Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar Sells 8,241 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $183.51, for a total transaction of $1,512,305.91. Following the transaction, the chief executive officer now directly owns 308,763 shares in the company, valued at approximately $56,661,098.13. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Monday, April 29th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $177.14, for a total transaction of $1,459,810.74.
• On Wednesday, April 24th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $199.71, for a total transaction of $1,645,810.11.
• On Monday, April 22nd, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $193.35, for a total value of $1,593,397.35.
• On Friday, April 12th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $207.36, for a total value of $1,708,853.76.
• On Thursday, March 28th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $194.67, for a total value of $1,604,275.47.
• On Friday, March 22nd, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $192.73, for a total transaction of $1,588,287.93.
• On Monday, March 18th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $197.25, for a total value of $1,625,537.25.
• On Monday, March 11th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $214.32, for a total transaction of $1,766,211.12.
• On Friday, March 1st, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $207.85, for a total transaction of $1,712,891.85.
• On Monday, February 26th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $204.79, for a total transaction of $1,687,674.39.

Atlassian Stock Performance

Shares of TEAM traded down $1.75 during mid-day trading on Monday, hitting $181.77. The stock had a trading volume of 1,468,305 shares, compared to its average volume of 1,768,715. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. The company has a market cap of $47.31 billion, a PE ratio of -289.71 and a beta of 0.67. The company’s fifty day simple moving average is $197.23 and its two-hundred day simple moving average is $206.07.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the firm earned ($0.40) earnings per share. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. On average, equities analysts expect that Atlassian Co. will post -0.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

TEAM has been the subject of several analyst reports. William Blair reaffirmed an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. The Goldman Sachs Group lifted their target price on Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Mizuho dropped their price objective on shares of Atlassian from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Wells Fargo & Company boosted their price target on Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Finally, StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a research note on Monday, April 29th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and an average target price of $223.22.

Hedge Funds Weigh In On Atlassian

Several institutional investors have recently made changes to their positions in TEAM. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Atlassian by 12.4% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 73,263 shares of the technology company’s stock valued at $14,763,000 after purchasing an additional 8,073 shares during the period. Arkadios Wealth Advisors bought a new position in shares of Atlassian in the fourth quarter valued at approximately $202,000. American Century Companies Inc. raised its holdings in Atlassian by 58.7% during the third quarter. American Century Companies Inc. now owns 430,112 shares of the technology company’s stock worth $86,672,000 after purchasing an additional 159,102 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Atlassian during the fourth quarter worth approximately $13,805,000. Finally, Royal Bank of Canada lifted its position in Atlassian by 17.3% in the third quarter. Royal Bank of Canada now owns 381,430 shares of the technology company’s stock worth $76,862,000 after purchasing an additional 56,149 shares during the period. 93.03% of the stock is owned by institutional investors.

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.