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

Posted by Jim Brewer on Jan 23rd, 2025

Atlassian Co. (NASDAQ:TEAM – Get Free Report) Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $255.71, for a total value of $2,032,383.08. Following the transaction, the director now directly owns 381,504 shares in the company, valued at $97,554,387.84. This trade represents a 2.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

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 transaction 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 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 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 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 transaction of $1,741,168.36.

Atlassian Price Performance

NASDAQ:TEAM traded up $4.66 on Wednesday, reaching $260.85. 1,341,346 shares of the company’s stock traded hands, compared to its average volume of 1,710,611. The firm has a market cap of $67.93 billion, a PE ratio of -171.61 and a beta of 0.83. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a 50-day simple moving average of $256.71 and a 200-day simple moving average of $203.21. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $287.97.

Atlassian (NASDAQ:TEAM – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the firm earned ($0.07) EPS. The firm’s revenue was up 21.5% compared to the same quarter last year. Equities research analysts forecast that Atlassian Co. will post -0.55 earnings per share for the current year.

Institutional Trading of Atlassian

Several hedge funds have recently bought and sold shares of TEAM. GAMMA Investing LLC grew its position in shares of Atlassian by 22.9% during the fourth quarter. GAMMA Investing LLC now owns 290 shares of the technology company’s stock valued at $71,000 after purchasing an additional 54 shares in the last quarter. Legacy Wealth Asset Management LLC grew its holdings 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 valued at $544,000 after buying an additional 70 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in Atlassian by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock worth $69,000 after acquiring an additional 82 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in shares of Atlassian by 2.2% during the 4th quarter. Perigon Wealth Management LLC now owns 3,789 shares of the technology company’s stock worth $963,000 after acquiring an additional 83 shares in the last quarter. Finally, Commerce Bank boosted its position in shares of Atlassian by 1.8% during the 3rd quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock valued at $789,000 after acquiring an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on TEAM. Jefferies Financial Group raised their price objective on Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Canaccord Genuity Group raised their price objective on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 20th. BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. Macquarie started coverage on shares of Atlassian in a research report on Thursday, December 12th. They set a “neutral” rating and a $290.00 price target for the company. Finally, Piper Sandler increased their target price on Atlassian from $265.00 to $310.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $272.00.

View Our Latest Report on Atlassian

About Atlassian

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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.