Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells 8,614 Shares of Stock

Posted by MarketBeat News on Jan 20th, 2023

Atlassian Co. (NASDAQ:TEAM – Get Rating) CEO Scott Farquhar sold 8,614 shares of the stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $150.79, for a total value of $1,298,905.06. Following the sale, the chief executive officer now owns 447,928 shares of the company’s stock, valued at approximately $67,543,063.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

On Thursday, January 5th, Scott Farquhar sold 8,614 shares of Atlassian stock. The stock was sold at an average price of $122.27, for a total value of $1,053,233.78.
On Tuesday, December 27th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $124.60, for a total value of $1,073,304.40.
On Tuesday, December 20th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $136.83, for a total value of $1,178,653.62.
On Friday, December 16th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $146.60, for a total value of $1,262,812.40.
On Wednesday, December 14th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $149.00, for a total value of $1,283,486.00.
On Thursday, December 8th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $135.49, for a total value of $1,167,110.86.
On Monday, December 5th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $135.68, for a total value of $1,168,747.52.
On Monday, November 28th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $126.26, for a total value of $1,087,603.64.
On Tuesday, November 15th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $142.74, for a total value of $1,229,562.36.
On Monday, November 7th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $117.48, for a total value of $1,011,972.72.

Atlassian Trading Up 0.1 %

Shares of NASDAQ:TEAM opened at $148.89 on Friday. Atlassian Co. has a 12-month low of $113.86 and a 12-month high of $352.92. The business’s fifty day simple moving average is $133.33 and its 200-day simple moving average is $190.12. The company has a market capitalization of $38.04 billion, a PE ratio of -167.29 and a beta of 0.80. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 2.08.

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Atlassian (NASDAQ:TEAM – Get Rating) last announced its quarterly earnings results on Thursday, November 3rd. The technology company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.46. Atlassian had a negative return on equity of 71.10% and a negative net margin of 7.60%. The business had revenue of $807.39 million for the quarter, compared to the consensus estimate of $806.42 million. During the same period last year, the business posted ($0.01) EPS. The business’s revenue was up 31.5% compared to the same quarter last year. As a group, equities research analysts predict that Atlassian Co. will post -0.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on TEAM. Morgan Stanley lowered their price objective on Atlassian from $375.00 to $190.00 and set an “overweight” rating for the company in a research note on Friday, November 11th. Mizuho lowered their price objective on Atlassian from $320.00 to $255.00 and set a “buy” rating for the company in a research note on Friday, November 4th. StockNews.com lowered Atlassian from a “hold” rating to a “sell” rating in a research note on Saturday, January 14th. Piper Sandler lowered their price objective on Atlassian from $148.00 to $140.00 in a research note on Tuesday, January 3rd. Finally, Macquarie lowered Atlassian from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $287.00 to $147.00 in a research note on Friday, November 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $237.95.

Institutional Trading of Atlassian

A number of institutional investors have recently made changes to their positions in TEAM. Rosenberg Matthew Hamilton acquired a new stake in shares of Atlassian in the 3rd quarter worth $26,000. Ronald Blue Trust Inc. acquired a new stake in shares of Atlassian in the 2nd quarter worth $36,000. Quent Capital LLC boosted its position in shares of Atlassian by 28.4% in the 2nd quarter. Quent Capital LLC now owns 217 shares of the technology company’s stock worth $41,000 after purchasing an additional 48 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in shares of Atlassian in the 4th quarter worth $42,000. Finally, Crewe Advisors LLC boosted its position in shares of Atlassian by 270.0% in the 2nd quarter. Crewe Advisors LLC now owns 259 shares of the technology company’s stock worth $49,000 after purchasing an additional 189 shares in the last quarter. Institutional investors and hedge funds own 45.50% of the company’s stock.

Atlassian Company Profile

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Atlassian Corporation, through its subsidiaries, designs, develops, licenses, and maintains various software products worldwide. Its products include Jira Software and Jira Work Management, a workflow management system for teams to plan, track, collaborate, and manage work, and projects; Jira Service Management, a service desk product for creating and managing service experiences for various service team providers, including IT, legal, and HR teams; Jira Align for enterprise organizations to build and manage a master plan that maps strategic projects to the various work streams required to deliver them; and Opsgenie, an incident management tool that enables IT teams to plan for and respond to service disruptions.