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

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 8,241 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $183.51, for a total value of $1,512,305.91. Following the sale, the chief executive officer now owns 308,763 shares in the company, valued at approximately $56,661,098.13. The transaction was disclosed in a filing with the SEC, which is accessible 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 transaction of $1,459,810.74.
• On Wednesday, April 24th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $199.71, for a total transaction 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 transaction 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 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 transaction 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 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 stock was 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 value of $1,687,674.39.

Atlassian Stock Performance

NASDAQ TEAM opened at $181.77 on Tuesday. The firm has a market capitalization of $47.31 billion, a P/E ratio of -288.52 and a beta of 0.67. The stock has a 50-day simple moving average of $196.77 and a two-hundred day simple moving average of $205.99. 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.

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 return on equity of 13.95% and a negative net margin of 3.90%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the business earned ($0.40) earnings per share. Atlassian’s quarterly revenue was up 29.9% on a year-over-year basis. On average, equities analysts forecast that Atlassian Co. will post -0.29 earnings per share for the current year.

Hedge Funds Weigh In On Atlassian

Large investors have recently made changes to their positions in the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Atlassian by 12.4% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,263 shares of the technology company’s stock worth $14,763,000 after acquiring an additional 8,073 shares during the period. Arkadios Wealth Advisors acquired a new stake in Atlassian in the fourth quarter valued at approximately $202,000. American Century Companies Inc. increased its position in shares of Atlassian by 58.7% in the third quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock valued at $86,672,000 after buying an additional 159,102 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Atlassian during the 4th quarter worth approximately $13,805,000. Finally, Royal Bank of Canada lifted its position in shares of Atlassian by 17.3% during the 3rd quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock valued at $76,862,000 after buying an additional 56,149 shares in the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TEAM has been the topic of several research reports. KeyCorp initiated coverage on Atlassian in a report on Tuesday, March 19th. They set a “sector weight” rating on the stock. StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a research note on Monday, April 29th. UBS Group reduced their price target on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Citigroup dropped their target price on Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Finally, Truist Financial decreased their price target on Atlassian from $220.00 to $200.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and an average price target 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.