Atlassian Co. (NASDAQ:TEAM) Director Sells $2,303,091.96 in Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $289.77, for a total transaction of $2,303,091.96. Following the completion of the transaction, the director now directly owns 182,804 shares of the company’s stock, valued at $52,971,115.08. This represents a 4.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, February 24th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $283.26, for a total value of $2,251,350.48.
• On Friday, February 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $315.69, for a total transaction of $2,509,104.12.
• On Friday, January 31st, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $308.86, for a total transaction of $2,454,819.28.
• On Wednesday, January 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $270.63, for a total transaction of $2,150,967.24.
• On Tuesday, January 21st, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.71, for a total value of $2,032,383.08.
• On Friday, January 17th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $253.01, for a total value of $2,010,923.48.
• On Wednesday, December 18th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $258.33, for a total value 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 shares were sold at an average price of $265.96, for a total transaction of $2,113,850.08.

Atlassian Price Performance

Shares of NASDAQ:TEAM opened at $284.26 on Friday. The company has a market cap of $74.48 billion, a P/E ratio of -212.13 and a beta of 0.87. The business has a fifty day simple moving average of $275.25 and a 200-day simple moving average of $227.71. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Equities research analysts forecast that Atlassian Co. will post -0.34 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Jefferies Financial Group upped their price objective on shares of Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, January 24th. BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $255.00 to $292.00 in a research report on Friday, January 10th. Canaccord Genuity Group upped their price objective on shares of Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Barclays raised their price target on Atlassian from $275.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Cantor Fitzgerald raised their price objective on shares of Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $319.71.

Hedge Funds Weigh In On Atlassian

A number of hedge funds have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA purchased a new position in shares of Atlassian in the 4th quarter worth $687,486,000. Voya Investment Management LLC increased its position in shares of Atlassian by 17,941.0% in the fourth quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company’s stock worth $528,693,000 after acquiring an additional 2,160,810 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Atlassian by 72.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock valued at $1,042,737,000 after purchasing an additional 1,806,042 shares in the last quarter. Invesco Ltd. raised its position in Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock valued at $595,171,000 after purchasing an additional 1,777,179 shares during the period. Finally, Durable Capital Partners LP lifted its stake in shares of Atlassian by 499.7% during the fourth quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company’s stock worth $383,456,000 after purchasing an additional 1,312,820 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

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.