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

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $229.11, for a total value of $1,820,966.28. Following the transaction, the director now directly owns 230,492 shares in the company, valued at approximately $52,808,022.12. The trade was a 3.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, April 14th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $202.19, for a total value of $1,607,006.12.
• On Monday, April 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $185.61, for a total value of $1,475,228.28.
• On Wednesday, March 26th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $229.64, for a total value of $1,825,178.72.
• On Monday, March 24th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $234.38, for a total value of $1,862,852.24.
• On Monday, March 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $218.05, for a total value of $1,733,061.40.
• On Friday, February 28th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.61, for a total value of $2,214,392.28.
• On Wednesday, February 26th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $289.77, for a total value of $2,303,091.96.
• On Monday, February 24th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $283.26, for a total value of $2,251,350.48.
• On Friday, February 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $315.69, for a total value of $2,509,104.12.
• On Friday, January 31st, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $308.86, for a total value of $2,454,819.28.

Atlassian Stock Performance

NASDAQ:TEAM opened at $229.83 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The stock has a market cap of $60.22 billion, a PE ratio of -171.51 and a beta of 1.07. The firm’s fifty day simple moving average is $227.77 and its 200-day simple moving average is $244.92.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results 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 return on equity of 17.37% and a negative net margin of 7.22%. Analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TEAM has been the topic of a number of recent analyst reports. Stephens reiterated an “equal weight” rating and issued a $255.00 price objective on shares of Atlassian in a report on Monday, April 14th. Piper Sandler increased their price objective on Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Wells Fargo & Company dropped their price objective on Atlassian from $375.00 to $330.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Scotiabank raised their price target on Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research note on Friday, January 31st. Finally, Cantor Fitzgerald upgraded Atlassian from a “neutral” rating to an “overweight” rating and reduced their price objective for the company from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $301.90.

Institutional Investors Weigh In On Atlassian

A number of large investors have recently added to or reduced their stakes in the business. Clean Yield Group lifted its holdings in Atlassian by 372.0% in the 1st quarter. Clean Yield Group now owns 118 shares of the technology company’s stock valued at $25,000 after purchasing an additional 93 shares in the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Atlassian during the 4th quarter worth $27,000. Colonial Trust Co SC boosted its position in Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock worth $34,000 after purchasing an additional 69 shares during the period. Summit Securities Group LLC purchased a new stake in Atlassian during the 4th quarter worth $38,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in Atlassian in the 4th quarter valued at about $39,000. 94.45% of the stock is owned by institutional investors and hedge funds.

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.