Atlassian (NASDAQ:TEAM) Director Sells 7,665 Shares

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $136.93, for a total value of $1,049,568.45. Following the completion of the sale, the director directly owned 344,925 shares in the company, valued at approximately $47,230,580.25. The trade was a 2.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, January 22nd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $126.11, for a total value of $966,633.15.
• On Tuesday, January 20th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $118.19, for a total value of $905,926.35.
• On Friday, January 16th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $120.82, for a total value of $926,085.30.
• On Wednesday, January 14th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $133.66, for a total value of $1,024,503.90.
• On Monday, January 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $147.15, for a total value of $1,127,904.75.
• On Friday, January 9th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $145.91, for a total transaction of $1,118,400.15.
• On Wednesday, January 7th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $161.11, for a total transaction of $1,234,908.15.
• On Monday, January 5th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $154.20, for a total value of $1,181,943.00.
• On Friday, January 2nd, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $156.15, for a total value of $1,196,889.75.
• 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.

Atlassian Stock Performance

TEAM traded down $4.58 on Tuesday, hitting $133.86. The company had a trading volume of 4,266,318 shares, compared to its average volume of 4,649,754. Atlassian Corporation PLC has a 1-year low of $115.53 and a 1-year high of $326.00. The stock has a market cap of $35.22 billion, a price-to-earnings ratio of -188.53, a price-to-earnings-growth ratio of 20.40 and a beta of 0.88. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The company’s fifty day moving average price is $150.56 and its 200 day moving average price is $162.89.

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

Institutional Trading of Atlassian

Several large investors have recently made changes to their positions in TEAM. NewEdge Advisors LLC boosted its stake in shares of Atlassian by 71.6% during the 1st quarter. NewEdge Advisors LLC now owns 5,432 shares of the technology company’s stock worth $1,153,000 after buying an additional 2,267 shares during the last quarter. Empowered Funds LLC increased its position in shares of Atlassian by 39.5% during the first quarter. Empowered Funds LLC now owns 4,689 shares of the technology company’s stock worth $995,000 after buying an additional 1,328 shares during the period. Focus Partners Wealth increased its position in Atlassian by 32.6% in the 1st quarter. Focus Partners Wealth now owns 4,122 shares of the technology company’s stock valued at $875,000 after buying an additional 1,014 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after acquiring an additional 161 shares during the last quarter. Finally, Sivia Capital Partners LLC boosted its stake in Atlassian by 27.5% in the second quarter. Sivia Capital Partners LLC now owns 1,873 shares of the technology company’s stock valued at $380,000 after acquiring an additional 404 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TEAM. Cantor Fitzgerald reiterated an “overweight” rating and set a $240.00 target price on shares of Atlassian in a research report on Friday, October 31st. Macquarie decreased their price objective on shares of Atlassian from $250.00 to $240.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Sanford C. Bernstein boosted their price objective on Atlassian from $290.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 18th. BTIG Research reissued a “buy” rating and issued a $220.00 price target on shares of Atlassian in a research report on Tuesday, January 13th. Finally, Jefferies Financial Group set a $262.00 price target on shares of Atlassian in a research report on Thursday, January 15th. Twenty-one analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $231.54.

Atlassian Company Profile

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.