Atlassian Co. (NASDAQ:TEAM) Director Sells $1,862,852.24 in Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $234.38, for a total value of $1,862,852.24. Following the transaction, the director now directly owns 39,740 shares of the company’s stock, valued at approximately $9,314,261.20. The trade was a 16.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, March 26th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $229.64, for a total value of $1,825,178.72.
• On Monday, March 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $218.05, for a total transaction of $1,733,061.40.
• 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 stock was 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 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 value 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 value 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 value of $2,150,967.24.
• On Tuesday, January 21st, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was 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 transaction of $2,010,923.48.

Atlassian Trading Down 3.1 %

Shares of NASDAQ TEAM opened at $222.64 on Friday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The business has a fifty day moving average price of $269.96 and a 200 day moving average price of $237.69. The stock has a market capitalization of $58.33 billion, a P/E ratio of -166.15 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS 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%. Equities research analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlassian

Several institutional investors have recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp acquired a new position in shares of Atlassian during the fourth quarter worth $27,000. Colonial Trust Co SC grew its stake in Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock worth $34,000 after buying an additional 69 shares during the last quarter. True Wealth Design LLC increased its position in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Atlassian in the fourth quarter valued at about $38,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Atlassian in the fourth quarter worth about $39,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TEAM shares. The Goldman Sachs Group lifted their price target on shares of Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Stephens began coverage on Atlassian in a research report on Wednesday, March 19th. They set an “equal weight” rating and a $255.00 target price for the company. Raymond James reiterated an “outperform” rating and issued a $330.00 price target (up from $250.00) on shares of Atlassian in a report on Friday, January 31st. Barclays boosted 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. Finally, KeyCorp increased their target price on Atlassian from $315.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Atlassian presently has a consensus rating of “Moderate Buy” and an average target price of $316.77.

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.