Atlassian (NASDAQ:TEAM) Director Scott Farquhar Sells 7,665 Shares of Stock

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $162.53, for a total value of $1,245,792.45. Following the sale, the director directly owned 22,995 shares in the company, valued at $3,737,377.35. This trade represents a 25.00% decrease in their position. 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 Friday, December 19th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.40, for a total transaction of $1,244,796.00.
• On Tuesday, December 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.30, for a total transaction of $1,236,364.50.
• On Wednesday, December 17th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $163.16, for a total transaction of $1,250,621.40.
• On Monday, December 15th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $158.92, for a total transaction of $1,218,121.80.
• On Friday, December 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.11, for a total transaction of $1,242,573.15.
• On Wednesday, December 10th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $161.79, for a total transaction of $1,240,120.35.
• On Monday, December 8th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.70, for a total transaction of $1,231,765.50.
• On Friday, December 5th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.48, for a total value of $1,230,079.20.
• On Wednesday, December 3rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $155.08, for a total value of $1,188,688.20.
• On Friday, November 28th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $150.12, for a total value of $1,150,669.80.

Atlassian Price Performance

NASDAQ TEAM traded up $0.84 during trading on Monday, hitting $163.99. 1,236,023 shares of the stock traded hands, compared to its average volume of 2,474,800. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. Atlassian Corporation PLC has a 12-month low of $139.70 and a 12-month high of $326.00. The firm has a 50-day simple moving average of $158.22 and a 200-day simple moving average of $171.86. The company has a market capitalization of $43.15 billion, a P/E ratio of -230.97, a price-to-earnings-growth ratio of 25.27 and a beta of 0.89.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.21. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the firm earned $0.77 EPS. The company’s revenue for the quarter was up 20.6% on a year-over-year basis. As a group, analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Institutional Trading of Atlassian

Several institutional investors and hedge funds have recently made changes to their positions in the company. One Wealth Advisors LLC boosted its position in Atlassian by 56.7% in the 2nd quarter. One Wealth Advisors LLC now owns 4,436 shares of the technology company’s stock worth $901,000 after purchasing an additional 1,606 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Atlassian by 28.6% in the 2nd quarter. Allianz Asset Management GmbH now owns 102,194 shares of the technology company’s stock valued at $20,755,000 after purchasing an additional 22,701 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Atlassian by 3.7% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 258,299 shares of the technology company’s stock worth $52,458,000 after buying an additional 9,274 shares in the last quarter. Machina Capital S.A.S. boosted its holdings in Atlassian by 203.0% during the second quarter. Machina Capital S.A.S. now owns 9,376 shares of the technology company’s stock worth $1,904,000 after buying an additional 6,282 shares in the last quarter. Finally, Nicholas Company Inc. grew its position in Atlassian by 10.0% during the second quarter. Nicholas Company Inc. now owns 227,789 shares of the technology company’s stock valued at $46,262,000 after buying an additional 20,635 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on TEAM shares. Weiss Ratings restated a “sell (e+)” rating on shares of Atlassian in a research report on Wednesday, October 8th. UBS Group decreased their price objective on Atlassian from $215.00 to $185.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Sanford C. Bernstein raised their price objective on Atlassian from $290.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, November 18th. Cowen reissued a “hold” rating on shares of Atlassian in a research report on Monday, October 27th. Finally, Robert W. Baird set a $230.00 price target on Atlassian in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.23.

About Atlassian

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.