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

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $270.63, for a total value of $2,150,967.24. Following the sale, the director now directly owns 333,816 shares of the company’s stock, valued at $90,340,624.08. This represents a 2.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, January 21st, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were 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 stock was 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 value 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 transaction 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 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 value of $1,883,993.92.
• On Monday, November 4th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $219.07, for a total transaction of $1,741,168.36.

Atlassian Price Performance

TEAM traded down $4.38 on Thursday, reaching $266.95. 4,014,088 shares of the company’s stock were exchanged, compared to its average volume of 1,860,318. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The stock’s fifty day moving average price is $259.32 and its 200-day moving average price is $206.76. The stock has a market cap of $69.52 billion, a PE ratio of -175.62 and a beta of 0.83. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $287.97.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. Sell-side analysts expect that Atlassian Co. will post -0.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TEAM. Macquarie assumed coverage on Atlassian in a research note on Thursday, December 12th. They issued a “neutral” rating and a $290.00 target price on the stock. UBS Group boosted their price target on shares of Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. KeyCorp increased their target price on shares of Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Scotiabank boosted their price target on shares of Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Finally, BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $255.00 to $292.00 in a report on Friday, January 10th. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $273.19.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of TEAM. Allworth Financial LP boosted its position in shares of Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock worth $404,000 after buying an additional 47 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Atlassian by 22.9% during the 4th quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock valued at $71,000 after acquiring an additional 54 shares in the last quarter. Legacy Wealth Asset Management LLC lifted its position in Atlassian by 2.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after acquiring an additional 70 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Atlassian by 23.2% in the third quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after buying an additional 82 shares during the last quarter. Finally, Perigon Wealth Management LLC lifted its position in shares of Atlassian by 2.2% in the 4th quarter. Perigon Wealth Management LLC now owns 3,789 shares of the technology company’s stock worth $963,000 after buying an additional 83 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Atlassian Company Profile

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.