Atlassian Co. (NASDAQ:TEAM) Director Sells $1,825,178.72 in Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $229.64, for a total transaction of $1,825,178.72. Following the sale, the director now owns 23,844 shares of the company’s stock, valued at approximately $5,475,536.16. This represents a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, March 24th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $234.38, for a total transaction of $1,862,852.24.
• 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 stock was sold at an average price of $278.61, for a total value 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 value 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 value 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 stock was 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 stock was sold at an average price of $253.01, for a total value of $2,010,923.48.

Atlassian Stock Performance

NASDAQ TEAM opened at $217.99 on Friday. The firm has a market cap of $57.11 billion, a P/E ratio of -162.68 and a beta of 0.91. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The business’s 50-day moving average price is $269.28 and its 200 day moving average price is $238.60. 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 (NASDAQ:TEAM) last announced its 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%. On average, equities research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Hedge Funds Weigh In On Atlassian

A number of large investors have recently bought and sold shares of TEAM. Murphy & Mullick Capital Management Corp acquired a new position in shares of Atlassian during the fourth quarter worth about $27,000. Colonial Trust Co SC boosted its holdings in Atlassian by 100.0% in the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after purchasing an additional 69 shares in 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 worth $37,000 after purchasing an additional 231 shares during the period. Summit Securities Group LLC purchased a new position in shares of Atlassian during the 4th quarter worth approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Atlassian in the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on TEAM shares. Stephens started coverage on Atlassian in a research note on Wednesday, March 19th. They set an “equal weight” rating and a $255.00 target price for the company. Truist Financial reissued a “buy” rating and set a $350.00 price objective (up from $300.00) on shares of Atlassian in a research report on Friday, January 31st. William Blair reiterated an “outperform” rating on shares of Atlassian in a research note on Friday, January 31st. Raymond James reiterated an “outperform” rating and set a $330.00 price target (up previously from $250.00) on shares of Atlassian in a report on Friday, January 31st. Finally, Piper Sandler raised their price objective on shares of Atlassian from $310.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $316.77.

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.