Scott Farquhar Sells 7,948 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $244.81, for a total value of $1,945,749.88. Following the completion of the transaction, the director now directly owns 214,596 shares of the company’s stock, valued at approximately $52,535,246.76. This represents a 3.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, November 11th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $244.84, for a total transaction of $1,945,988.32.
• On Friday, November 8th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $237.04, for a total transaction of $1,883,993.92.
• On Monday, November 4th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $219.07, for a total value of $1,741,168.36.
• On Wednesday, October 16th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $189.96, for a total transaction of $1,509,802.08.
• On Monday, October 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $169.00, for a total transaction of $1,343,212.00.
• On Thursday, October 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $160.14, for a total transaction of $1,272,792.72.
• On Monday, September 9th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $163.82, for a total value of $1,302,041.36.
• On Tuesday, September 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $163.81, for a total value of $1,301,961.88.
• On Tuesday, August 27th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $164.81, for a total value of $1,309,909.88.

Atlassian Stock Performance

NASDAQ TEAM opened at $260.58 on Friday. The business’s 50 day moving average price is $194.53 and its 200-day moving average price is $176.48. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $262.00. The company has a market cap of $67.86 billion, a P/E ratio of -171.43 and a beta of 0.71. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.07) earnings per share. Sell-side analysts predict that Atlassian Co. will post -0.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TEAM. BMO Capital Markets increased their price target on Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Barclays decreased their target price on Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. KeyCorp upgraded Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price target for the company in a research note on Friday, November 1st. Truist Financial lifted their price objective on shares of Atlassian from $160.00 to $200.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, Robert W. Baird upped their target price on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and an average price target of $244.21.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of TEAM. Price T Rowe Associates Inc. MD lifted its stake in shares of Atlassian by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after acquiring an additional 904,138 shares during the last quarter. Baillie Gifford & Co. increased its stake in Atlassian by 0.9% in the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock worth $1,352,115,000 after purchasing an additional 78,454 shares during the period. State Street Corp lifted its position in shares of Atlassian by 0.3% during the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock worth $565,424,000 after purchasing an additional 8,957 shares during the last quarter. Dragoneer Investment Group LLC purchased a new stake in shares of Atlassian during the second quarter valued at $469,803,000. Finally, Capital International Investors grew its holdings in shares of Atlassian by 6.3% in the first quarter. Capital International Investors now owns 2,436,567 shares of the technology company’s stock worth $475,399,000 after purchasing an additional 144,117 shares during the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

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.