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 that occurred on Wednesday, December 31st. The stock was sold at an average price of $162.68, for a total transaction of $1,246,942.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, December 29th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.66, for a total transaction of $1,254,453.90.
• On Friday, December 26th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.53, for a total transaction of $1,245,792.45.
• On Friday, December 19th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.40, for a total transaction of $1,244,796.00.
• On Tuesday, December 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.30, for a total transaction of $1,236,364.50.
• 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 value of $1,250,621.40.
• On Monday, December 15th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $158.92, for a total value of $1,218,121.80.
• On Friday, December 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.11, for a total value of $1,242,573.15.
• On Wednesday, December 10th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $161.79, for a total value of $1,240,120.35.
• On Monday, December 8th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.70, for a total value 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.

Atlassian Price Performance

NASDAQ:TEAM opened at $162.14 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 50 day moving average price of $158.04 and a 200-day moving average price of $171.25. Atlassian Corporation PLC has a 1-year low of $139.70 and a 1-year high of $326.00. The firm has a market cap of $42.66 billion, a price-to-earnings ratio of -228.36, a price-to-earnings-growth ratio of 25.11 and a beta of 0.88.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.21. The company had revenue of $1.43 billion during 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 firm’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.77 earnings per share. Equities research analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Institutional Investors Weigh In On Atlassian

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TEAM. Wells Fargo & Company initiated coverage on Atlassian in a research note on Tuesday, September 30th. They set an “overweight” rating and a $216.00 target price for the company. Sanford C. Bernstein upped their price objective on shares of Atlassian from $290.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 18th. Bank of America began coverage on shares of Atlassian in a report on Tuesday, September 23rd. They set a “neutral” rating and a $200.00 price objective on the stock. UBS Group reduced their price target on shares of Atlassian from $215.00 to $185.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Finally, KeyCorp decreased their price target on shares of Atlassian from $250.00 to $210.00 and set an “overweight” rating on the stock in a research note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.23.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.