Atlassian (NASDAQ:TEAM) Director Sells $1,236,364.50 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the business’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $161.30, for a total transaction of $1,236,364.50. Following the sale, the director directly owned 38,325 shares in the company, valued at $6,181,822.50. This trade represents a 16.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, December 19th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.40, for a total value of $1,244,796.00.
• On Wednesday, December 17th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $163.16, for a total value of $1,250,621.40.
• On Monday, December 15th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $158.92, for a total transaction of $1,218,121.80.
• On Friday, December 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.11, for a total transaction of $1,242,573.15.
• On Wednesday, December 10th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $161.79, for a total transaction of $1,240,120.35.
• On Monday, December 8th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.70, for a total transaction of $1,231,765.50.
• 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 shares were sold at an average price of $155.08, for a total value 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.

Atlassian Trading Down 1.1%

Shares of NASDAQ:TEAM opened at $160.53 on Friday. 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 12-month low of $139.70 and a 12-month high of $326.00. The business has a 50 day moving average of $158.00 and a two-hundred day moving average of $172.72. The company has a market capitalization of $42.24 billion, a PE ratio of -226.09, a PEG ratio of 24.95 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 analysts’ consensus estimates of $0.83 by $0.21. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the company earned $0.77 EPS. The business’s revenue was up 20.6% on a year-over-year basis. As a group, analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Analysts Set New Price Targets

TEAM has been the topic of several recent analyst reports. KeyCorp lowered their target price on shares of Atlassian from $250.00 to $210.00 and set an “overweight” rating on the stock in a research note on Thursday, October 23rd. Canaccord Genuity Group reiterated a “buy” rating and set a $230.00 price target on shares of Atlassian in a research report on Wednesday, October 22nd. Guggenheim began coverage on Atlassian in a research report on Thursday, September 11th. They set a “buy” rating and a $225.00 target price on the stock. Mizuho lifted their price target on shares of Atlassian from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Finally, Robert W. Baird set a $230.00 price objective on shares of Atlassian in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $239.23.

Hedge Funds Weigh In On Atlassian

A number of institutional investors and hedge funds have recently bought and sold shares of TEAM. Capco Asset Management LLC acquired a new stake in Atlassian in the 2nd quarter valued at about $25,000. Physician Wealth Advisors Inc. grew its position in shares of Atlassian by 60.4% in the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after purchasing an additional 61 shares in the last quarter. Atlantic Union Bankshares Corp increased its holdings in shares of Atlassian by 19,900.0% in the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after purchasing an additional 199 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after buying an additional 161 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in Atlassian during the third quarter worth approximately $57,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.