Insider Selling: Atlassian Corporation PLC (NASDAQ:TEAM) Director Sells 7,665 Shares of Stock

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the business’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $192.44, for a total transaction of $1,475,052.60. Following the completion of the transaction, the director now owns 45,990 shares in the company, valued at $8,850,315.60. The trade was a 14.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, June 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.68, for a total value of $1,476,892.20.
• On Wednesday, June 18th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $196.44, for a total value of $1,505,712.60.
• On Monday, June 16th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $200.68, for a total value of $1,538,212.20.
• On Thursday, June 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $199.55, for a total transaction of $1,529,550.75.
• On Monday, June 9th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $215.23, for a total transaction of $1,649,737.95.
• On Friday, June 6th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $216.09, for a total value of $1,717,483.32.
• On Tuesday, June 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $208.43, for a total value of $1,656,601.64.
• On Thursday, May 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $205.73, for a total value of $1,635,142.04.
• On Tuesday, May 27th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $210.81, for a total transaction of $1,675,517.88.
• On Friday, May 23rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $206.57, for a total transaction of $1,641,818.36.

Atlassian Trading Down 1.2%

Shares of TEAM stock opened at $198.36 on Thursday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. Atlassian Corporation PLC has a 12-month low of $135.29 and a 12-month high of $326.00. The stock has a market capitalization of $52.07 billion, a P/E ratio of -119.49 and a beta of 0.96. The firm’s 50 day moving average is $209.89 and its 200 day moving average is $238.82.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the business posted $0.89 EPS. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. Research analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TEAM. Voya Investment Management LLC grew its stake in shares of Atlassian by 24.1% during the 1st quarter. Voya Investment Management LLC now owns 2,695,889 shares of the technology company’s stock valued at $571,894,000 after purchasing an additional 523,035 shares during the period. 1248 Management LLC bought a new stake in Atlassian during the first quarter valued at approximately $413,000. First Hawaiian Bank purchased a new stake in Atlassian during the first quarter valued at approximately $292,000. Strs Ohio bought a new position in Atlassian in the first quarter worth approximately $21,914,000. Finally, Diker Management LLC purchased a new position in shares of Atlassian during the 1st quarter worth $849,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TEAM shares. BMO Capital Markets cut their price objective on shares of Atlassian from $295.00 to $245.00 and set an “outperform” rating on the stock in a report on Friday, May 2nd. Macquarie cut their price target on Atlassian from $270.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Piper Sandler reiterated an “overweight” rating and set a $300.00 price objective (down previously from $365.00) on shares of Atlassian in a research note on Friday, May 2nd. Barclays dropped their target price on Atlassian from $350.00 to $260.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Finally, Cantor Fitzgerald upgraded Atlassian from a “neutral” rating to an “overweight” rating and reduced their price target for the company from $304.00 to $272.00 in a report on Wednesday, April 2nd. Four analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $282.19.

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.