Atlassian Co. (NASDAQ:TEAM) Director Sells $2,303,091.96 in Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $289.77, for a total value of $2,303,091.96. Following the completion of the transaction, the director now owns 182,804 shares in the company, valued at $52,971,115.08. This trade represents a 4.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, February 24th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $283.26, for a total transaction of $2,251,350.48.
• On Friday, February 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $315.69, for a total transaction of $2,509,104.12.
• On Friday, January 31st, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $308.86, for a total transaction of $2,454,819.28.
• On Wednesday, January 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $270.63, for a total value of $2,150,967.24.
• On Tuesday, January 21st, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.71, for a total value of $2,032,383.08.
• On Friday, January 17th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $253.01, for a total value of $2,010,923.48.
• On Wednesday, December 18th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $258.33, for a total transaction of $2,053,206.84.
• On Tuesday, December 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was 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 transaction of $2,113,850.08.

Atlassian Trading Down 3.6 %

NASDAQ:TEAM traded down $10.28 during trading hours on Thursday, hitting $278.48. The company had a trading volume of 1,472,428 shares, compared to its average volume of 2,015,009. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The company has a market cap of $72.96 billion, a P/E ratio of -207.82 and a beta of 0.87. The company has a 50-day moving average of $274.16 and a 200 day moving average of $226.35. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Sell-side analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TEAM. Mizuho upped their target price on Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Barclays increased their price objective on Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. The Goldman Sachs Group lifted their target price on Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Macquarie increased their price target on shares of Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Finally, 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 research report on Friday, November 1st. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

Institutional Trading of Atlassian

Hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. raised its position in shares of Atlassian by 0.9% during the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock valued at $1,352,115,000 after buying an additional 78,454 shares during the period. JPMorgan Chase & Co. increased its stake in Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock worth $1,042,737,000 after acquiring an additional 1,806,042 shares during the last quarter. State Street Corp raised its position in Atlassian by 0.3% in the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock valued at $565,424,000 after purchasing an additional 8,957 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of Atlassian in the 4th quarter valued at $687,486,000. Finally, Invesco Ltd. grew its holdings in shares of Atlassian by 265.9% during the 4th quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock worth $595,171,000 after purchasing an additional 1,777,179 shares during the period. Hedge funds and other institutional investors 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.