Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,383,839.10 in Stock

Atlassian Co. (NASDAQ:TEAM – Get Rating) CEO Scott Farquhar sold 8,614 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $160.65, for a total value of $1,383,839.10. Following the sale, the chief executive officer now owns 200,394 shares of the company’s stock, valued at approximately $32,193,296.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, May 10th, Scott Farquhar sold 8,614 shares of Atlassian stock. The stock was sold at an average price of $136.86, for a total transaction of $1,178,912.04.
• On Friday, April 28th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $147.87, for a total transaction of $1,273,752.18.
• On Wednesday, April 26th, Scott Farquhar sold 8,614 shares of Atlassian stock. The stock was sold at an average price of $150.72, for a total value of $1,298,302.08.
• On Wednesday, April 19th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $162.31, for a total value of $1,398,138.34.
• On Monday, April 17th, Scott Farquhar sold 8,614 shares of Atlassian stock. The stock was sold at an average price of $165.35, for a total transaction of $1,424,324.90.
• On Friday, April 14th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $163.71, for a total transaction of $1,410,197.94.
• On Monday, April 10th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $156.31, for a total transaction of $1,346,454.34.
• On Wednesday, April 5th, Scott Farquhar sold 8,614 shares of Atlassian stock. The stock was sold at an average price of $158.64, for a total transaction of $1,366,524.96.
• On Monday, April 3rd, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $165.05, for a total value of $1,421,740.70.
• On Wednesday, March 29th, Scott Farquhar sold 8,614 shares of Atlassian stock. The stock was sold at an average price of $157.59, for a total value of $1,357,480.26.

Atlassian Stock Performance

NASDAQ TEAM traded up $7.27 during trading hours on Friday, reaching $166.15. 2,095,375 shares of the company were exchanged, compared to its average volume of 2,257,368. Atlassian Co. has a 1 year low of $113.86 and a 1 year high of $300.29. The business’s 50 day simple moving average is $153.05 and its 200-day simple moving average is $149.42. The stock has a market capitalization of $42.70 billion, a P/E ratio of -81.32 and a beta of 0.82. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.67.

Atlassian (NASDAQ:TEAM – Get Rating) last announced its earnings results on Thursday, May 4th. The technology company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.15). The company had revenue of $915.45 million during the quarter, compared to analysts’ expectations of $898.71 million. Atlassian had a negative return on equity of 79.71% and a negative net margin of 15.89%. On average, equities research analysts expect that Atlassian Co. will post -0.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TEAM shares. Canaccord Genuity Group lifted their price objective on Atlassian from $150.00 to $175.00 and gave the company a “buy” rating in a report on Friday, February 3rd. Morgan Stanley reduced their price target on shares of Atlassian from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, February 3rd. Piper Sandler dropped their price target on Atlassian from $160.00 to $140.00 in a report on Friday, May 5th. Oppenheimer reissued an “outperform” rating and set a $200.00 price objective on shares of Atlassian in a report on Monday, April 17th. Finally, The Goldman Sachs Group cut Atlassian from a “buy” rating to a “neutral” rating and lowered their target price for the company from $240.00 to $165.00 in a research note on Friday, May 5th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $197.74.

Institutional Trading of Atlassian

Several institutional investors and hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC lifted its position in Atlassian by 7.6% during the 1st quarter. ProShare Advisors LLC now owns 125,405 shares of the technology company’s stock valued at $21,466,000 after acquiring an additional 8,909 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Atlassian by 17.2% during the first quarter. Ameriprise Financial Inc. now owns 353,199 shares of the technology company’s stock valued at $60,457,000 after buying an additional 51,714 shares during the last quarter. SkyView Investment Advisors LLC purchased a new position in Atlassian in the 1st quarter worth about $321,000. JPMorgan Chase & Co. increased its position in Atlassian by 36.9% during the first quarter. JPMorgan Chase & Co. now owns 1,371,092 shares of the technology company’s stock valued at $234,690,000 after acquiring an additional 369,851 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in shares of Atlassian by 19.2% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,090 shares of the technology company’s stock worth $358,000 after buying an additional 337 shares during the last quarter. 45.50% of the stock is currently owned by hedge funds and other institutional investors.

About Atlassian

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Atlassian Corp. is a holding company, which engages in providing team collaboration and productivity software. Its software helps teams organize, discuss, and complete shared work. Its products include Jira Software, Confluence, Jira Service Management, and Trello. The company was founded by Michael Cannon-Brookes and Scott Farquhar in October 2002 and is headquartered in San Francisco, CA.