Scott Farquhar Sells 8,241 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $199.71, for a total value of $1,645,810.11. Following the completion of the transaction, the chief executive officer now directly owns 366,450 shares of the company’s stock, valued at approximately $73,183,729.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, April 22nd, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $193.35, for a total transaction of $1,593,397.35.
• On Friday, April 12th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $207.36, for a total transaction of $1,708,853.76.
• On Thursday, March 28th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $194.67, for a total transaction of $1,604,275.47.
• On Friday, March 22nd, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $192.73, for a total transaction of $1,588,287.93.
• On Monday, March 18th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $197.25, for a total value of $1,625,537.25.
• On Monday, March 11th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $214.32, for a total value of $1,766,211.12.
• On Friday, March 1st, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $207.85, for a total transaction of $1,712,891.85.
• On Monday, February 26th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $204.79, for a total transaction of $1,687,674.39.
• On Tuesday, February 20th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $204.63, for a total transaction of $1,686,355.83.
• On Monday, February 12th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $218.32, for a total value of $1,799,175.12.

Atlassian Trading Down 9.6 %

Shares of TEAM opened at $179.45 on Friday. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. The company’s fifty day moving average is $199.98 and its 200 day moving average is $206.53. The stock has a market capitalization of $46.55 billion, a PE ratio of -120.44 and a beta of 0.63.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Sell-side analysts expect that Atlassian Co. will post -0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlassian

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. OFI Invest Asset Management bought a new position in shares of Atlassian during the 3rd quarter valued at approximately $26,000. Carmel Capital Partners LLC boosted its stake in Atlassian by 28.5% during the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after buying an additional 57 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its position in Atlassian by 271.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after acquiring an additional 271 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Atlassian by 255.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock valued at $96,000 after acquiring an additional 291 shares during the period. Finally, Operose Advisors LLC bought a new stake in shares of Atlassian in the 3rd quarter worth about $99,000. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TEAM has been the subject of several recent research reports. Barclays raised Atlassian from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $235.00 to $275.00 in a report on Thursday, April 11th. Piper Sandler reduced their target price on shares of Atlassian from $225.00 to $200.00 and set a “neutral” rating for the company in a report on Friday. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a report on Friday, February 2nd. Oppenheimer reduced their price objective on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday. Finally, TD Cowen lowered their target price on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a research note on Friday. Eleven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $223.22.

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.