Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar Sells 7,665 Shares

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the stock in a transaction on Friday, July 11th. The stock was sold at an average price of $192.64, for a total value of $1,476,585.60. Following the completion of the sale, the director owned 429,240 shares in the company, valued at approximately $82,688,793.60. The trade was a 1.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, July 9th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $219.98, for a total value of $1,686,146.70.
• On Monday, July 7th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $214.49, for a total value of $1,644,065.85.
• On Thursday, July 3rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $213.97, for a total value of $1,640,080.05.
• On Monday, June 30th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $203.16, for a total value of $1,557,221.40.
• On Friday, June 27th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $203.66, for a total value of $1,561,053.90.
• On Wednesday, June 25th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $199.71, for a total value of $1,530,777.15.
• On Monday, June 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.68, for a total value of $1,476,892.20.
• On Friday, June 20th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.44, for a total value of $1,475,052.60.
• On Wednesday, June 18th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $196.44, for a total value of $1,505,712.60.
• On Monday, June 16th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $200.68, for a total value of $1,538,212.20.

Atlassian Trading Up 2.5%

Shares of NASDAQ:TEAM opened at $191.61 on Tuesday. Atlassian Corporation PLC has a 52-week low of $135.29 and a 52-week high of $326.00. The stock has a market cap of $50.30 billion, a price-to-earnings ratio of -115.43 and a beta of 0.94. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The business has a 50-day moving average price of $207.96 and a 200-day moving average price of $233.70.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period last year, the business posted $0.89 earnings per share. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. Equities analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $300.00 price target (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Morgan Stanley dropped their price target on Atlassian from $370.00 to $320.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company dropped their price target on Atlassian from $330.00 to $315.00 and set an “overweight” rating on the stock in a research report on Friday, May 2nd. Wall Street Zen raised Atlassian from a “hold” rating to a “buy” rating in a research report on Sunday, June 22nd. Finally, BMO Capital Markets dropped their price objective on Atlassian from $295.00 to $245.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and a consensus price target of $285.75.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TEAM. Assetmark Inc. raised its stake in shares of Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock worth $43,000 after purchasing an additional 41 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Atlassian during the fourth quarter valued at approximately $9,429,000. Independent Advisor Alliance raised its position in Atlassian by 45.8% during the fourth quarter. Independent Advisor Alliance now owns 4,360 shares of the technology company’s stock valued at $1,061,000 after acquiring an additional 1,370 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in Atlassian by 9.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 2,099 shares of the technology company’s stock valued at $511,000 after acquiring an additional 174 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Atlassian by 40.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 789 shares of the technology company’s stock valued at $192,000 after acquiring an additional 229 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

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.