Atlassian Co. (NASDAQ:TEAM) Director Sells $1,759,766.68 in Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $221.41, for a total transaction of $1,759,766.68. Following the completion of the transaction, the director now directly owns 111,272 shares in the company, valued at approximately $24,636,733.52. This represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, May 19th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $214.92, for a total transaction of $1,708,184.16.
• On Wednesday, May 14th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $225.44, for a total transaction of $1,791,797.12.
• On Tuesday, May 6th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $206.80, for a total transaction of $1,643,646.40.
• On Friday, May 2nd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $211.30, for a total transaction of $1,679,412.40.
• On Friday, April 25th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $229.11, for a total transaction of $1,820,966.28.
• On Monday, April 14th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $202.19, for a total transaction of $1,607,006.12.
• On Monday, April 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $185.61, for a total transaction of $1,475,228.28.
• On Wednesday, March 26th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $229.64, for a total transaction of $1,825,178.72.
• On Monday, March 24th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $234.38, for a total transaction of $1,862,852.24.
• On Monday, March 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $218.05, for a total transaction of $1,733,061.40.

Atlassian Stock Down 2.5%

Shares of NASDAQ:TEAM opened at $209.17 on Thursday. The firm has a market cap of $54.91 billion, a P/E ratio of -156.10 and a beta of 1.06. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The business has a fifty day simple moving average of $213.33 and a 200 day simple moving average of $247.04.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Atlassian’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the company earned $0.89 EPS. Analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on TEAM shares. JMP Securities reiterated a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. Cantor Fitzgerald upgraded shares of Atlassian from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $304.00 to $272.00 in a research report on Wednesday, April 2nd. Scotiabank increased their price target on shares of Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a research report on Friday, January 31st. BMO Capital Markets reduced their price target on shares of Atlassian from $295.00 to $245.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Finally, Robert W. Baird upgraded shares of Atlassian from a “neutral” rating to an “outperform” rating and reduced their price target for the stock from $320.00 to $255.00 in a research report on Monday, April 14th. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $285.29.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Corebridge Financial Inc. raised its position in Atlassian by 0.3% during the 4th quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company’s stock worth $2,555,000 after purchasing an additional 35 shares during the last quarter. GeoWealth Management LLC raised its position in Atlassian by 26.8% during the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company’s stock worth $44,000 after purchasing an additional 38 shares during the last quarter. Assetmark Inc. lifted its holdings in Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company’s stock valued at $43,000 after buying an additional 41 shares during the period. Allworth Financial LP boosted its position in Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after acquiring an additional 47 shares during the last quarter. Finally, State of Wyoming boosted its position in Atlassian by 20.3% during the first quarter. State of Wyoming now owns 278 shares of the technology company’s stock valued at $59,000 after acquiring an additional 47 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

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.