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

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $162.11, for a total value of $1,242,573.15. Following the completion of the sale, the director owned 91,980 shares of the company’s stock, valued at approximately $14,910,877.80. This trade represents a 7.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Wednesday, December 10th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was 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 stock was 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 shares were 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 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 stock was sold at an average price of $148.29, for a total transaction 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 shares were sold at an average price of $147.63, for a total value 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 value of $1,129,897.65.

Atlassian Trading Down 1.8%

Atlassian stock traded down $2.87 during mid-day trading on Monday, hitting $159.17. The stock had a trading volume of 2,680,729 shares, compared to its average volume of 2,495,243. The stock has a 50-day simple moving average of $155.86 and a two-hundred day simple moving average of $175.26. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $41.88 billion, a PE ratio of -224.18, a P/E/G ratio of 30.56 and a beta of 0.89. Atlassian Corporation PLC has a 12 month low of $139.70 and a 12 month high of $326.00.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.21. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The company’s revenue was up 20.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS. As a group, sell-side analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TEAM shares. Truist Financial set a $210.00 target price on shares of Atlassian in a report on Friday, October 31st. UBS Group reduced their price target on Atlassian from $215.00 to $185.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Wall Street Zen upgraded Atlassian from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. The Goldman Sachs Group reissued a “buy” rating and issued a $260.00 target price on shares of Atlassian in a research note on Friday, October 31st. Finally, KeyCorp decreased their target price on Atlassian from $250.00 to $210.00 and set an “overweight” rating for the company in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $240.00.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. State of Wyoming raised its holdings in shares of Atlassian by 20.3% during the first quarter. State of Wyoming now owns 278 shares of the technology company’s stock worth $59,000 after acquiring an additional 47 shares during the period. Physician Wealth Advisors Inc. boosted its stake in Atlassian by 60.4% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock worth $26,000 after purchasing an additional 61 shares during the period. EP Wealth Advisors LLC increased its holdings in Atlassian by 2.8% during the 1st quarter. EP Wealth Advisors LLC now owns 2,641 shares of the technology company’s stock worth $561,000 after purchasing an additional 71 shares in the last quarter. Snowden Capital Advisors LLC raised its stake in shares of Atlassian by 1.6% in the 2nd quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock valued at $907,000 after purchasing an additional 71 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Atlassian by 11.5% in the first quarter. Smartleaf Asset Management LLC now owns 716 shares of the technology company’s stock valued at $156,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Atlassian Company Profile

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.