Atlassian (NASDAQ:TEAM) Director Sells $1,240,120.35 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $161.79, for a total transaction of $1,240,120.35. Following the completion of the transaction, the director owned 99,645 shares in the company, valued at approximately $16,121,564.55. This represents a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, December 8th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $160.70, for a total transaction of $1,231,765.50.
• On Friday, December 5th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $160.48, for a total transaction of $1,230,079.20.
• On Wednesday, December 3rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $155.08, for a total transaction of $1,188,688.20.
• On Friday, November 28th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $150.12, for a total transaction 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 stock was 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 stock was sold at an average price of $144.02, for a total value 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 value 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 value 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 value of $1,178,647.05.

Atlassian Trading Down 0.7%

Shares of Atlassian stock opened at $162.04 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a 50-day moving average of $155.86 and a 200-day moving average of $175.53. Atlassian Corporation PLC has a 52-week low of $139.70 and a 52-week high of $326.00. The stock has a market cap of $42.63 billion, a PE ratio of -228.22, a PEG ratio of 30.56 and a beta of 0.89.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TEAM shares. Robert W. Baird set a $230.00 price target on Atlassian in a research report on Friday, October 31st. Macquarie cut their target price on Atlassian from $250.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Bank of America assumed coverage on Atlassian in a research report on Tuesday, September 23rd. They issued a “neutral” rating and a $200.00 price target on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $260.00 price target on shares of Atlassian in a research note on Friday, October 31st. Finally, Zacks Research upgraded shares of Atlassian from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $240.00.

Institutional Trading of Atlassian

Large investors have recently bought and sold shares of the business. One Wealth Advisors LLC increased its holdings in Atlassian by 56.7% in the second quarter. One Wealth Advisors LLC now owns 4,436 shares of the technology company’s stock worth $901,000 after purchasing an additional 1,606 shares in the last quarter. Allianz Asset Management GmbH grew its position in shares of Atlassian by 28.6% during the 2nd quarter. Allianz Asset Management GmbH now owns 102,194 shares of the technology company’s stock worth $20,755,000 after buying an additional 22,701 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Atlassian by 3.7% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 258,299 shares of the technology company’s stock worth $52,458,000 after buying an additional 9,274 shares during the period. Machina Capital S.A.S. increased its stake in shares of Atlassian by 203.0% in the 2nd quarter. Machina Capital S.A.S. now owns 9,376 shares of the technology company’s stock valued at $1,904,000 after acquiring an additional 6,282 shares in the last quarter. Finally, Nicholas Company Inc. lifted its position in shares of Atlassian by 10.0% during the 2nd quarter. Nicholas Company Inc. now owns 227,789 shares of the technology company’s stock valued at $46,262,000 after acquiring an additional 20,635 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

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.