Atlassian (NASDAQ:TEAM) Director Sells $1,024,503.90 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $133.66, for a total value of $1,024,503.90. Following the completion of the transaction, the director owned 398,580 shares of the company’s stock, valued at approximately $53,274,202.80. The trade was a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, January 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $147.15, for a total transaction of $1,127,904.75.
• On Friday, January 9th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $145.91, for a total transaction of $1,118,400.15.
• On Wednesday, January 7th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $161.11, for a total transaction of $1,234,908.15.
• On Monday, January 5th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $154.20, for a total transaction of $1,181,943.00.
• On Friday, January 2nd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $156.15, for a total value of $1,196,889.75.
• On Wednesday, December 31st, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.68, for a total value of $1,246,942.20.
• On Monday, December 29th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.66, for a total value of $1,254,453.90.
• On Friday, December 26th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.53, for a total value of $1,245,792.45.
• On Friday, December 19th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.40, for a total value of $1,244,796.00.
• On Tuesday, December 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $161.30, for a total value of $1,236,364.50.

Atlassian Stock Down 2.7%

Atlassian stock traded down $3.51 during mid-day trading on Thursday, reaching $128.45. The stock had a trading volume of 4,629,087 shares, compared to its average volume of 3,659,400. The company has a market capitalization of $33.80 billion, a price-to-earnings ratio of -180.91, a PEG ratio of 21.35 and a beta of 0.88. 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 Corporation PLC has a one year low of $127.71 and a one year high of $326.00. The company has a 50-day moving average price of $155.18 and a two-hundred day moving average price of $168.02.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.21. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the previous year, the company earned $0.77 earnings per share. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. On average, analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Atlassian

Several institutional investors have recently made changes to their positions in the business. Capco Asset Management LLC purchased a new stake in Atlassian during the second quarter valued at approximately $25,000. Physician Wealth Advisors Inc. grew its position in shares of Atlassian by 60.4% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after acquiring an additional 61 shares during the period. Atlantic Union Bankshares Corp increased its stake in shares of Atlassian by 19,900.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after purchasing an additional 199 shares in the last quarter. Board of the Pension Protection Fund bought a new position in Atlassian in the 4th quarter worth $32,000. Finally, Geneos Wealth Management Inc. lifted its position in Atlassian by 447.2% during the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after purchasing an additional 161 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on TEAM. Weiss Ratings reissued a “sell (e+)” rating on shares of Atlassian in a report on Wednesday, October 8th. Sanford C. Bernstein boosted their target price on Atlassian from $290.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 18th. Cowen reaffirmed a “hold” rating on shares of Atlassian in a report on Monday, October 27th. TD Cowen reduced their price target on shares of Atlassian from $220.00 to $205.00 and set a “hold” rating for the company in a research note on Monday, October 27th. Finally, Truist Financial set a $210.00 price objective on shares of Atlassian in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $238.46.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.