Insider Selling: Atlassian (NASDAQ:TEAM) Director Sells $1,218,121.80 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $158.92, for a total value of $1,218,121.80. Following the sale, the director directly owned 76,650 shares of the company’s stock, valued at $12,181,218. The trade was a 9.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, December 17th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.16, for a total transaction of $1,250,621.40.
• On Friday, December 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.11, for a total transaction of $1,242,573.15.
• On Wednesday, December 10th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.79, for a total transaction of $1,240,120.35.
• 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 shares were 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 value 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 value of $1,150,669.80.
• 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 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 value of $1,103,913.30.

Atlassian Stock Performance

NASDAQ TEAM opened at $165.00 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market cap of $43.41 billion, a P/E ratio of -232.39, a P/E/G ratio of 30.55 and a beta of 0.89. The stock has a 50-day moving average of $156.82 and a two-hundred day moving average of $174.46. Atlassian Corporation PLC has a 1-year low of $139.70 and a 1-year high of $326.00.

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

Analyst Ratings Changes

Several equities analysts have commented on TEAM shares. Robert W. Baird set a $230.00 price target on shares of Atlassian in a research note on Friday, October 31st. Sanford C. Bernstein boosted their target price on Atlassian from $290.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 18th. Guggenheim began coverage on Atlassian in a report on Thursday, September 11th. They set a “buy” rating and a $225.00 price target on the stock. Cowen reiterated a “hold” rating on shares of Atlassian in a research note on Monday, October 27th. Finally, TD Cowen cut their target price on shares of Atlassian from $220.00 to $205.00 and set a “hold” rating on the stock in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $239.23.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. DNB Asset Management AS lifted its stake in Atlassian by 266.6% during the third quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company’s stock worth $448,260,000 after purchasing an additional 2,041,210 shares during the last quarter. Norges Bank acquired a new stake in Atlassian during the second quarter worth approximately $377,794,000. Artisan Partners Limited Partnership lifted its position in shares of Atlassian by 66.3% during the 2nd quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company’s stock worth $787,610,000 after buying an additional 1,545,546 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Atlassian by 6.0% in the 3rd quarter. Vanguard Group Inc. now owns 18,479,561 shares of the technology company’s stock valued at $2,951,186,000 after buying an additional 1,049,483 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Atlassian by 145.6% in the 1st quarter. AQR Capital Management LLC now owns 1,715,287 shares of the technology company’s stock valued at $354,858,000 after buying an additional 1,016,902 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

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.