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 29th. The shares were sold at an average price of $163.66, for a total value of $1,254,453.90. Following the sale, the director owned 15,330 shares in the company, valued at approximately $2,508,907.80. This trade represents a 33.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Friday, December 26th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.53, for a total value of $1,245,792.45.
• 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 Tuesday, December 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.30, for a total transaction of $1,236,364.50.
• On Wednesday, December 17th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.16, for a total transaction 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 shares were 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 stock was 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 value 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.

Atlassian Stock Performance

Atlassian stock opened at $162.93 on Wednesday. The stock has a fifty day moving average price of $158.21 and a 200 day moving average price of $171.38. Atlassian Corporation PLC has a 52 week low of $139.70 and a 52 week high of $326.00. The firm has a market capitalization of $42.87 billion, a P/E ratio of -229.48, a PEG 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 (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.83 by $0.21. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the previous year, the business earned $0.77 EPS. The firm’s revenue was up 20.6% on a year-over-year basis. Equities research analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on TEAM. Macquarie decreased their price target on shares of Atlassian from $250.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Truist Financial set a $210.00 target price on Atlassian in a report on Friday, October 31st. Robert W. Baird set a $230.00 price target on Atlassian in a research note on Friday, October 31st. Wells Fargo & Company assumed coverage on Atlassian in a report on Tuesday, September 30th. They issued an “overweight” rating and a $216.00 price objective on the stock. Finally, UBS Group decreased their target price on Atlassian from $215.00 to $185.00 and set a “neutral” rating for the company in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $239.23.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capco Asset Management LLC acquired a new stake in shares of Atlassian in the second quarter valued at about $25,000. Physician Wealth Advisors Inc. grew its position in 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 acquiring an additional 61 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after purchasing an additional 161 shares during the period. Atlantic Union Bankshares Corp raised its stake in shares of Atlassian by 19,900.0% during 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 period. Finally, State of Wyoming lifted its position in shares of Atlassian by 20.3% during the first quarter. State of Wyoming now owns 278 shares of the technology company’s stock worth $59,000 after purchasing an additional 47 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

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.