Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,244,577.32 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 7,948 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $156.59, for a total transaction of $1,244,577.32. Following the completion of the sale, the chief executive officer now directly owns 47,688 shares of the company’s stock, valued at $7,467,463.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Tuesday, June 18th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $153.84, for a total transaction of $1,222,720.32.
• On Friday, June 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $162.61, for a total transaction of $1,292,424.28.
• On Monday, June 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $162.20, for a total transaction of $1,289,165.60.
• On Wednesday, June 5th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $157.52, for a total transaction of $1,298,122.32.
• On Thursday, May 30th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $161.00, for a total transaction of $1,326,801.00.
• On Friday, May 24th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $170.05, for a total transaction of $1,401,382.05.
• On Friday, May 17th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $181.34, for a total transaction of $1,494,422.94.
• On Friday, May 3rd, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $183.51, for a total transaction of $1,512,305.91.
• On Monday, April 29th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $177.14, for a total transaction of $1,459,810.74.
• On Wednesday, April 24th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $199.71, for a total transaction of $1,645,810.11.

Atlassian Stock Up 2.5 %

NASDAQ:TEAM opened at $171.66 on Thursday. The firm has a market capitalization of $44.68 billion, a P/E ratio of -272.48 and a beta of 0.73. Atlassian Co. has a 1-year low of $152.34 and a 1-year high of $258.69. The company’s fifty day moving average price is $172.95 and its 200-day moving average price is $201.89. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the firm posted ($0.40) earnings per share. The firm’s quarterly revenue was up 29.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Atlassian Co. will post -0.21 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. TD Cowen reduced their price objective on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Citigroup reduced their price objective on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a research note on Friday, April 12th. KeyCorp assumed coverage on shares of Atlassian in a research note on Tuesday, March 19th. They set a “sector weight” rating for the company. Wells Fargo & Company reduced their price objective on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. Finally, Canaccord Genuity Group reduced their price objective on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $221.28.

Institutional Trading of Atlassian

A number of hedge funds have recently added to or reduced their stakes in TEAM. Hsbc Holdings PLC boosted its holdings in Atlassian by 1.3% during the third quarter. Hsbc Holdings PLC now owns 68,434 shares of the technology company’s stock worth $13,806,000 after buying an additional 908 shares in the last quarter. LPL Financial LLC boosted its holdings in Atlassian by 15.6% during the third quarter. LPL Financial LLC now owns 73,569 shares of the technology company’s stock worth $14,785,000 after buying an additional 9,955 shares in the last quarter. Mariner LLC boosted its holdings in Atlassian by 34.7% during the third quarter. Mariner LLC now owns 9,233 shares of the technology company’s stock worth $1,861,000 after buying an additional 2,378 shares in the last quarter. Algert Global LLC purchased a new stake in Atlassian during the third quarter worth $353,000. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Atlassian by 14.4% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,670 shares of the technology company’s stock worth $337,000 after buying an additional 210 shares in the last quarter. 93.03% 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.