Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,309,909.88 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 7,948 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $164.81, for a total transaction of $1,309,909.88. Following the transaction, the chief executive officer now owns 182,804 shares of the company’s stock, valued at approximately $30,127,927.24. The transaction 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 Wednesday, August 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $140.54, for a total transaction of $1,117,011.92.
• On Monday, August 5th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $143.54, for a total transaction of $1,140,855.92.
• On Monday, July 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $178.96, for a total transaction of $1,422,374.08.
• On Friday, July 19th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $175.91, for a total transaction of $1,398,132.68.
• On Friday, July 12th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $181.21, for a total transaction of $1,440,257.08.
• On Friday, July 5th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $186.48, for a total transaction of $1,482,143.04.
• On Wednesday, July 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $182.62, for a total transaction of $1,451,463.76.
• On Monday, July 1st, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $177.25, for a total transaction of $1,408,783.00.
• On Friday, June 28th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $176.05, for a total transaction of $1,399,245.40.
• On Thursday, June 20th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $156.59, for a total transaction of $1,244,577.32.

Atlassian Stock Down 1.4 %

Shares of TEAM traded down $2.38 during mid-day trading on Wednesday, reaching $161.94. 1,584,017 shares of the stock traded hands, compared to its average volume of 1,792,150. The firm has a market cap of $42.11 billion, a price-to-earnings ratio of -257.05 and a beta of 0.74. The stock has a fifty day simple moving average of $166.06 and a 200 day simple moving average of $180.65. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The business’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.21) earnings per share. Sell-side analysts expect that Atlassian Co. will post -0.57 EPS for the current fiscal year.

Institutional Trading of Atlassian

A number of hedge funds have recently made changes to their positions in the company. Asset Dedication LLC boosted its holdings in Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares during the period. Hollencrest Capital Management boosted its holdings in shares of Atlassian by 383.9% during the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after acquiring an additional 119 shares during the period. Trust Co. of Vermont raised its stake in shares of Atlassian by 2,175.0% during the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of Atlassian during the second quarter valued at about $36,000. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in shares of Atlassian during the first quarter valued at about $40,000. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Analysts Set New Price Targets

TEAM has been the subject of several recent analyst reports. Barclays reduced their price objective on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Robert W. Baird cut shares of Atlassian from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $230.00 to $175.00 in a research note on Friday, August 2nd. JMP Securities raised shares of Atlassian to a “hold” rating in a research note on Friday, August 2nd. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $200.00 to $230.00 in a research note on Friday, August 2nd. Finally, Scotiabank decreased their target price on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $217.69.

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.