnings data 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 business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the business earned $0.77 earnings per share. The business’s revenue was up 20.6% on a year-over-year basis. On average, equities analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

TEAM has been the subject of a number of research analyst reports. KeyCorp decreased their price target on Atlassian from $250.00 to $210.00 and set an “overweight” rating for the company in a research note on Thursday, October 23rd. The Goldman Sachs Group reiterated a “buy” rating and set a $260.00 price target on shares of Atlassian in a research note on Friday, October 31st. Cowen reiterated a “hold” rating on shares of Atlassian in a research report on Monday, October 27th. BTIG Research began coverage on shares of Atlassian in a research report on Tuesday. They set a “buy” rating and a $220.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Atlassian in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $239.23.

Institutional Investors Weigh In On Atlassian

Several institutional investors and hedge funds have recently added to or reduced their stakes in TEAM. Vanguard Group Inc. raised its holdings in shares of Atlassian by 6.0% during the third quarter. Vanguard Group Inc. now owns 18,479,561 shares of the technology company’s stock valued at $2,951,186,000 after acquiring an additional 1,049,483 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in Atlassian by 66.3% in the 2nd quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company’s stock valued at $787,610,000 after buying an additional 1,545,546 shares in the last quarter. State Street Corp increased its position in Atlassian by 1.9% during the third quarter. State Street Corp now owns 3,867,995 shares of the technology company’s stock worth $617,719,000 after purchasing an additional 73,014 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Atlassian by 18.7% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,867,886 shares of the technology company’s stock worth $458,001,000 after buying an additional 451,706 shares during the last quarter. Finally, DNB Asset Management AS raised its position in Atlassian by 266.6% in the third quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company’s stock valued at $448,260,000 after purchasing an additional 2,041,210 shares during the period. Hedge funds and other institutional investors own 94.45% 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.