Atlassian Co. (NASDAQ:TEAM) Director Sells $2,032,383.08 in Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $255.71, for a total value of $2,032,383.08. Following the sale, the director now directly owns 381,504 shares of the company’s stock, valued at approximately $97,554,387.84. This trade represents a 2.04 % 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 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.
• 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 transaction 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 shares were sold at an average price of $244.84, for a total value of $1,945,988.32.
• On Friday, November 8th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $237.04, for a total value of $1,883,993.92.
• On Monday, November 4th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $219.07, for a total transaction of $1,741,168.36.

Atlassian Trading Up 1.8 %

TEAM opened at $260.85 on Thursday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $287.97. The business’s 50 day moving average is $256.71 and its two-hundred day moving average is $203.21.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on TEAM shares. Robert W. Baird lifted their price objective on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 1st. UBS Group boosted their price target on shares of Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Morgan Stanley increased their price objective on Atlassian from $259.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, January 16th. BMO Capital Markets raised Atlassian from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. Finally, Cantor Fitzgerald assumed coverage on Atlassian in a research report on Friday, January 17th. They issued a “neutral” rating and a $264.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $272.00.

Institutional Investors Weigh In On Atlassian

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. purchased a new stake in Atlassian during the 2nd quarter valued at approximately $444,000. Dimensional Fund Advisors LP increased its holdings in shares of Atlassian by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 150,393 shares of the technology company’s stock valued at $26,597,000 after purchasing an additional 5,878 shares during the period. Amalgamated Bank raised its stake in shares of Atlassian by 3.5% during the second quarter. Amalgamated Bank now owns 10,608 shares of the technology company’s stock worth $1,876,000 after purchasing an additional 363 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Atlassian by 17.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,403 shares of the technology company’s stock valued at $248,000 after buying an additional 205 shares during the last quarter. Finally, AE Wealth Management LLC grew its position in Atlassian by 1.4% in the 2nd quarter. AE Wealth Management LLC now owns 12,738 shares of the technology company’s stock valued at $2,253,000 after buying an additional 174 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

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.