Atlassian (NASDAQ:TEAM) Director Sells $1,240,120.35 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the company’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $161.79, for a total value of $1,240,120.35. Following the sale, the director owned 107,310 shares in the company, valued at $17,361,684.90. The trade was a 6.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, December 8th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $160.70, for a total value 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 value of $1,230,079.20.
• On Wednesday, December 3rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $155.08, for a total transaction of $1,188,688.20.
• On Friday, November 28th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $150.12, for a total transaction of $1,150,669.80.
• On Wednesday, November 26th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $148.29, for a total value of $1,136,642.85.
• On Monday, November 24th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $146.62, for a total value of $1,123,842.30.
• On Friday, November 21st, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $144.02, for a total value of $1,103,913.30.
• On Wednesday, November 19th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $147.63, for a total transaction of $1,131,583.95.
• On Monday, November 17th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $147.41, for a total transaction of $1,129,897.65.
• On Thursday, November 13th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $153.77, for a total transaction of $1,178,647.05.

Atlassian Stock Performance

Shares of TEAM stock traded up $1.53 during midday trading on Thursday, hitting $163.26. 1,510,413 shares of the company were exchanged, compared to its average volume of 2,498,918. Atlassian Corporation PLC has a 52 week low of $139.70 and a 52 week high of $326.00. The firm has a market capitalization of $42.96 billion, a P/E ratio of -229.94, a PEG ratio of 30.44 and a beta of 0.89. The firm’s 50 day moving average price is $155.39 and its two-hundred day moving average price is $176.17. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.21. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the business posted $0.77 earnings per share. The business’s revenue for the quarter was up 20.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Institutional Trading of Atlassian

Several large investors have recently made changes to their positions in TEAM. Capco Asset Management LLC bought a new stake in Atlassian during the second quarter worth $25,000. Physician Wealth Advisors Inc. raised its holdings in shares of Atlassian by 60.4% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after buying an additional 61 shares in the last quarter. Atlantic Union Bankshares Corp lifted its position in shares of Atlassian by 19,900.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after buying an additional 199 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Atlassian by 447.2% in the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock valued at $42,000 after buying an additional 161 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Atlassian in the third quarter valued at about $57,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Atlassian in a research note on Wednesday, October 8th. TD Cowen dropped their target price on Atlassian from $220.00 to $205.00 and set a “hold” rating for the company in a report on Monday, October 27th. Sanford C. Bernstein boosted their target price on shares of Atlassian from $290.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, November 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $240.00 price target on shares of Atlassian in a research report on Friday, October 31st. Finally, Wall Street Zen upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and a consensus price target of $240.00.

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.