Insider Selling: Atlassian Corporation PLC (NASDAQ:TEAM) Director Sells 7,665 Shares of Stock

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the company’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $196.44, for a total transaction of $1,505,712.60. Following the transaction, the director now owns 53,655 shares in the company, valued at $10,539,988.20. The trade was a 12.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, June 16th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $200.68, for a total transaction of $1,538,212.20.
• On Thursday, June 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $199.55, for a total transaction of $1,529,550.75.
• On Monday, June 9th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $215.23, for a total value of $1,649,737.95.
• On Friday, June 6th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $216.09, for a total value of $1,717,483.32.
• On Tuesday, June 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $208.43, for a total value of $1,656,601.64.
• On Thursday, May 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $205.73, for a total value of $1,635,142.04.
• On Tuesday, May 27th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $210.81, for a total value of $1,675,517.88.
• On Friday, May 23rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $206.57, for a total value of $1,641,818.36.
• On Monday, May 19th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $214.92, for a total value of $1,708,184.16.
• On Friday, May 16th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $221.41, for a total value of $1,759,766.68.

Atlassian Stock Down 3.4%

Shares of Atlassian stock opened at $189.53 on Friday. The company has a fifty day moving average price of $210.50 and a 200 day moving average price of $241.10. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. Atlassian Corporation PLC has a twelve month low of $135.29 and a twelve month high of $326.00. The stock has a market cap of $49.75 billion, a price-to-earnings ratio of -114.17 and a beta of 0.96.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the company earned $0.89 EPS. The firm’s revenue was up 14.1% on a year-over-year basis. Equities research analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlassian

A number of institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC lifted its holdings in Atlassian by 24.1% in the 1st quarter. Voya Investment Management LLC now owns 2,695,889 shares of the technology company’s stock worth $571,894,000 after buying an additional 523,035 shares in the last quarter. 1248 Management LLC acquired a new position in Atlassian in the 1st quarter worth $413,000. First Hawaiian Bank acquired a new position in Atlassian in the 1st quarter worth $292,000. Strs Ohio acquired a new position in Atlassian in the 1st quarter worth $21,914,000. Finally, Diker Management LLC acquired a new position in Atlassian in the 1st quarter worth $849,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TEAM shares. KeyCorp cut their price target on Atlassian from $365.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Macquarie cut their price target on Atlassian from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Baird R W upgraded Atlassian from a “hold” rating to a “strong-buy” rating in a report on Monday, April 14th. Wall Street Zen downgraded Atlassian from a “buy” rating to a “hold” rating in a report on Saturday, June 14th. Finally, Morgan Stanley cut their price target on Atlassian from $370.00 to $320.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $282.19.

About Atlassian

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.