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 that occurred on Wednesday, December 18th. The shares were sold at an average price of $258.33, for a total value of $2,053,206.84. Following the completion of the sale, the director now directly owns 63,584 shares of the company’s stock, valued at approximately $16,425,654.72. This represents a 11.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• 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 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 shares were sold at an average price of $264.20, for a total transaction 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 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 stock was 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 stock was 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 shares were sold at an average price of $160.14, for a total transaction of $1,272,792.72.

Atlassian Price Performance

Atlassian stock opened at $257.26 on Friday. The stock has a market cap of $67.00 billion, a P/E ratio of -169.25 and a beta of 0.80. The company has a fifty day simple moving average of $237.54 and a 200-day simple moving average of $190.08. 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 $287.97.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the firm posted ($0.07) EPS. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. Equities analysts expect that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Atlassian

Hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in shares of Atlassian in the 3rd quarter valued at $606,000. Sequoia Financial Advisors LLC lifted its position in Atlassian by 37.0% in the third quarter. Sequoia Financial Advisors LLC now owns 1,925 shares of the technology company’s stock valued at $306,000 after acquiring an additional 520 shares during the last quarter. Paloma Partners Management Co acquired a new position in Atlassian in the third quarter valued at $1,588,000. Impax Asset Management Group plc grew its holdings in shares of Atlassian by 590.6% during the third quarter. Impax Asset Management Group plc now owns 37,402 shares of the technology company’s stock worth $5,940,000 after purchasing an additional 31,986 shares during the last quarter. Finally, Parnassus Investments LLC increased its position in shares of Atlassian by 322.9% during the third quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after purchasing an additional 245,286 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on TEAM. UBS Group boosted their price target on shares of Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Truist Financial boosted their target price on Atlassian from $200.00 to $250.00 and gave the company a “hold” rating in a research report on Thursday, December 12th. BMO Capital Markets raised their price target on Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Canaccord Genuity Group boosted their price objective on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a report on Friday. Finally, Scotiabank raised their target price on Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Ten investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $258.00.

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.