Atlassian Corporation PLC (NASDAQ:TEAM) Director Sells $1,251,387.90 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $163.26, for a total value of $1,251,387.90. Following the sale, the director directly owned 245,280 shares in the company, valued at $40,044,412.80. The trade was a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Monday, August 11th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.51, for a total value of $1,253,304.15.
• On Friday, August 8th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $171.03, for a total value of $1,310,944.95.
• On Wednesday, August 6th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $185.81, for a total transaction of $1,424,233.65.
• On Monday, August 4th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $185.43, for a total transaction of $1,421,320.95.
• On Friday, August 1st, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $184.43, for a total value of $1,413,655.95.
• On Wednesday, July 30th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $197.88, for a total value of $1,516,750.20.
• On Monday, July 28th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $202.05, for a total value of $1,548,713.25.
• On Friday, July 25th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $202.55, for a total value of $1,552,545.75.
• On Wednesday, July 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $202.78, for a total value of $1,554,308.70.
• On Monday, July 21st, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $194.98, for a total value of $1,494,521.70.

Atlassian Trading Up 1.6%

NASDAQ:TEAM opened at $167.00 on Friday. The company has a market cap of $43.84 billion, a P/E ratio of -168.69 and a beta of 0.96. The stock’s fifty day moving average price is $194.44 and its two-hundred day moving average price is $222.16. Atlassian Corporation PLC has a 1 year low of $145.88 and a 1 year high of $326.00. 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 (NASDAQ:TEAM) last posted its earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.15. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. Atlassian had a negative return on equity of 15.19% and a negative net margin of 4.92%. The business’s quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.66 earnings per share. As a group, analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Clean Yield Group boosted its stake in shares of Atlassian by 372.0% during the first quarter. Clean Yield Group now owns 118 shares of the technology company’s stock valued at $25,000 after purchasing an additional 93 shares during the period. Capco Asset Management LLC bought a new stake in Atlassian during the 2nd quarter valued at $25,000. Colonial Trust Co SC raised its holdings in Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after buying an additional 69 shares during the last quarter. Smithfield Trust Co boosted its position in Atlassian by 90.7% during the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company’s stock valued at $34,000 after buying an additional 78 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in Atlassian by 447.2% in 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 last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on TEAM. Truist Financial set a $230.00 target price on Atlassian in a report on Friday, August 8th. Barclays dropped their target price on Atlassian from $244.00 to $215.00 and set an “overweight” rating for the company in a research report on Friday, August 8th. Capital One Financial lowered Atlassian from an “overweight” rating to an “equal weight” rating and set a $211.00 price objective for the company. in a research report on Wednesday, July 16th. Oppenheimer cut their target price on shares of Atlassian from $300.00 to $275.00 and set an “outperform” rating on the stock in a research report on Monday, July 21st. Finally, KeyCorp lowered their price target on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research report on Thursday, July 17th. Five research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $259.76.

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.