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

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $253.01, for a total transaction of $2,010,923.48. Following the completion of the transaction, the director now directly owns 389,452 shares of the company’s stock, valued at approximately $98,535,250.52. This represents a 2.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Wednesday, December 18th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $258.33, for a total transaction of $2,053,206.84.
• On Tuesday, December 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $269.35, for a total transaction of $2,140,793.80.
• On Monday, December 2nd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $265.96, for a total transaction of $2,113,850.08.
• On Monday, November 25th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $264.20, for a total transaction of $2,099,861.60.
• On Wednesday, November 20th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $244.81, for a total transaction 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 stock was 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.

Atlassian Trading Down 0.7 %

Shares of TEAM stock opened at $252.36 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market capitalization of $65.72 billion, a P/E ratio of -166.03 and a beta of 0.83. The company has a 50 day moving average price of $256.36 and a 200 day moving average price of $202.09. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $287.97.

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. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the business posted ($0.07) EPS. The firm’s revenue was up 21.5% on a year-over-year basis. Equities research analysts predict that Atlassian Co. will post -0.55 EPS for the current fiscal year.

Analyst Ratings Changes

TEAM has been the topic of a number of research reports. Truist Financial upgraded shares of Atlassian from a “hold” rating to a “buy” rating and increased their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, January 7th. Canaccord Genuity Group raised their price target on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, December 20th. BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and raised their price target for the company from $255.00 to $292.00 in a research report on Friday, January 10th. Oppenheimer raised their price target on shares of Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Finally, Citigroup raised their price target on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a research report on Friday. Nine research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $272.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TEAM. Dragoneer Investment Group LLC acquired a new position in Atlassian during the 2nd quarter worth approximately $469,803,000. Point72 Asset Management L.P. lifted its position in shares of Atlassian by 760.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after buying an additional 617,566 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of Atlassian by 122.0% during the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock worth $159,382,000 after buying an additional 551,500 shares during the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of Atlassian during the 3rd quarter worth approximately $57,149,000. Finally, Parnassus Investments LLC lifted its position in shares of Atlassian by 322.9% during the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock worth $51,016,000 after buying an additional 245,286 shares during the last quarter. Institutional investors and hedge funds own 94.45% 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.