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

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $283.26, for a total value of $2,251,350.48. Following the sale, the director now owns 198,700 shares of the company’s stock, valued at approximately $56,283,762. The trade was a 3.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• 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 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 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 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 value of $2,053,206.84.
• On Tuesday, December 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $269.35, for a total value of $2,140,793.80.
• On Monday, December 2nd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $265.96, for a total value of $2,113,850.08.

Atlassian Stock Up 0.1 %

Shares of Atlassian stock traded up $0.20 during trading hours on Tuesday, reaching $284.26. 1,551,170 shares of the company’s stock were exchanged, compared to its average volume of 2,026,971. The company has a 50 day moving average of $273.10 and a two-hundred day moving average of $224.90. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a market cap of $74.48 billion, a P/E ratio of -212.13 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS 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%. On average, sell-side analysts forecast that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlassian

A number of institutional investors and hedge funds have recently modified their holdings of TEAM. Murphy & Mullick Capital Management Corp bought a new position in Atlassian in the 4th quarter valued at about $27,000. Colonial Trust Co SC raised 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 acquiring an additional 69 shares during the period. True Wealth Design LLC raised its holdings in Atlassian by 23,100.0% in the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after acquiring an additional 231 shares during the period. Summit Securities Group LLC bought a new position in shares of Atlassian during the fourth quarter worth approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Atlassian during the fourth quarter worth approximately $39,000. 94.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Citigroup boosted their target price on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Macquarie upped their target price 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. StockNews.com upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Friday. Oppenheimer upped their price objective on shares of Atlassian from $300.00 to $380.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $255.00 to $292.00 in a research report on Friday, January 10th. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

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.