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 company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $269.35, for a total transaction of $2,140,793.80. Following the completion of the sale, the director now owns 111,272 shares of the company’s stock, valued at approximately $29,971,113.20. The trade was a 6.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, December 2nd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $265.96, for a total value of $2,113,850.08.
• On Monday, November 25th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was 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 stock was sold at an average price of $244.81, for a total transaction of $1,945,749.88.
• On Monday, November 11th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was 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 stock was sold at an average price of $219.07, for a total transaction 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 shares were sold at an average price of $160.14, for a total transaction of $1,272,792.72.

Atlassian Stock Performance

Shares of NASDAQ:TEAM traded up $8.20 during midday trading on Wednesday, reaching $274.65. 1,738,234 shares of the company’s stock traded hands, compared to its average volume of 1,869,323. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a one year low of $135.29 and a one year high of $287.97. The company has a market cap of $71.53 billion, a price-to-earnings ratio of -175.29 and a beta of 0.80. The stock has a 50 day moving average of $222.27 and a 200 day moving average of $184.57.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the business earned ($0.07) EPS. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlassian

A number of large investors have recently added to or reduced their stakes in TEAM. Asset Dedication LLC lifted its stake in shares of Atlassian by 229.8% in the 2nd quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after purchasing an additional 108 shares during the period. Rothschild Investment LLC bought a new position in Atlassian in the second quarter worth approximately $36,000. GAMMA Investing LLC raised its position in Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares during the period. True Wealth Design LLC grew its position in shares of Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after acquiring an additional 231 shares during the period. Finally, Reston Wealth Management LLC purchased a new stake in shares of Atlassian in the 3rd quarter worth $48,000. Institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Wells Fargo & Company lifted their price objective on shares of Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. KeyCorp upped their price objective on Atlassian from $260.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Truist Financial upped their target price on Atlassian from $160.00 to $200.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, BMO Capital Markets lifted their target price on shares of Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $249.74.

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.