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

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $218.05, for a total transaction of $1,733,061.40. Following the transaction, the director now owns 119,220 shares in the company, valued at $25,995,921. The trade was a 6.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Friday, February 28th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.61, for a total transaction of $2,214,392.28.
• On Wednesday, February 26th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $289.77, for a total transaction of $2,303,091.96.
• On Monday, February 24th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was 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 shares were 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 shares were sold at an average price of $270.63, for a total transaction 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 transaction of $2,032,383.08.
• On Friday, January 17th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $253.01, for a total transaction 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.

Atlassian Stock Performance

NASDAQ:TEAM opened at $224.10 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The stock has a market cap of $58.71 billion, a PE ratio of -167.24 and a beta of 0.91. The firm’s fifty day simple moving average is $275.10 and its 200-day simple moving average is $233.57.

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

Analyst Ratings Changes

TEAM has been the topic of several recent analyst reports. The Goldman Sachs Group increased their price objective on shares of Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Macquarie lifted their price target on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. William Blair reiterated an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. Wells Fargo & Company lifted their price target on shares of Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Mizuho lifted their price objective on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $319.71.

Institutional Investors Weigh In On Atlassian

A number of large investors have recently added to or reduced their stakes in the business. Siemens Fonds Invest GmbH grew its stake in Atlassian by 16.8% in the 4th quarter. Siemens Fonds Invest GmbH now owns 2,011 shares of the technology company’s stock valued at $489,000 after acquiring an additional 289 shares during the last quarter. Menard Financial Group LLC acquired a new stake in Atlassian in the 4th quarter valued at about $810,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Atlassian in the 4th quarter valued at about $25,279,000. Jefferies Financial Group Inc. acquired a new stake in Atlassian in the 4th quarter valued at about $1,702,000. Finally, Pinnacle Wealth Planning Services Inc. acquired a new stake in Atlassian in the 4th quarter valued at about $238,000. 94.45% of the stock is owned by institutional investors and hedge funds.

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.