Scott Farquhar Sells 7,665 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the business’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $199.55, for a total value of $1,529,550.75. Following the completion of the transaction, the director now directly owns 84,315 shares in the company, valued at approximately $16,825,058.25. This represents a 8.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, June 9th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $215.23, for a total value of $1,649,737.95.
• On Friday, June 6th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $216.09, for a total value of $1,717,483.32.
• On Tuesday, June 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $208.43, for a total value of $1,656,601.64.
• On Thursday, May 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $205.73, for a total value of $1,635,142.04.
• On Tuesday, May 27th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $210.81, for a total value of $1,675,517.88.
• On Friday, May 23rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $206.57, for a total value of $1,641,818.36.
• On Monday, May 19th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $214.92, for a total value of $1,708,184.16.
• On Friday, May 16th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $221.41, for a total value of $1,759,766.68.
• 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 value 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 value of $1,643,646.40.

Atlassian Stock Down 1.3%

Shares of NASDAQ:TEAM opened at $196.82 on Friday. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The firm has a market capitalization of $51.67 billion, a P/E ratio of -146.88 and a beta of 0.96. The stock has a 50 day moving average price of $210.45 and a 200-day moving average price of $243.37. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

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. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the company earned $0.89 EPS. The business’s revenue was up 14.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TEAM. UBS Group cut their price objective on Atlassian from $230.00 to $215.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Cantor Fitzgerald upgraded Atlassian from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $304.00 to $272.00 in a report on Wednesday, April 2nd. Robert W. Baird upgraded Atlassian from a “neutral” rating to an “outperform” rating and cut their price objective for the stock from $320.00 to $255.00 in a report on Monday, April 14th. Wall Street Zen cut Atlassian from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Piper Sandler reiterated an “overweight” rating and issued a $300.00 price objective (down from $365.00) on shares of Atlassian in a report on Friday, May 2nd. Five investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Atlassian has an average rating of “Moderate Buy” and an average target price of $282.19.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TEAM. Empowered Funds LLC increased its position in Atlassian by 39.6% during the 4th quarter. Empowered Funds LLC now owns 3,361 shares of the technology company’s stock valued at $818,000 after buying an additional 953 shares in the last quarter. Savant Capital LLC purchased a new stake in Atlassian during the 4th quarter valued at $248,000. Essex Financial Services Inc. boosted its stake in Atlassian by 10.9% during the 4th quarter. Essex Financial Services Inc. now owns 1,244 shares of the technology company’s stock valued at $303,000 after purchasing an additional 122 shares during the last quarter. Gladstone Institutional Advisory LLC purchased a new position in shares of Atlassian in the 4th quarter worth $577,000. Finally, AFT Forsyth & Company Inc. boosted its stake in shares of Atlassian by 2.8% in the 4th quarter. AFT Forsyth & Company Inc. now owns 6,120 shares of the technology company’s stock worth $1,489,000 after buying an additional 165 shares during the last quarter. 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.