Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,708,853.76 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $207.36, for a total transaction of $1,708,853.76. Following the sale, the chief executive officer now directly owns 432,378 shares in the company, valued at approximately $89,657,902.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, March 28th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $194.67, for a total transaction of $1,604,275.47.
• On Friday, March 22nd, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $192.73, for a total transaction of $1,588,287.93.
• On Monday, March 18th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $197.25, for a total transaction of $1,625,537.25.
• On Monday, March 11th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $214.32, for a total transaction of $1,766,211.12.
• On Friday, March 1st, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $207.85, for a total transaction of $1,712,891.85.
• On Monday, February 26th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $204.79, for a total transaction of $1,687,674.39.
• On Tuesday, February 20th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $204.63, for a total transaction of $1,686,355.83.
• On Monday, February 12th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $218.32, for a total transaction of $1,799,175.12.
• On Wednesday, January 31st, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $251.76, for a total transaction of $2,074,754.16.
• On Monday, January 29th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $253.53, for a total transaction of $2,089,340.73.

Atlassian Price Performance

Shares of NASDAQ TEAM opened at $195.07 on Thursday. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69. The stock has a market cap of $50.60 billion, a price-to-earnings ratio of -130.92 and a beta of 0.63. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. The firm’s 50-day simple moving average is $203.04 and its 200 day simple moving average is $206.74.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.24). Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. As a group, research analysts anticipate that Atlassian Co. will post -0.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlassian

Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in shares of Atlassian by 26.0% during the 1st quarter. BlackRock Inc. now owns 7,563,473 shares of the technology company’s stock worth $1,294,640,000 after buying an additional 1,561,804 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Atlassian by 20.7% during the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after buying an additional 1,511,318 shares in the last quarter. Durable Capital Partners LP bought a new position in shares of Atlassian during the 1st quarter worth approximately $434,144,000. Morgan Stanley lifted its position in shares of Atlassian by 156.8% during the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock worth $361,449,000 after buying an additional 1,095,297 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Atlassian during the 4th quarter worth approximately $138,509,000. Institutional investors own 93.03% of the company’s stock.

Analyst Ratings Changes

TEAM has been the topic of a number of research analyst reports. UBS Group cut their price target on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. Citigroup cut their price target on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research report on Friday, April 12th. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. KeyCorp began coverage on shares of Atlassian in a research report on Tuesday, March 19th. They set a “sector weight” rating on the stock. Finally, StockNews.com lowered shares of Atlassian from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $224.25.

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.