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

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $199.71, for a total transaction of $1,645,810.11. Following the completion of the transaction, the chief executive officer now owns 366,450 shares of the company’s stock, valued at approximately $73,183,729.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, April 22nd, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $193.35, for a total transaction 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 transaction of $1,708,853.76.
• On Thursday, March 28th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $194.67, for a total transaction of $1,604,275.47.
• On Friday, March 22nd, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were 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 shares were sold at an average price of $197.25, for a total transaction of $1,625,537.25.
• On Monday, March 11th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were 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 shares were sold at an average price of $204.79, for a total transaction of $1,687,674.39.
• On Tuesday, February 20th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $204.63, for a total transaction of $1,686,355.83.
• On Monday, February 12th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $218.32, for a total transaction of $1,799,175.12.

Atlassian Price Performance

Shares of Atlassian stock traded down $0.60 on Thursday, reaching $198.41. 1,921,415 shares of the stock were exchanged, compared to its average volume of 1,690,192. The firm has a market cap of $51.47 billion, a PE ratio of -133.42 and a beta of 0.63. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07. The firm’s 50 day moving average is $200.84 and its 200-day moving average is $206.75. Atlassian Co. has a one year low of $128.02 and a one year high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. As a group, analysts anticipate that Atlassian Co. will post -0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Atlassian

Several large investors have recently modified their holdings of the business. Equitable Trust Co. raised its stake in shares of Atlassian by 0.9% during the first quarter. Equitable Trust Co. now owns 19,373 shares of the technology company’s stock valued at $3,780,000 after acquiring an additional 167 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Atlassian by 28.7% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 45,800 shares of the technology company’s stock valued at $8,936,000 after buying an additional 10,200 shares during the last quarter. CENTRAL TRUST Co grew its holdings in shares of Atlassian by 4.2% during the first quarter. CENTRAL TRUST Co now owns 7,517 shares of the technology company’s stock valued at $1,467,000 after buying an additional 304 shares during the last quarter. Dakota Wealth Management grew its holdings in shares of Atlassian by 15.1% during the first quarter. Dakota Wealth Management now owns 7,097 shares of the technology company’s stock valued at $1,385,000 after buying an additional 930 shares during the last quarter. Finally, Simplicity Wealth LLC bought a new position in shares of Atlassian during the first quarter valued at about $482,000. Institutional investors own 93.03% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on TEAM. Barclays raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $235.00 to $275.00 in a research report on Thursday, April 11th. Truist Financial boosted their price objective on shares of Atlassian from $180.00 to $220.00 and gave the company a “hold” rating in a research report on Tuesday, January 16th. UBS Group cut their price objective on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, February 2nd. Wells Fargo & Company boosted their price objective on shares of Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Finally, William Blair reissued an “outperform” rating on shares of Atlassian in a research report on Friday, February 2nd. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $224.25.

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.