Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,512,305.91 in Stock

Posted by Teresa Graham on May 9th, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) CEO Scott Farquhar sold 8,241 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 308,763 shares in the company, valued at $56,661,098.13. The sale was disclosed in a 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 value of $1,459,810.74.
On Wednesday, April 24th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $199.71, for a total value 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 transaction of $1,593,397.35.
On Friday, April 12th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was 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 shares were 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 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 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 value 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 value 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 value of $1,687,674.39.

Atlassian Stock Performance

Shares of TEAM opened at $178.52 on Thursday. The company has a market capitalization of $46.47 billion, a price-to-earnings ratio of -283.37 and a beta of 0.67. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a 1 year low of $128.02 and a 1 year high of $258.69. The company’s 50 day simple moving average is $195.77 and its 200 day simple moving average is $205.78.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. StockNews.com upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. Mizuho reduced their price target on Atlassian from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday, April 26th. Truist Financial cut their price objective on Atlassian from $220.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Canaccord Genuity Group decreased their target price on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Finally, Wells Fargo & Company increased their price target on shares of Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $223.22.

Check Out Our Latest Report on TEAM

Institutional Investors Weigh In On Atlassian

Hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. raised its position in shares of Atlassian by 20.7% in the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after buying an additional 1,511,318 shares during the period. Morgan Stanley raised its holdings in shares of Atlassian by 156.8% in the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock worth $361,449,000 after purchasing an additional 1,095,297 shares during the period. Norges Bank acquired a new position in shares of Atlassian in the 4th quarter valued at about $247,740,000. Vanguard Group Inc. lifted its stake in shares of Atlassian by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after purchasing an additional 504,181 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Atlassian by 3.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company’s stock worth $2,435,095,000 after purchasing an additional 326,673 shares during the period. 93.03% of the stock is owned by institutional investors and hedge funds.

About Atlassian

(Get Free Report)

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.