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

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $162.40, for a total transaction of $1,244,796.00. Following the sale, the director directly owned 53,655 shares of the company’s stock, valued at approximately $8,713,572. This trade represents a 12.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 value of $1,236,364.50.
• On Wednesday, December 17th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.16, for a total value 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 value 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 value 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 value 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 transaction 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 transaction of $1,150,669.80.
• On Wednesday, November 26th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $148.29, for a total value of $1,136,642.85.

Atlassian Stock Down 1.3%

Shares of Atlassian stock traded down $2.06 during trading hours on Tuesday, reaching $162.39. 1,858,326 shares of the company were exchanged, compared to its average volume of 2,494,999. The stock’s fifty day moving average is $157.46 and its 200 day moving average is $173.26. The firm has a market cap of $42.73 billion, a PE ratio of -228.72, a PEG ratio of 24.94 and a beta of 0.89. Atlassian Corporation PLC has a 1 year low of $139.70 and a 1 year high of $326.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.83 by $0.21. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.The firm’s revenue was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 earnings per share. As a group, equities research analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Hedge Funds Weigh In On Atlassian

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capco Asset Management LLC acquired a new stake in shares of Atlassian in the second quarter valued at approximately $25,000. Physician Wealth Advisors Inc. increased its stake in shares of Atlassian by 60.4% in the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after buying an additional 61 shares during the period. Atlantic Union Bankshares Corp raised its stake in Atlassian by 19,900.0% during the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after buying an additional 199 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after buying an additional 161 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Atlassian in the 3rd quarter valued at about $57,000. 94.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TEAM. BMO Capital Markets increased their target price on Atlassian from $190.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Cowen reaffirmed a “hold” rating on shares of Atlassian in a research note on Monday, October 27th. KeyCorp cut their target price on shares of Atlassian from $250.00 to $210.00 and set an “overweight” rating for the company in a research note on Thursday, October 23rd. Guggenheim assumed coverage on Atlassian in a research report on Thursday, September 11th. They set a “buy” rating and a $225.00 price target on the stock. Finally, UBS Group dropped their target price on Atlassian from $215.00 to $185.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average target price of $239.23.

Atlassian Company Profile

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.