Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,588,287.93 in Stock

Atlassian Co. (NASDAQ:TEAMGet Free Report) CEO Scott Farquhar sold 8,241 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $192.73, for a total value of $1,588,287.93. Following the transaction, the chief executive officer now owns 32,964 shares of the company’s stock, valued at $6,353,151.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

  • On Monday, March 18th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were 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 stock was sold at an average price of $207.85, for a total value 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 value 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 value 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.
  • On Wednesday, January 31st, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $251.76, for a total value of $2,074,754.16.
  • On Monday, January 29th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $253.53, for a total value of $2,089,340.73.
  • On Wednesday, January 24th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $245.64, for a total value of $2,024,319.24.
  • On Tuesday, January 16th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $240.11, for a total value of $1,978,746.51.

Atlassian Price Performance

TEAM opened at $192.53 on Monday. The business’s 50-day moving average is $217.66 and its two-hundred day moving average is $207.34. Atlassian Co. has a 1 year low of $128.02 and a 1 year high of $258.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $49.94 billion, a PE ratio of -129.21 and a beta of 0.64.

Atlassian (NASDAQ:TEAMGet Free Report) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $1.02 billion. Research analysts anticipate that Atlassian Co. will post -0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlassian

Large investors have recently modified their holdings of the business. OFI Invest Asset Management purchased a new stake in shares of Atlassian during the third quarter worth about $26,000. Meeder Asset Management Inc. grew its stake in shares of Atlassian by 151.5% during the fourth quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock worth $31,000 after acquiring an additional 147 shares during the last quarter. Tyler Stone Wealth Management purchased a new stake in shares of Atlassian during the second quarter worth about $34,000. Quarry LP acquired a new stake in shares of Atlassian during the second quarter worth about $44,000. Finally, Harbour Investments Inc. lifted its holdings in shares of Atlassian by 148.8% during the fourth quarter. Harbour Investments Inc. now owns 199 shares of the technology company’s stock worth $47,000 after purchasing an additional 119 shares during the period. Hedge funds and other institutional investors own 53.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on TEAM shares. Citigroup lifted their target price on Atlassian from $215.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. William Blair reiterated an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. KeyCorp initiated coverage on Atlassian in a research note on Tuesday, March 19th. They set a “sector weight” rating on the stock. Truist Financial raised their price target on Atlassian from $180.00 to $220.00 and gave the company a “hold” rating in a research note on Tuesday, January 16th. Finally, Scotiabank initiated coverage on Atlassian in a research note on Friday, December 1st. They set a “sector perform” rating and a $185.00 price target on the stock. Eleven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $225.19.

Check Out Our Latest Report on Atlassian

About Atlassian

(Get Free Report)

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.

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