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

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $264.20, for a total value of $2,099,861.60. Following the completion of the sale, the director now directly owns 190,752 shares in the company, valued at $50,396,678.40. This represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, November 20th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $244.81, for a total transaction of $1,945,749.88.
• 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 transaction of $1,945,988.32.
• On Friday, November 8th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $237.04, for a total transaction 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 value of $1,741,168.36.
• On Wednesday, October 16th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $189.96, for a total value of $1,509,802.08.
• On Monday, October 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $169.00, for a total value of $1,343,212.00.
• On Thursday, October 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was 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 stock was sold at an average price of $163.81, for a total value of $1,301,961.88.

Atlassian Stock Up 0.5 %

TEAM stock traded up $1.23 during trading on Tuesday, reaching $262.23. 1,344,872 shares of the stock were exchanged, compared to its average volume of 1,874,493. The firm’s 50 day moving average is $198.38 and its 200 day moving average is $177.54. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $269.40. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm has a market cap of $68.29 billion, a P/E ratio of -171.71 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.07) EPS. As a group, research analysts forecast that Atlassian Co. will post -0.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Morgan Stanley upped their price target on Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Canaccord Genuity Group boosted their price objective on Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Piper Sandler boosted their price objective on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Truist Financial boosted their price objective on Atlassian from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company boosted their price objective on Atlassian from $250.00 to $300.00 and gave the company an “overweight” rating in a research report 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.21.

Hedge Funds Weigh In On Atlassian

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tri Ri Asset Management Corp purchased a new stake in shares of Atlassian in the third quarter worth $2,584,000. Synovus Financial Corp raised its position in shares of Atlassian by 26.4% in the third quarter. Synovus Financial Corp now owns 19,962 shares of the technology company’s stock worth $3,170,000 after buying an additional 4,173 shares in the last quarter. Tidal Investments LLC raised its position in shares of Atlassian by 143.2% in the third quarter. Tidal Investments LLC now owns 12,605 shares of the technology company’s stock worth $2,002,000 after buying an additional 7,422 shares in the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of Atlassian by 59.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 2,901 shares of the technology company’s stock worth $461,000 after buying an additional 1,081 shares in the last quarter. Finally, SkyView Investment Advisors LLC increased its stake in Atlassian by 3.0% in the third quarter. SkyView Investment Advisors LLC now owns 4,128 shares of the technology company’s stock valued at $656,000 after acquiring an additional 122 shares during the last quarter. 93.03% 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.