Insider Selling: Atlassian (NASDAQ:TEAM) Director Sells $1,181,943.00 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $154.20, for a total transaction of $1,181,943.00. Following the completion of the transaction, the director directly owned 444,570 shares of the company’s stock, valued at $68,552,694. The trade was a 1.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, January 7th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.11, for a total transaction of $1,234,908.15.
• On Friday, January 2nd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $156.15, for a total transaction of $1,196,889.75.
• On Wednesday, December 31st, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.68, for a total transaction of $1,246,942.20.
• On Monday, December 29th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.66, for a total value of $1,254,453.90.
• On Friday, December 26th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was 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 value 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 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 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 transaction of $1,242,573.15.

Atlassian Stock Performance

TEAM opened at $149.43 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 firm has a 50 day moving average of $157.37 and a two-hundred day moving average of $169.84. The firm has a market capitalization of $39.32 billion, a PE ratio of -210.46, a P/E/G ratio of 24.91 and a beta of 0.88.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 earnings per share 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 firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the business earned $0.77 earnings per share. The business’s quarterly revenue was up 20.6% compared to the same quarter last year. On average, analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Hedge Funds Weigh In On Atlassian

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Atlassian by 6.0% during the third quarter. Vanguard Group Inc. now owns 18,479,561 shares of the technology company’s stock valued at $2,951,186,000 after purchasing an additional 1,049,483 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of Atlassian by 66.3% during the 2nd quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company’s stock worth $787,610,000 after purchasing an additional 1,545,546 shares during the last quarter. State Street Corp lifted its stake in Atlassian by 1.9% in the 3rd quarter. State Street Corp now owns 3,867,995 shares of the technology company’s stock valued at $617,719,000 after buying an additional 73,014 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Atlassian by 18.7% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,867,886 shares of the technology company’s stock worth $458,001,000 after buying an additional 451,706 shares during the last quarter. Finally, DNB Asset Management AS increased its stake in Atlassian by 266.6% during the 3rd quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company’s stock worth $448,260,000 after buying an additional 2,041,210 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on TEAM shares. Macquarie lowered their target price on Atlassian from $250.00 to $240.00 and set an “outperform” rating on the stock in a research note on Monday, November 3rd. TD Cowen dropped their price objective on shares of Atlassian from $220.00 to $205.00 and set a “hold” rating on the stock in a research note on Monday, October 27th. Zacks Research raised shares of Atlassian from a “strong sell” rating to a “hold” rating in a report on Monday, November 3rd. UBS Group lowered their price target on shares of Atlassian from $215.00 to $185.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $260.00 price objective on shares of Atlassian in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned 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, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $238.46.

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.