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 business’s stock in a transaction on Friday, December 26th. The shares were sold at an average price of $162.53, for a total transaction of $1,245,792.45. Following the completion of the transaction, the director directly owned 22,995 shares of the company’s stock, valued at $3,737,377.35. This trade represents a 25.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, December 29th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $163.66, for a total value of $1,254,453.90.
• On Friday, December 19th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.40, for a total value of $1,244,796.00.
• On Tuesday, December 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $161.30, for a total value of $1,236,364.50.
• 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 shares were sold at an average price of $158.92, for a total value of $1,218,121.80.
• On Friday, December 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.11, for a total value 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 stock was 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.

Atlassian Trading Down 0.6%

TEAM opened at $162.93 on Wednesday. The firm’s fifty day simple moving average is $158.21 and its 200 day simple moving average is $171.38. The stock has a market capitalization of $42.87 billion, a P/E ratio of -229.48, a P/E/G ratio of 25.40 and a beta of 0.89. 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.

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

Analyst Ratings Changes

Several brokerages recently commented on TEAM. Cowen restated a “hold” rating on shares of Atlassian in a report on Monday, October 27th. Bank of America started coverage on shares of Atlassian in a research note on Tuesday, September 23rd. They set a “neutral” rating and a $200.00 price objective for the company. Macquarie decreased their price objective on Atlassian from $250.00 to $240.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Citigroup reiterated a “buy” rating on shares of Atlassian in a report on Wednesday, October 22nd. Finally, Robert W. Baird set a $230.00 price target on Atlassian in a research note on Friday, October 31st. One investment 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.com, Atlassian has an average rating of “Moderate Buy” and a consensus target price of $239.23.

Hedge Funds Weigh In On Atlassian

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

About Atlassian

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.