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

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $253.01, for a total transaction of $2,010,923.48. Following the transaction, the director now directly owns 389,452 shares in the company, valued at approximately $98,535,250.52. This trade represents a 2.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Wednesday, December 18th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $258.33, for a total value of $2,053,206.84.
• On Tuesday, December 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $269.35, for a total transaction of $2,140,793.80.
• On Monday, December 2nd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $265.96, for a total value of $2,113,850.08.
• On Monday, November 25th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $264.20, for a total value of $2,099,861.60.
• On Wednesday, November 20th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $244.81, for a total value of $1,945,749.88.
• On Monday, November 11th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was 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 shares were 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 transaction of $1,741,168.36.

Atlassian Stock Performance

Shares of NASDAQ TEAM traded down $1.89 during midday trading on Friday, hitting $252.36. 1,192,393 shares of the company’s stock were exchanged, compared to its average volume of 1,794,803. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $287.97. The firm has a market cap of $65.72 billion, a P/E ratio of -166.03 and a beta of 0.83. The stock’s 50 day moving average price is $256.07 and its 200-day moving average price is $201.44. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the company posted ($0.07) EPS. Atlassian’s revenue was up 21.5% on a year-over-year basis. Equities research analysts anticipate that Atlassian Co. will post -0.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Scotiabank upped their price objective on shares of Atlassian from $175.00 to $250.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Robert W. Baird raised their price target on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Macquarie started coverage on Atlassian in a research report on Thursday, December 12th. They issued a “neutral” rating and a $290.00 target price on the stock. Citigroup upped their price objective on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a report on Friday. Finally, Wells Fargo & Company upped their target price on Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and a consensus price target of $272.00.

Hedge Funds Weigh In On Atlassian

Several large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Atlassian by 68.6% during the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after acquiring an additional 96 shares during the last quarter. True Wealth Design LLC lifted its holdings in Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after acquiring an additional 231 shares in the last quarter. Reston Wealth Management LLC bought a new stake in shares of Atlassian in the third quarter valued at about $48,000. Quarry LP boosted its position in Atlassian by 143.8% during the second quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after purchasing an additional 220 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in shares of Atlassian by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 436 shares of the technology company’s stock valued at $69,000 after acquiring an additional 82 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

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.