Insider Selling: Atlassian Co. (NASDAQ:TEAM) Director Sells $1,717,483.32 in Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Friday, June 6th. The stock was sold at an average price of $216.09, for a total value of $1,717,483.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, June 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $208.43, for a total value of $1,656,601.64.
• On Thursday, May 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $205.73, for a total value of $1,635,142.04.
• On Tuesday, May 27th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $210.81, for a total value of $1,675,517.88.
• On Friday, May 23rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $206.57, for a total value of $1,641,818.36.
• On Monday, May 19th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $214.92, for a total value of $1,708,184.16.
• On Friday, May 16th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $221.41, for a total value of $1,759,766.68.
• On Wednesday, May 14th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $225.44, for a total value of $1,791,797.12.
• On Tuesday, May 6th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $206.80, for a total value of $1,643,646.40.
• On Friday, May 2nd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $211.30, for a total value of $1,679,412.40.
• On Friday, April 25th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $229.11, for a total value of $1,820,966.28.

Atlassian Trading Down 1.9%

TEAM opened at $214.51 on Monday. The stock has a market cap of $56.31 billion, a price-to-earnings ratio of -160.08 and a beta of 0.96. The stock’s 50 day moving average price is $209.80 and its 200-day moving average price is $244.62. Atlassian Co. has a one year low of $135.29 and a one year high of $326.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 earnings per share. On average, equities analysts forecast that Atlassian Co. will post -0.34 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Stephens cut their price target on Atlassian from $255.00 to $221.00 and set an “equal weight” rating for the company in a report on Friday, May 2nd. Wells Fargo & Company decreased their target price on Atlassian from $330.00 to $315.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. BMO Capital Markets decreased their target price on Atlassian from $295.00 to $245.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Morgan Stanley decreased their target price on Atlassian from $370.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Finally, Raymond James reiterated an “outperform” rating and issued a $300.00 target price (down from $330.00) on shares of Atlassian in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $285.29.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp bought a new position in Atlassian in the fourth quarter worth approximately $27,000. Clean Yield Group lifted its holdings in shares of Atlassian by 372.0% during the 1st quarter. Clean Yield Group now owns 118 shares of the technology company’s stock valued at $25,000 after purchasing an additional 93 shares during the last quarter. Colonial Trust Co SC lifted its holdings in shares of Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after purchasing an additional 69 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Atlassian during the 4th quarter valued at $38,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in Atlassian in the 4th quarter worth $39,000. Institutional investors own 94.45% of the company’s stock.

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.