Atlassian Co. (NASDAQ:TEAM) Director Sells $1,945,749.88 in Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $244.81, for a total value of $1,945,749.88. Following the completion of the transaction, the director now directly owns 214,596 shares of the company’s stock, valued at approximately $52,535,246.76. This represents a 3.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, November 11th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $244.84, for a total value of $1,945,988.32.
• On Friday, November 8th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $237.04, for a total value of $1,883,993.92.
• On Monday, November 4th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $219.07, for a total transaction of $1,741,168.36.
• On Wednesday, October 16th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $189.96, for a total transaction of $1,509,802.08.
• On Monday, October 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $169.00, for a total transaction of $1,343,212.00.
• On Thursday, October 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $160.14, for a total value of $1,272,792.72.
• On Monday, September 9th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.82, for a total value of $1,302,041.36.
• On Tuesday, September 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $163.81, for a total value of $1,301,961.88.
• On Tuesday, August 27th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $164.81, for a total value of $1,309,909.88.

Atlassian Price Performance

Shares of Atlassian stock opened at $260.58 on Friday. The firm has a market capitalization of $67.86 billion, a PE ratio of -171.43 and a beta of 0.71. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $262.00. The business’s 50-day moving average price is $196.47 and its 200-day moving average price is $177.03.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period last year, the business earned ($0.07) earnings per share. Sell-side analysts forecast that Atlassian Co. will post -0.56 EPS for the current fiscal year.

Institutional Trading of Atlassian

Several hedge funds have recently added to or reduced their stakes in TEAM. Asset Dedication LLC increased its holdings in shares of 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 buying an additional 108 shares during the period. Trust Co. of Vermont lifted its position in Atlassian by 2,175.0% in 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 during the last quarter. Rothschild Investment LLC purchased a new stake in shares of Atlassian during the second quarter valued at approximately $36,000. GAMMA Investing LLC grew its holdings in shares of Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after purchasing an additional 96 shares during the last quarter. Finally, True Wealth Design LLC increased its stake in shares of Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after buying an additional 231 shares during the period. 93.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TEAM has been the subject of several recent research reports. Morgan Stanley lifted their target price on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Barclays lowered their target price on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Baird R W downgraded Atlassian from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Jefferies Financial Group lifted their price target on Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Truist Financial raised their target price on Atlassian from $160.00 to $200.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and a consensus target price of $244.21.

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.