Insider Selling: Atlassian Co. (NASDAQ:TEAM) Director Sells $2,099,861.60 in Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $264.20, for a total value of $2,099,861.60. Following the transaction, the director now owns 190,752 shares of the company’s stock, valued at $50,396,678.40. This represents a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, November 20th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were 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 stock was sold at an average price of $244.84, for a total transaction of $1,945,988.32.
• On Friday, November 8th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $237.04, for a total transaction 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.
• On Wednesday, October 16th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $189.96, for a total value of $1,509,802.08.
• On Monday, October 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $169.00, for a total value of $1,343,212.00.
• 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 value of $1,272,792.72.
• On Monday, September 9th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $163.82, for a total value 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.

Atlassian Stock Up 0.1 %

Shares of Atlassian stock opened at $262.46 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $269.40. The stock has a 50-day moving average price of $204.55 and a 200 day moving average price of $179.29. The company has a market cap of $68.35 billion, a P/E ratio of -172.67 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion during 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 firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period last year, the company posted ($0.07) earnings per share. As a group, analysts expect that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TEAM shares. Canaccord Genuity Group raised their target price on shares of Atlassian from $225.00 to $255.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Morgan Stanley boosted their target price on Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. BMO Capital Markets increased their price target on Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Jefferies Financial Group boosted their price objective on Atlassian from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Raymond James raised their target price on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Atlassian currently has an average rating of “Moderate Buy” and a consensus target price of $244.21.

Hedge Funds Weigh In On Atlassian

A number of hedge funds have recently modified their holdings of TEAM. Asset Dedication LLC boosted its position in Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after purchasing an additional 108 shares during the last quarter. Trust Co. of Vermont raised its stake in shares of Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of Atlassian during the 2nd quarter valued at about $36,000. True Wealth Design LLC grew its stake in shares of 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 buying an additional 231 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after buying an additional 96 shares during the last quarter. 93.03% of the stock is owned by institutional investors and hedge funds.

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.