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

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 8,241 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $177.14, for a total value of $1,459,810.74. Following the completion of the transaction, the chief executive officer now directly owns 341,727 shares in the company, valued at approximately $60,533,520.78. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, April 24th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $199.71, for a total value of $1,645,810.11.
• On Monday, April 22nd, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $193.35, for a total value 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 value 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 value 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 value 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 stock was 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.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $172.77 on Thursday. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69. The stock has a market capitalization of $44.82 billion, a price-to-earnings ratio of -274.24 and a beta of 0.63. The business has a 50-day moving average of $198.09 and a 200-day moving average of $206.17. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.07.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the business posted ($0.40) EPS. Atlassian’s revenue was up 29.9% on a year-over-year basis. As a group, sell-side analysts predict that Atlassian Co. will post -0.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

TEAM has been the subject of a number of research reports. Robert W. Baird lowered their target price on Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a report on Friday, April 26th. UBS Group lowered their target price on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Barclays upgraded Atlassian from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $235.00 to $275.00 in a report on Thursday, April 11th. Mizuho lowered their target price on Atlassian from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday, April 26th. Finally, TD Cowen lowered their target price on Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a report on Friday, April 26th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $223.22.

Institutional Investors Weigh In On Atlassian

Several hedge funds have recently bought and sold shares of the company. Graypoint LLC lifted its stake in Atlassian by 2.4% in the 4th quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock valued at $424,000 after purchasing an additional 42 shares during the last quarter. Legacy Wealth Asset Management LLC lifted its stake in Atlassian by 1.4% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock valued at $736,000 after purchasing an additional 43 shares during the last quarter. Park National Corp OH lifted its stake in Atlassian by 3.5% in the 4th quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock valued at $342,000 after purchasing an additional 48 shares during the last quarter. First Trust Direct Indexing L.P. lifted its stake in Atlassian by 1.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock valued at $721,000 after purchasing an additional 55 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in Atlassian by 5.7% during the fourth quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock worth $248,000 after acquiring an additional 56 shares during the last quarter. 93.03% of the stock is currently 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.