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

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction dated 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 completion of the transaction, the director owned 22,995 shares of the company’s stock, valued at approximately $3,737,377.35. This represents a 25.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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 value 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 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 stock was 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 shares were 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 stock was sold at an average price of $160.48, for a total transaction 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 stock was sold at an average price of $150.12, for a total value of $1,150,669.80.

Atlassian Price Performance

Shares of NASDAQ TEAM traded up $0.84 during midday trading on Monday, hitting $163.99. The stock had a trading volume of 1,236,023 shares, 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. The stock 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 PE ratio of -230.97, a P/E/G ratio of 25.27 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.

Atlassian (NASDAQ:TEAM) last issued 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 firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 20.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.77 earnings per share. On average, sell-side analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on TEAM shares. Piper Sandler reaffirmed an “overweight” rating and issued a $300.00 price target on shares of Atlassian in a report on Friday, October 31st. Sanford C. Bernstein raised their target price on Atlassian from $290.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 18th. Guggenheim assumed coverage on Atlassian in a report on Thursday, September 11th. They set a “buy” rating and a $225.00 price target on the stock. Wall Street Zen raised shares of Atlassian from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Finally, KeyCorp cut their price objective on shares of Atlassian from $250.00 to $210.00 and set an “overweight” rating for the company in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Atlassian currently has a consensus rating of “Moderate Buy” and an average target price of $239.23.

Institutional Trading of Atlassian

Several institutional investors and hedge funds have recently bought and sold shares of TEAM. DNB Asset Management AS boosted its stake in Atlassian by 266.6% during the third quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company’s stock worth $448,260,000 after buying an additional 2,041,210 shares during the period. Norges Bank acquired a new position in shares of Atlassian in the 2nd quarter worth approximately $377,794,000. Artisan Partners Limited Partnership boosted its position in shares of Atlassian by 66.3% during the 2nd quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company’s stock worth $787,610,000 after purchasing an additional 1,545,546 shares during the period. Vanguard Group Inc. increased its holdings in Atlassian by 6.0% in the 3rd quarter. Vanguard Group Inc. now owns 18,479,561 shares of the technology company’s stock valued at $2,951,186,000 after purchasing an additional 1,049,483 shares during the last quarter. Finally, AQR Capital Management LLC raised its position in Atlassian by 145.6% in the first quarter. AQR Capital Management LLC now owns 1,715,287 shares of the technology company’s stock valued at $354,858,000 after purchasing an additional 1,016,902 shares during the period. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

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.