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 company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $156.15, for a total transaction of $1,196,889.75. Following the completion of the transaction, the director owned 459,900 shares of the company’s stock, valued at approximately $71,813,385. The trade was a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, December 31st, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.68, for a total transaction of $1,246,942.20.
• On Monday, December 29th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $163.66, for a total transaction of $1,254,453.90.
• On Friday, December 26th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.53, for a total value of $1,245,792.45.
• On Friday, December 19th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.40, for a total value of $1,244,796.00.
• On Tuesday, December 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $161.30, for a total value of $1,236,364.50.
• On Wednesday, December 17th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.16, for a total value of $1,250,621.40.
• On Monday, December 15th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $158.92, for a total value of $1,218,121.80.
• On Friday, December 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.11, for a total transaction of $1,242,573.15.
• On Wednesday, December 10th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were 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.

Atlassian Price Performance

TEAM traded down $0.88 during trading on Monday, hitting $153.88. 4,116,411 shares of the company traded hands, compared to its average volume of 3,388,296. 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 company has a market cap of $40.49 billion, a PE ratio of -216.73, a P/E/G ratio of 23.97 and a beta of 0.88. The stock’s 50-day simple moving average is $157.88 and its two-hundred day simple moving average is $170.56. Atlassian Corporation PLC has a 1 year low of $139.70 and a 1 year high of $326.00.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.83 by $0.21. The business had revenue of $1.43 billion during 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 business’s revenue was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 EPS. As a group, sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TEAM. TD Cowen dropped their price objective on shares of Atlassian from $220.00 to $205.00 and set a “hold” rating for the company in a research note on Monday, October 27th. Piper Sandler decreased their price objective on Atlassian from $300.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday. Guggenheim began coverage on Atlassian in a report on Thursday, September 11th. They issued a “buy” rating and a $225.00 target price for the company. Robert W. Baird set a $230.00 target price on Atlassian in a research report on Friday, October 31st. Finally, Mizuho increased their price target on Atlassian from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $238.46.

Institutional Investors Weigh In On Atlassian

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TEAM. Capco Asset Management LLC purchased a new position in shares of Atlassian during the second quarter worth approximately $25,000. Physician Wealth Advisors Inc. raised its position in Atlassian by 60.4% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after purchasing an additional 61 shares in the last quarter. Atlantic Union Bankshares Corp lifted its holdings in shares of Atlassian by 19,900.0% in 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 period. Geneos Wealth Management Inc. lifted its holdings in shares of Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after buying an additional 161 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Atlassian during the 3rd quarter worth $57,000. Institutional investors own 94.45% of the company’s stock.

About Atlassian

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.