Atlassian Co. (NASDAQ:TEAM) CEO Sells 8,241 Shares

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 8,241 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $183.51, for a total value of $1,512,305.91. Following the completion of the sale, the chief executive officer now directly owns 308,763 shares of the company’s stock, valued at $56,661,098.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, April 29th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $177.14, for a total transaction of $1,459,810.74.
• On Wednesday, April 24th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $199.71, for a total transaction of $1,645,810.11.
• On Monday, April 22nd, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $193.35, for a total transaction of $1,593,397.35.
• On Friday, April 12th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $207.36, for a total value of $1,708,853.76.
• On Thursday, March 28th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $194.67, for a total value of $1,604,275.47.
• On Friday, March 22nd, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $192.73, for a total value of $1,588,287.93.
• On Monday, March 18th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $197.25, for a total value of $1,625,537.25.
• On Monday, March 11th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $214.32, for a total transaction of $1,766,211.12.
• On Friday, March 1st, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $207.85, for a total transaction of $1,712,891.85.
• On Monday, February 26th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $204.79, for a total value of $1,687,674.39.

Atlassian Stock Performance

Shares of TEAM opened at $181.77 on Tuesday. The company has a market capitalization of $47.31 billion, a price-to-earnings ratio of -288.52 and a beta of 0.67. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a 1 year low of $128.02 and a 1 year high of $258.69. The company’s 50 day simple moving average is $196.77 and its 200 day simple moving average is $205.99.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.27. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period last year, the company posted ($0.40) EPS. The business’s quarterly revenue was up 29.9% on a year-over-year basis. On average, sell-side analysts predict that Atlassian Co. will post -0.29 EPS for the current year.

Institutional Trading of Atlassian

Institutional investors have recently modified their holdings of the company. Baillie Gifford & Co. grew its stake in Atlassian by 20.7% during the fourth quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after buying an additional 1,511,318 shares during the period. Morgan Stanley boosted its position in Atlassian by 156.8% during the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock worth $361,449,000 after purchasing an additional 1,095,297 shares during the period. Norges Bank acquired a new stake in Atlassian in the 4th quarter valued at $247,740,000. Vanguard Group Inc. raised its position in Atlassian by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after purchasing an additional 504,181 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Atlassian by 3.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company’s stock worth $2,435,095,000 after purchasing an additional 326,673 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Robert W. Baird cut their price objective on Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Piper Sandler reduced their price objective on shares of Atlassian from $225.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. Canaccord Genuity Group lowered their target price on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. The Goldman Sachs Group lifted their price target on shares of Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Finally, Barclays upgraded Atlassian from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $235.00 to $275.00 in a report on Thursday, April 11th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $223.22.

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.