Scott Farquhar Sells 7,948 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $265.96, for a total value of $2,113,850.08. Following the completion of the sale, the director now directly owns 158,960 shares of the company’s stock, valued at $42,277,001.60. The trade was a 4.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Monday, November 25th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $264.20, for a total value of $2,099,861.60.
• On Wednesday, November 20th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $244.81, for a total value of $1,945,749.88.
• On Monday, November 11th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $244.84, for a total value of $1,945,988.32.
• On Friday, November 8th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $237.04, for a total value of $1,883,993.92.
• On Monday, November 4th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $219.07, for a total value of $1,741,168.36.
• On Wednesday, October 16th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $189.96, for a total value of $1,509,802.08.
• On Monday, October 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $169.00, for a total value of $1,343,212.00.
• On Thursday, October 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $160.14, for a total value of $1,272,792.72.
• On Monday, September 9th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.82, for a total value of $1,302,041.36.

Atlassian Trading Up 0.9 %

Shares of NASDAQ:TEAM traded up $2.48 during trading on Tuesday, reaching $268.36. 1,380,567 shares of the company traded hands, compared to its average volume of 2,083,469. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $269.40. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. The firm has a fifty day simple moving average of $208.64 and a 200 day simple moving average of $180.38.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The firm’s revenue was up 21.5% on a year-over-year basis. Analysts predict that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Mizuho upped their target price on Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Morgan Stanley upped their target price on Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Canaccord Genuity Group upped their target price on Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, November 1st. UBS Group upped their target price on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird lifted their target price on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.21.

Institutional Investors Weigh In On Atlassian

Several hedge funds have recently modified their holdings of the business. Oddo BHF Asset Management Sas bought a new position in Atlassian in the third quarter worth $11,438,000. Tri Ri Asset Management Corp acquired a new stake in shares of Atlassian in the third quarter valued at $2,584,000. Synovus Financial Corp increased its stake in shares of Atlassian by 26.4% in the third quarter. Synovus Financial Corp now owns 19,962 shares of the technology company’s stock valued at $3,170,000 after buying an additional 4,173 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Atlassian by 143.2% in the third quarter. Tidal Investments LLC now owns 12,605 shares of the technology company’s stock valued at $2,002,000 after buying an additional 7,422 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB increased its position in Atlassian by 59.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 2,901 shares of the technology company’s stock worth $461,000 after purchasing an additional 1,081 shares during the period. 93.03% of the stock is owned by institutional investors.

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.