Insider Selling: Atlassian Corporation PLC (NASDAQ:TEAM) Director Sells 7,665 Shares of Stock

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $189.37, for a total value of $1,451,521.05. Following the completion of the transaction, the director directly owned 406,245 shares in the company, valued at $76,930,615.65. The trade was a 1.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, July 14th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.06, for a total value of $1,472,139.90.
• On Friday, July 11th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.64, for a total value of $1,476,585.60.
• On Wednesday, July 9th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $219.98, for a total value of $1,686,146.70.
• On Monday, July 7th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $214.49, for a total value of $1,644,065.85.
• On Thursday, July 3rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $213.97, for a total transaction of $1,640,080.05.
• On Monday, June 30th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $203.16, for a total value of $1,557,221.40.
• On Friday, June 27th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $203.66, for a total transaction of $1,561,053.90.
• On Wednesday, June 25th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $199.71, for a total transaction of $1,530,777.15.
• On Monday, June 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.68, for a total transaction of $1,476,892.20.
• On Friday, June 20th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.44, for a total value of $1,475,052.60.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $191.02 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a fifty day moving average price of $206.58 and a 200 day moving average price of $232.29. Atlassian Corporation PLC has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The firm has a market cap of $50.14 billion, a price-to-earnings ratio of -114.91 and a beta of 0.94.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. 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 business earned $0.89 earnings per share. Atlassian’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, sell-side analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlassian

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Atlassian by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 16,993,537 shares of the technology company’s stock worth $3,606,198,000 after acquiring an additional 580,583 shares in the last quarter. Baillie Gifford & Co. boosted its stake in Atlassian by 7.1% in the 1st quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company’s stock worth $1,845,114,000 after purchasing an additional 573,696 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Atlassian by 72.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock worth $1,042,737,000 after purchasing an additional 1,806,042 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Atlassian by 21.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,440,813 shares of the technology company’s stock valued at $730,175,000 after acquiring an additional 616,071 shares during the period. Finally, Voya Investment Management LLC lifted its stake in Atlassian by 24.1% during the 1st quarter. Voya Investment Management LLC now owns 2,695,889 shares of the technology company’s stock valued at $571,894,000 after acquiring an additional 523,035 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TEAM shares. Stephens cut their target price on shares of Atlassian from $255.00 to $221.00 and set an “equal weight” rating for the company in a research report on Friday, May 2nd. Robert W. Baird raised shares of Atlassian from a “neutral” rating to an “outperform” rating and cut their price target for the stock from $320.00 to $255.00 in a report on Monday, April 14th. Jefferies Financial Group cut their price target on shares of Atlassian from $330.00 to $262.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Mizuho cut their price target on shares of Atlassian from $290.00 to $265.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Piper Sandler reissued an “overweight” rating and issued a $300.00 price target (down previously from $365.00) on shares of Atlassian in a report on Friday, May 2nd. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $279.81.

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.