Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar Sells 7,948 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $208.43, for a total value of $1,656,601.64. Following the completion of the sale, the director now directly owns 23,844 shares of the company’s stock, valued at approximately $4,969,804.92. This trade represents a 25.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, May 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $205.73, for a total value of $1,635,142.04.
• On Tuesday, May 27th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $210.81, for a total value of $1,675,517.88.
• On Friday, May 23rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $206.57, for a total value of $1,641,818.36.
• On Monday, May 19th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $214.92, for a total value of $1,708,184.16.
• On Friday, May 16th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $221.41, for a total value of $1,759,766.68.
• On Wednesday, May 14th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $225.44, for a total value of $1,791,797.12.
• On Tuesday, May 6th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $206.80, for a total value of $1,643,646.40.
• On Friday, May 2nd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $211.30, for a total value of $1,679,412.40.
• On Friday, April 25th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $229.11, for a total value of $1,820,966.28.
• On Monday, April 14th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $202.19, for a total value of $1,607,006.12.

Atlassian Trading Up 0.0%

Shares of TEAM opened at $210.92 on Thursday. The stock has a fifty day moving average of $209.85 and a two-hundred day moving average of $245.30. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $55.37 billion, a PE ratio of -157.40 and a beta of 1.06. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.04. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.89 EPS. As a group, analysts forecast that Atlassian Co. will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TEAM. BMO Capital Markets reduced their price target on Atlassian from $295.00 to $245.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Truist Financial decreased their target price on Atlassian from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Monday, March 31st. UBS Group dropped their target price on Atlassian from $230.00 to $215.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. Wall Street Zen upgraded Atlassian from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $300.00 price target (down previously from $365.00) on shares of Atlassian in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $285.29.

Hedge Funds Weigh In On Atlassian

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in Atlassian by 5.6% during the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company’s stock worth $393,588,000 after acquiring an additional 131,621 shares during the period. Blue Trust Inc. raised its stake in Atlassian by 20.9% during the fourth quarter. Blue Trust Inc. now owns 811 shares of the technology company’s stock worth $197,000 after acquiring an additional 140 shares during the period. Caprock Group LLC acquired a new stake in Atlassian during the fourth quarter worth about $227,000. Chicago Partners Investment Group LLC acquired a new stake in Atlassian during the fourth quarter worth about $262,000. Finally, Tokio Marine Asset Management Co. Ltd. raised its stake in Atlassian by 5.9% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,123 shares of the technology company’s stock worth $1,247,000 after acquiring an additional 287 shares during the period. Institutional investors own 94.45% of the company’s stock.

About Atlassian

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.