Atlassian Co. (NASDAQ:TEAM) Director Sells $2,509,104.12 in Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $315.69, for a total value of $2,509,104.12. Following the transaction, the director now directly owns 278,180 shares of the company’s stock, valued at $87,818,644.20. This trade represents a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Friday, January 31st, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $308.86, for a total value 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 transaction 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 transaction of $2,010,923.48.
• On Wednesday, December 18th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $258.33, for a total transaction of $2,053,206.84.
• On Tuesday, December 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $269.35, for a total transaction of $2,140,793.80.
• On Monday, December 2nd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $265.96, for a total value of $2,113,850.08.
• On Monday, November 25th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $264.20, for a total value of $2,099,861.60.
• On Wednesday, November 20th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $244.81, for a total value of $1,945,749.88.
• On Monday, November 11th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $244.84, for a total value of $1,945,988.32.

Atlassian Price Performance

Atlassian stock opened at $314.28 on Monday. The stock has a fifty day moving average of $265.92 and a 200-day moving average of $213.13. The stock has a market capitalization of $82.34 billion, a P/E ratio of -234.54 and a beta of 0.87. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.18 and a current ratio of 1.24. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $324.37.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TEAM. Oppenheimer increased their price objective on shares of Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Raymond James reissued an “outperform” rating and issued a $330.00 price target (up from $250.00) on shares of Atlassian in a report on Friday, January 31st. KeyCorp boosted their price objective on Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Canaccord Genuity Group increased their target price on Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $255.00 to $292.00 in a research note on Friday, January 10th. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $319.71.

Institutional Trading of Atlassian

A number of hedge funds have recently added to or reduced their stakes in TEAM. Sequoia Financial Advisors LLC lifted its stake in shares of Atlassian by 9.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 2,099 shares of the technology company’s stock valued at $511,000 after acquiring an additional 174 shares during the last quarter. Independent Advisor Alliance raised its position in Atlassian by 45.8% in the fourth quarter. Independent Advisor Alliance now owns 4,360 shares of the technology company’s stock valued at $1,061,000 after purchasing an additional 1,370 shares during the last quarter. Johnson Investment Counsel Inc. acquired a new stake in shares of Atlassian during the fourth quarter valued at about $223,000. Daiwa Securities Group Inc. grew its holdings in shares of Atlassian by 42.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 33,240 shares of the technology company’s stock worth $8,090,000 after purchasing an additional 9,841 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Atlassian by 193.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 95,274 shares of the technology company’s stock valued at $23,188,000 after buying an additional 62,812 shares during the period. Institutional investors and hedge funds 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.