Insider Selling: Atlassian Co. (NASDAQ:TEAM) Director Sells $1,343,212.00 in Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $169.00, for a total transaction of $1,343,212.00. Following the sale, the director now directly owns 468,932 shares of the company’s stock, valued at $79,249,508. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, October 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $160.14, for a total transaction of $1,272,792.72.
• On Monday, September 9th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.82, for a total transaction of $1,302,041.36.
• 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 transaction 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 transaction of $1,309,909.88.
• On Wednesday, August 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $140.54, for a total transaction of $1,117,011.92.
• On Monday, August 5th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $143.54, for a total transaction of $1,140,855.92.
• On Monday, July 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $178.96, for a total transaction 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 transaction 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 transaction of $1,440,257.08.

Atlassian Stock Up 3.9 %

Shares of NASDAQ:TEAM opened at $184.00 on Friday. The stock has a market cap of $47.85 billion, a P/E ratio of -292.06 and a beta of 0.73. The firm has a fifty day moving average price of $158.96 and a 200 day moving average price of $172.04. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the business earned ($0.21) EPS. Atlassian’s quarterly revenue was up 20.5% compared to the same quarter last year. Sell-side analysts predict that Atlassian Co. will post -0.58 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. BMO Capital Markets cut their target price on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a research note on Friday, August 2nd. Canaccord Genuity Group upped their target price on shares of Atlassian from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday. Raymond James raised shares of Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research report on Tuesday, October 1st. StockNews.com downgraded shares of Atlassian from a “buy” rating to a “hold” rating in a research report on Friday, July 12th. Finally, Scotiabank dropped their price objective on shares of Atlassian from $210.00 to $175.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $216.35.

Institutional Trading of Atlassian

Several hedge funds have recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of Atlassian by 227.2% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,214 shares of the technology company’s stock worth $193,000 after acquiring an additional 843 shares during the period. Perpetual Ltd acquired a new stake in shares of Atlassian in the 3rd quarter worth $882,000. CWM LLC lifted its stake in shares of Atlassian by 270.6% in the 3rd quarter. CWM LLC now owns 7,875 shares of the technology company’s stock worth $1,251,000 after acquiring an additional 5,750 shares during the period. Green Alpha Advisors LLC lifted its stake in shares of Atlassian by 8.5% in the 3rd quarter. Green Alpha Advisors LLC now owns 3,521 shares of the technology company’s stock worth $559,000 after acquiring an additional 275 shares during the period. Finally, Azzad Asset Management Inc. ADV lifted its stake in shares of Atlassian by 100.5% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 3,451 shares of the technology company’s stock worth $548,000 after acquiring an additional 1,730 shares during the period. Institutional investors and hedge funds own 93.03% of the company’s stock.

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.