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 that occurred on Friday, May 3rd. The shares were sold at an average price of $183.51, for a total transaction of $1,512,305.91. Following the transaction, the chief executive officer now directly owns 308,763 shares of the company’s stock, valued at $56,661,098.13. 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 Monday, April 29th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $177.14, for a total value of $1,459,810.74.
• 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 stock was 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 stock was 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 stock was 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 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 shares were sold at an average price of $204.79, for a total value of $1,687,674.39.

Atlassian Stock Performance

Shares of TEAM stock opened at $184.12 on Wednesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69. The company has a market capitalization of $47.93 billion, a P/E ratio of -292.25 and a beta of 0.67. The stock has a 50 day moving average price of $196.34 and a two-hundred day moving average price of $205.97.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share 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 analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the company posted ($0.40) EPS. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. Analysts expect that Atlassian Co. will post -0.29 earnings per share for the current year.

Institutional Trading of Atlassian

Large investors have recently modified their holdings of the business. OFI Invest Asset Management purchased a new stake in Atlassian in the 3rd quarter worth approximately $26,000. Hollencrest Capital Management lifted its stake in Atlassian by 383.9% in the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock worth $29,000 after acquiring an additional 119 shares during the period. Carmel Capital Partners LLC lifted its stake in Atlassian by 28.5% in the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after acquiring an additional 57 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its position in Atlassian by 271.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after purchasing an additional 271 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Atlassian by 255.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock worth $96,000 after purchasing an additional 291 shares in the last quarter. 93.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Truist Financial decreased their target price on shares of Atlassian from $220.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, April 26th. TD Cowen reduced their target price on Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Wells Fargo & Company raised their price target on Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Citigroup cut their price objective on Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a report on Friday, April 12th. Finally, William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research note on Friday, February 2nd. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.