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 business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $154.20, for a total value of $1,181,943.00. Following the transaction, the director directly owned 444,570 shares of the company’s stock, valued at $68,552,694. The trade was a 1.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Friday, January 2nd, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $156.15, for a total transaction of $1,196,889.75.
• On Wednesday, December 31st, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.68, for a total transaction of $1,246,942.20.
• On Monday, December 29th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was 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 shares were 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 stock was 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 value 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 stock was 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 shares were 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 shares were sold at an average price of $161.79, for a total value of $1,240,120.35.

Atlassian Stock Performance

NASDAQ:TEAM opened at $160.87 on Thursday. The company has a market capitalization of $42.33 billion, a price-to-earnings ratio of -226.57, a PEG ratio of 24.52 and a beta of 0.88. The business has a 50 day moving average of $157.59 and a 200 day moving average of $169.98. 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 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 EPS for the quarter, beating analysts’ consensus estimates 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 period last year, the business earned $0.77 earnings per share. On average, sell-side analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TEAM. Capco Asset Management LLC purchased a new stake in shares of Atlassian in the 2nd quarter worth about $25,000. Physician Wealth Advisors Inc. lifted its holdings in Atlassian by 60.4% in the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after buying an additional 61 shares during the period. Atlantic Union Bankshares Corp boosted its position 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 acquiring an additional 199 shares in the last quarter. Board of the Pension Protection Fund purchased a new position in shares of Atlassian during the 4th quarter worth approximately $32,000. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after acquiring an additional 161 shares during the period. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TEAM. Citigroup restated a “buy” rating on shares of Atlassian in a research report on Wednesday, October 22nd. Zacks Research raised Atlassian from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. KeyCorp reduced their price target on Atlassian from $250.00 to $210.00 and set an “overweight” rating on the stock in a research report on Thursday, October 23rd. Bank of America initiated coverage on Atlassian in a research report on Tuesday, September 23rd. They issued a “neutral” rating and a $200.00 price objective for the company. Finally, Macquarie dropped their price objective on Atlassian from $250.00 to $240.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. One 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 given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $238.46.

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.