Insider Selling: Atlassian Co. (NASDAQ:TEAM) Director Sells 7,948 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $308.86, for a total value of $2,454,819.28. Following the transaction, the director now directly owns 317,920 shares in the company, valued at approximately $98,192,771.20. The trade was a 2.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• 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 shares were sold at an average price of $255.71, for a total value 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 value 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 value 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 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 stock was 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.
• 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.

Atlassian Price Performance

Shares of TEAM traded up $4.62 during midday trading on Monday, reaching $311.40. The stock had a trading volume of 3,122,795 shares, compared to its average volume of 2,232,776. The company’s 50-day moving average is $260.51 and its 200 day moving average is $208.44. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $324.37. 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 company has a market capitalization of $81.10 billion, a price-to-earnings ratio of -232.39 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 18.00% and a negative net margin of 7.22%. On average, equities analysts predict that Atlassian Co. will post -0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. lifted its stake in shares of Atlassian by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after acquiring an additional 78,454 shares during the last quarter. State Street Corp lifted its stake in shares of Atlassian by 0.3% in the 3rd quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after acquiring an additional 8,957 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Atlassian by 5.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock valued at $393,588,000 after acquiring an additional 131,621 shares during the last quarter. FMR LLC lifted its stake in shares of Atlassian by 7.4% in the 3rd quarter. FMR LLC now owns 2,182,980 shares of the technology company’s stock valued at $346,679,000 after acquiring an additional 150,237 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Atlassian by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,149,914 shares of the technology company’s stock valued at $340,453,000 after acquiring an additional 57,911 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. JMP Securities restated a “market perform” rating on shares of Atlassian in a research note on Friday. Piper Sandler lifted their price target on Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday. Canaccord Genuity Group lifted their price target on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Morgan Stanley lifted their price target on Atlassian from $315.00 to $370.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Oppenheimer lifted their price target on Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research report on Friday. Nine investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $318.43.

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.