Scott Farquhar Sells 8,241 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $177.38, for a total transaction of $1,461,788.58. Following the completion of the transaction, the chief executive officer now directly owns 346,122 shares in the company, valued at approximately $61,395,120.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, October 25th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $180.20, for a total transaction of $1,485,028.20.
• On Friday, October 13th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $188.52, for a total transaction of $1,553,593.32.
• On Monday, September 25th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $195.87, for a total transaction of $1,614,164.67.
• On Wednesday, September 13th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $209.70, for a total transaction of $1,728,137.70.
• On Monday, September 11th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $212.13, for a total transaction of $1,748,163.33.
• On Tuesday, September 5th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $205.08, for a total transaction of $1,690,064.28.
• On Friday, September 1st, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $204.79, for a total transaction of $1,687,674.39.
• On Friday, August 25th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $187.87, for a total transaction of $1,548,236.67.
• On Wednesday, August 23rd, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $192.45, for a total transaction of $1,585,980.45.
• On Friday, August 18th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $185.80, for a total transaction of $1,531,177.80.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $177.85 on Thursday. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a fifty day moving average price of $195.85 and a 200 day moving average price of $178.35. Atlassian Co. has a 1-year low of $113.86 and a 1-year high of $215.77. The company has a market cap of $45.78 billion, a PE ratio of -94.10 and a beta of 0.70.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.04. Atlassian had a negative return on equity of 61.15% and a negative net margin of 13.77%. The firm had revenue of $939.10 million during the quarter, compared to the consensus estimate of $911.23 million. Sell-side analysts forecast that Atlassian Co. will post -0.48 EPS for the current year.

Institutional Investors Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently bought and sold shares of TEAM. Hall Laurie J Trustee acquired a new stake in Atlassian in the second quarter valued at $28,000. Meeder Asset Management Inc. lifted its holdings in Atlassian by 151.5% in the fourth quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock valued at $31,000 after acquiring an additional 147 shares during the period. Tyler Stone Wealth Management acquired a new stake in Atlassian in the second quarter valued at $34,000. Allworth Financial LP lifted its holdings in Atlassian by 2,411.1% in the first quarter. Allworth Financial LP now owns 226 shares of the technology company’s stock valued at $39,000 after acquiring an additional 217 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Atlassian in the second quarter valued at $41,000. Institutional investors and hedge funds own 53.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. BMO Capital Markets upped their target price on shares of Atlassian from $180.00 to $220.00 and gave the stock a “market perform” rating in a research note on Friday, August 4th. Morgan Stanley reiterated an “overweight” rating and issued a $185.00 price target on shares of Atlassian in a research note on Friday, August 4th. UBS Group began coverage on shares of Atlassian in a research note on Monday, October 2nd. They issued a “neutral” rating and a $225.00 price target on the stock. Truist Financial increased their price target on shares of Atlassian from $150.00 to $200.00 and gave the company a “hold” rating in a research note on Friday, August 4th. Finally, StockNews.com initiated coverage on shares of Atlassian in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $201.29.

About Atlassian

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.