Scott Farquhar Sells 8,614 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM – Get Rating) CEO Scott Farquhar sold 8,614 shares of Atlassian stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $174.78, for a total value of $1,505,554.92. Following the transaction, the chief executive officer now owns 137,824 shares of the company’s stock, valued at $24,088,878.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Tuesday, March 7th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $177.86, for a total value of $1,532,086.04.
• On Thursday, March 2nd, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $164.18, for a total value of $1,414,246.52.
• On Wednesday, February 8th, Scott Farquhar sold 8,614 shares of Atlassian stock. The stock was sold at an average price of $177.09, for a total transaction of $1,525,453.26.
• On Wednesday, February 1st, Scott Farquhar sold 8,614 shares of Atlassian stock. The stock was sold at an average price of $165.11, for a total transaction of $1,422,257.54.
• On Monday, January 30th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $158.42, for a total transaction of $1,364,629.88.
• On Thursday, January 19th, Scott Farquhar sold 8,614 shares of Atlassian stock. The stock was sold at an average price of $147.94, for a total transaction of $1,274,355.16.
• On Tuesday, January 17th, Scott Farquhar sold 8,614 shares of Atlassian stock. The stock was sold at an average price of $150.79, for a total transaction of $1,298,905.06.
• On Thursday, January 5th, Scott Farquhar sold 8,614 shares of Atlassian stock. The stock was sold at an average price of $122.27, for a total transaction of $1,053,233.78.
• On Tuesday, December 27th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $124.60, for a total transaction of $1,073,304.40.
• On Tuesday, December 20th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $136.83, for a total transaction of $1,178,653.62.

Atlassian Price Performance

Shares of TEAM opened at $155.78 on Friday. Atlassian Co. has a fifty-two week low of $113.86 and a fifty-two week high of $318.64. The firm’s 50-day simple moving average is $159.68 and its two-hundred day simple moving average is $174.43. The stock has a market cap of $39.92 billion, a PE ratio of -112.88 and a beta of 0.83. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.30 and a current ratio of 1.30.

Atlassian (NASDAQ:TEAM – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The technology company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.33). Atlassian had a negative return on equity of 73.57% and a negative net margin of 11.17%. The company had revenue of $872.70 million during the quarter, compared to the consensus estimate of $842.45 million. Analysts anticipate that Atlassian Co. will post -0.84 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TEAM has been the subject of a number of research analyst reports. Morgan Stanley dropped their price objective on shares of Atlassian from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. Barclays assumed coverage on shares of Atlassian in a research report on Thursday, December 15th. They issued an “equal weight” rating and a $155.00 target price on the stock. StockNews.com upgraded shares of Atlassian from a “sell” rating to a “hold” rating in a research report on Saturday, February 25th. Robert W. Baird decreased their target price on shares of Atlassian from $210.00 to $190.00 and set an “outperform” rating on the stock in a research report on Thursday, December 22nd. Finally, Wells Fargo & Company decreased their target price on shares of Atlassian from $250.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, January 6th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and an average price target of $218.11.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Sector Pension Investment Board bought a new position in Atlassian during the 2nd quarter valued at approximately $1,806,000. Pacer Advisors Inc. increased its holdings in shares of Atlassian by 2.5% in the 3rd quarter. Pacer Advisors Inc. now owns 4,245 shares of the technology company’s stock worth $894,000 after purchasing an additional 105 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Atlassian by 6.4% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 7,521 shares of the technology company’s stock worth $1,584,000 after purchasing an additional 452 shares in the last quarter. Wealthsource Partners LLC increased its holdings in shares of Atlassian by 18.1% in the 2nd quarter. Wealthsource Partners LLC now owns 1,629 shares of the technology company’s stock worth $305,000 after purchasing an additional 250 shares in the last quarter. Finally, Tiger Global Management LLC increased its holdings in shares of Atlassian by 13.2% in the 3rd quarter. Tiger Global Management LLC now owns 1,722,503 shares of the technology company’s stock worth $362,742,000 after purchasing an additional 200,703 shares in the last quarter. Institutional investors own 45.50% of the company’s stock.

Atlassian Company Profile

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Atlassian Corp. is a holding company, which engages in providing team collaboration and productivity software. Its software helps teams organize, discuss, and complete shared work. Its products include Jira Software, Confluence, Jira Service Management, and Trello. The company was founded by Michael Cannon-Brookes and Scott Farquhar in October 2002 and is headquartered in San Francisco, CA.