Scott Farquhar Sells 7,665 Shares of Atlassian (NASDAQ:TEAM) Stock

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $150.12, for a total value of $1,150,669.80. Following the completion of the sale, the director directly owned 168,630 shares of the company’s stock, valued at approximately $25,314,735.60. This represents a 4.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, November 26th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $148.29, for a total value of $1,136,642.85.
• On Monday, November 24th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $146.62, for a total transaction of $1,123,842.30.
• On Friday, November 21st, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $144.02, for a total transaction of $1,103,913.30.
• On Wednesday, November 19th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $147.63, for a total transaction of $1,131,583.95.
• On Monday, November 17th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $147.41, for a total transaction of $1,129,897.65.
• On Thursday, November 13th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $153.77, for a total transaction of $1,178,647.05.
• On Monday, November 10th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $158.00, for a total transaction of $1,211,070.00.
• On Friday, November 7th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $155.58, for a total value of $1,192,520.70.
• On Wednesday, November 5th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.66, for a total value of $1,246,788.90.
• On Monday, November 3rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $172.79, for a total value of $1,324,435.35.

Atlassian Stock Up 1.5%

TEAM opened at $153.91 on Wednesday. The company has a market capitalization of $40.50 billion, a PE ratio of -216.77, a price-to-earnings-growth ratio of 28.59 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. Atlassian Corporation PLC has a fifty-two week low of $139.70 and a fifty-two week high of $326.00. The business has a 50-day moving average of $155.61 and a 200-day moving average of $178.10.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.21. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.The firm’s revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 earnings per share. Equities research analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Institutional Trading of Atlassian

Several hedge funds have recently added to or reduced their stakes in TEAM. Capco Asset Management LLC bought a new position in Atlassian in the 2nd quarter worth approximately $25,000. Physician Wealth Advisors Inc. increased its position in Atlassian by 60.4% during the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after acquiring an additional 61 shares during the period. Atlantic Union Bankshares Corp raised its stake in Atlassian by 19,900.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after purchasing an additional 199 shares during the last quarter. Smithfield Trust Co boosted its holdings in Atlassian by 90.7% in the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company’s stock valued at $34,000 after purchasing an additional 78 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after purchasing an additional 161 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

TEAM has been the subject of several analyst reports. Mizuho lifted their price objective on shares of Atlassian from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Macquarie cut their target price on Atlassian from $250.00 to $240.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Citigroup reiterated a “buy” rating on shares of Atlassian in a research note on Wednesday, October 22nd. Raymond James Financial cut their price objective on Atlassian from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Atlassian in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $240.00.

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.