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 firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $163.82, for a total value of $1,302,041.36. Following the sale, the director now owns 119,220 shares of the company’s stock, valued at approximately $19,530,620.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Tuesday, September 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.81, for a total value of $1,301,961.88.
• On Tuesday, August 27th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $164.81, for a total value of $1,309,909.88.
• On Wednesday, August 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $140.54, for a total value of $1,117,011.92.
• On Monday, August 5th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $143.54, for a total value of $1,140,855.92.
• On Monday, July 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $178.96, for a total value of $1,422,374.08.
• On Friday, July 19th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $175.91, for a total value of $1,398,132.68.
• On Friday, July 12th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $181.21, for a total value of $1,440,257.08.
• On Friday, July 5th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $186.48, for a total value of $1,482,143.04.
• On Wednesday, July 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $182.62, for a total value of $1,451,463.76.
• On Monday, July 1st, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $177.25, for a total value of $1,408,783.00.

Atlassian Stock Down 0.3 %

Shares of Atlassian stock traded down $0.44 during trading hours on Tuesday, reaching $162.25. 1,465,090 shares of the company’s stock were exchanged, compared to its average volume of 1,779,745. The company has a 50 day moving average of $165.24 and a two-hundred day moving average of $177.88. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The stock has a market cap of $42.19 billion, a P/E ratio of -258.24 and a beta of 0.73.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the business posted ($0.21) EPS. Atlassian’s revenue was up 20.5% on a year-over-year basis. On average, sell-side analysts forecast that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlassian

Hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new stake in Atlassian during the second quarter worth approximately $1,022,000. New Century Financial Group LLC acquired a new position in shares of Atlassian during the second quarter worth $397,000. Truist Financial Corp lifted its holdings in Atlassian by 2.5% in the second quarter. Truist Financial Corp now owns 84,358 shares of the technology company’s stock valued at $14,921,000 after buying an additional 2,050 shares during the period. Point72 Asset Management L.P. acquired a new position in Atlassian in the second quarter valued at $14,364,000. Finally, Quarry LP lifted its holdings in Atlassian by 143.8% in the second quarter. Quarry LP now owns 373 shares of the technology company’s stock valued at $66,000 after buying an additional 220 shares during the period. 93.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TEAM has been the topic of a number of recent research reports. The Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $200.00 to $230.00 in a report on Friday, August 2nd. Mizuho lowered their price target on Atlassian from $225.00 to $220.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. Truist Financial lowered their price target on Atlassian from $200.00 to $160.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Barclays lowered their price target on Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Finally, Morgan Stanley lowered their price target on Atlassian from $245.00 to $225.00 and set an “overweight” rating on the stock in a report on Wednesday, July 17th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.69.

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.