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

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $207.36, for a total transaction of $1,708,853.76. Following the completion of the transaction, the chief executive officer now owns 432,378 shares in the company, valued at $89,657,902.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 shares were sold at an average price of $197.25, for a total transaction 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 transaction 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 shares were 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 shares were 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 shares were sold at an average price of $218.32, for a total transaction of $1,799,175.12.
• On Wednesday, January 31st, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $251.76, for a total transaction 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 transaction of $2,089,340.73.

Atlassian Stock Performance

NASDAQ:TEAM opened at $191.84 on Tuesday. The company has a fifty day moving average of $203.83 and a 200-day moving average of $206.83. The firm has a market capitalization of $49.76 billion, a P/E ratio of -128.75 and a beta of 0.63. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04. Atlassian Co. has a twelve month low of $128.02 and a twelve month high of $258.69.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.4 EPS for the current year.

Institutional Trading of Atlassian

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its position in Atlassian by 26.0% in the 1st quarter. BlackRock Inc. now owns 7,563,473 shares of the technology company’s stock valued at $1,294,640,000 after purchasing an additional 1,561,804 shares during the period. Baillie Gifford & Co. grew its position in Atlassian by 20.7% in the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after purchasing an additional 1,511,318 shares during the period. Durable Capital Partners LP acquired a new stake in Atlassian in the 1st quarter valued at $434,144,000. Morgan Stanley grew its position in Atlassian by 156.8% in the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock valued at $361,449,000 after purchasing an additional 1,095,297 shares during the period. Finally, Norges Bank acquired a new stake in Atlassian in the 4th quarter valued at $138,509,000. Institutional investors own 93.03% of the company’s stock.

Analysts Set New Price Targets

TEAM has been the topic of a number of analyst reports. Truist Financial increased their price objective on shares of Atlassian from $180.00 to $220.00 and gave the stock a “hold” rating in a research note on Tuesday, January 16th. The Goldman Sachs Group increased their price objective on shares of Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. UBS Group reduced their price objective on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $235.00 to $275.00 in a research note on Thursday, April 11th. Finally, StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $224.25.

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.