Scott Farquhar Sells 7,665 Shares of Atlassian (NASDAQ:TEAM) Stock

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $160.70, for a total transaction of $1,231,765.50. Following the sale, the director directly owned 114,975 shares of the company’s stock, valued at $18,476,482.50. The trade was a 6.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, December 5th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.48, for a total transaction of $1,230,079.20.
• On Wednesday, December 3rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $155.08, for a total transaction of $1,188,688.20.
• On Friday, November 28th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $150.12, for a total value of $1,150,669.80.
• On Wednesday, November 26th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $148.29, for a total value of $1,136,642.85.
• On Monday, November 24th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $146.62, for a total value of $1,123,842.30.
• On Friday, November 21st, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $144.02, for a total value of $1,103,913.30.
• On Wednesday, November 19th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $147.63, for a total value of $1,131,583.95.
• On Monday, November 17th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $147.41, for a total transaction of $1,129,897.65.
• On Thursday, November 13th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $153.77, for a total transaction of $1,178,647.05.
• On Monday, November 10th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $158.00, for a total transaction of $1,211,070.00.

Atlassian Trading Up 0.2%

Shares of TEAM opened at $161.73 on Thursday. Atlassian Corporation PLC has a 1-year low of $139.70 and a 1-year high of $326.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The firm’s 50-day moving average price is $155.39 and its 200-day moving average price is $176.17. The firm has a market capitalization of $42.55 billion, a price-to-earnings ratio of -227.79, a PEG ratio of 30.44 and a beta of 0.89.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.83 by $0.21. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.40 billion. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. Atlassian’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same period last year, the business posted $0.77 earnings per share. Sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TEAM shares. Zacks Research upgraded Atlassian from a “strong sell” rating to a “hold” rating in a research report on Monday, November 3rd. Wall Street Zen raised Atlassian from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Mizuho upped their target price on shares of Atlassian from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Macquarie decreased their price target on shares of Atlassian from $250.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Finally, Cowen reissued a “hold” rating on shares of Atlassian in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $240.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. One Wealth Advisors LLC raised its stake in shares of Atlassian by 56.7% in the second quarter. One Wealth Advisors LLC now owns 4,436 shares of the technology company’s stock worth $901,000 after buying an additional 1,606 shares during the period. Allianz Asset Management GmbH grew its stake in shares of Atlassian by 28.6% during the 2nd quarter. Allianz Asset Management GmbH now owns 102,194 shares of the technology company’s stock valued at $20,755,000 after acquiring an additional 22,701 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Atlassian by 3.7% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 258,299 shares of the technology company’s stock worth $52,458,000 after acquiring an additional 9,274 shares in the last quarter. Machina Capital S.A.S. raised its stake in Atlassian by 203.0% during the 2nd quarter. Machina Capital S.A.S. now owns 9,376 shares of the technology company’s stock worth $1,904,000 after acquiring an additional 6,282 shares during the period. Finally, Nicholas Company Inc. lifted its holdings in Atlassian by 10.0% during the second quarter. Nicholas Company Inc. now owns 227,789 shares of the technology company’s stock valued at $46,262,000 after purchasing an additional 20,635 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

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.