Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar Sells 7,948 Shares

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $289.77, for a total transaction of $2,303,091.96. Following the completion of the transaction, the director now directly owns 182,804 shares of the company’s stock, valued at $52,971,115.08. This represents a 4.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, February 24th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $283.26, for a total value of $2,251,350.48.
• On Friday, February 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $315.69, for a total value of $2,509,104.12.
• 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 transaction 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 shares were 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 stock was sold at an average price of $269.35, for a total value of $2,140,793.80.
• On Monday, December 2nd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $265.96, for a total value of $2,113,850.08.

Atlassian Trading Down 3.6 %

TEAM stock traded down $10.28 during trading on Thursday, hitting $278.48. The company had a trading volume of 1,472,428 shares, compared to its average volume of 2,015,009. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The company has a 50 day simple moving average of $274.16 and a 200-day simple moving average of $226.35. The firm has a market capitalization of $72.96 billion, a P/E ratio of -207.82 and a beta of 0.87. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM) last issued 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%. As a group, research analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on TEAM shares. Robert W. Baird upped their price objective on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Raymond James reiterated an “outperform” rating and set a $330.00 price objective (up previously from $250.00) on shares of Atlassian in a research report on Friday, January 31st. StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a research note on Friday, February 21st. Citigroup upped their target price on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Finally, KeyCorp lifted their price target on Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $319.71.

Institutional Investors Weigh In On Atlassian

A number of institutional investors and hedge funds have recently bought and sold shares of TEAM. Creative Planning increased its stake in shares of Atlassian by 32.3% during the third quarter. Creative Planning now owns 7,947 shares of the technology company’s stock valued at $1,262,000 after buying an additional 1,941 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in Atlassian by 36.5% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 1,869 shares of the technology company’s stock valued at $297,000 after purchasing an additional 500 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Atlassian by 17.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,724 shares of the technology company’s stock valued at $4,470,000 after purchasing an additional 4,111 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Atlassian by 96.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 7,730 shares of the technology company’s stock worth $1,228,000 after purchasing an additional 3,797 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its stake in shares of Atlassian by 145.7% during the third quarter. J.W. Cole Advisors Inc. now owns 3,899 shares of the technology company’s stock valued at $619,000 after purchasing an additional 2,312 shares in the last quarter. 94.45% of the stock is owned by institutional investors.

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.