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

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the business’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $160.48, for a total transaction of $1,230,079.20. Following the completion of the sale, the director directly owned 130,305 shares in the company, valued at approximately $20,911,346.40. This represents a 5.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, December 3rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $155.08, for a total value of $1,188,688.20.
• On Friday, November 28th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $150.12, for a total value of $1,150,669.80.
• On Wednesday, November 26th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was 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 shares were sold at an average price of $146.62, for a total value of $1,123,842.30.
• On Friday, November 21st, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were 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 stock was 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 shares were 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 stock was 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 shares were 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 shares were sold at an average price of $155.58, for a total transaction of $1,192,520.70.

Atlassian Stock Performance

TEAM stock opened at $160.74 on Tuesday. The firm has a market cap of $42.29 billion, a PE ratio of -226.39, a price-to-earnings-growth ratio of 30.05 and a beta of 0.89. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The stock has a 50-day moving average price of $155.11 and a 200-day moving average price of $176.60. Atlassian Corporation PLC has a 1-year low of $139.70 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.83 by $0.21. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations 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 last year, the firm posted $0.77 earnings per share. As a group, equities research analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Atlassian

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its holdings in Atlassian by 7.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 670,968 shares of the technology company’s stock worth $142,386,000 after purchasing an additional 49,171 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Atlassian by 10.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 141,532 shares of the technology company’s stock valued at $30,035,000 after buying an additional 13,433 shares during the last quarter. Swiss National Bank boosted its position in shares of Atlassian by 0.8% during the first quarter. Swiss National Bank now owns 455,467 shares of the technology company’s stock valued at $96,655,000 after buying an additional 3,400 shares during the last quarter. Citigroup Inc. grew its holdings in Atlassian by 22.5% during the first quarter. Citigroup Inc. now owns 251,814 shares of the technology company’s stock worth $53,437,000 after buying an additional 46,202 shares in the last quarter. Finally, Townsquare Capital LLC raised its position in Atlassian by 41.1% in the 1st quarter. Townsquare Capital LLC now owns 2,896 shares of the technology company’s stock valued at $615,000 after buying an additional 844 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Robert W. Baird set a $230.00 price objective on shares of Atlassian in a research note on Friday, October 31st. BMO Capital Markets raised their price target on shares of Atlassian from $190.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Piper Sandler reiterated an “overweight” rating and set a $300.00 price objective on shares of Atlassian in a report on Friday, October 31st. Wall Street Zen raised shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Finally, Citigroup reaffirmed a “buy” rating on shares of Atlassian in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus 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.