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

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $118.19, for a total transaction of $905,926.35. Following the sale, the director directly owned 375,585 shares of the company’s stock, valued at $44,390,391.15. The trade was a 2.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Friday, January 16th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $120.82, for a total transaction of $926,085.30.
• On Wednesday, January 14th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $133.66, for a total value of $1,024,503.90.
• 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 value 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 value of $1,118,400.15.
• On Wednesday, January 7th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were 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 stock was 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 shares were sold at an average price of $156.15, for a total transaction 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 transaction 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 transaction of $1,254,453.90.
• On Friday, December 26th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.53, for a total value of $1,245,792.45.

Atlassian Price Performance

NASDAQ:TEAM traded up $4.35 during trading hours on Wednesday, reaching $122.41. 6,239,912 shares of the company were exchanged, compared to its average volume of 4,449,632. The business has a 50 day moving average of $152.24 and a 200 day moving average of $165.25. Atlassian Corporation PLC has a 1-year low of $115.53 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. The company has a market capitalization of $32.21 billion, a P/E ratio of -172.41, a P/E/G ratio of 18.36 and a beta of 0.88.

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

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Citigroup decreased their target price on shares of Atlassian from $240.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 16th. Canaccord Genuity Group reiterated a “buy” rating and set a $230.00 price objective on shares of Atlassian in a research report on Wednesday, October 22nd. Sanford C. Bernstein increased their target price on Atlassian from $290.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, November 18th. KeyCorp cut their price target on shares of Atlassian from $250.00 to $210.00 and set an “overweight” rating on the stock in a report on Thursday, October 23rd. Finally, Bank of America initiated coverage on Atlassian in a report on Tuesday, September 23rd. They issued a “neutral” rating and a $200.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $235.38.

Institutional Trading of Atlassian

A number of institutional investors have recently bought and sold shares of TEAM. NewEdge Advisors LLC lifted its stake in shares of Atlassian by 71.6% in the 1st quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company’s stock valued at $1,153,000 after purchasing an additional 2,267 shares during the period. Empowered Funds LLC increased its holdings in Atlassian by 39.5% in the first quarter. Empowered Funds LLC now owns 4,689 shares of the technology company’s stock worth $995,000 after purchasing an additional 1,328 shares in the last quarter. Focus Partners Wealth lifted its stake in Atlassian by 32.6% in the first quarter. Focus Partners Wealth now owns 4,122 shares of the technology company’s stock valued at $875,000 after buying an additional 1,014 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after buying an additional 161 shares in the last quarter. Finally, Sivia Capital Partners LLC grew its position in shares of Atlassian by 27.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company’s stock worth $380,000 after buying an additional 404 shares during the period. Institutional investors own 94.45% of the company’s stock.

About Atlassian

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.