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

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $177.25, for a total transaction of $1,408,783.00. Following the completion of the sale, the chief executive officer now owns 500,724 shares in the company, valued at $88,753,329. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, June 28th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $176.05, for a total value of $1,399,245.40.
• On Thursday, June 20th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $156.59, for a total value of $1,244,577.32.
• On Tuesday, June 18th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $153.84, for a total value of $1,222,720.32.
• On Friday, June 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $162.61, for a total transaction of $1,292,424.28.
• On Monday, June 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $162.20, for a total transaction of $1,289,165.60.
• On Wednesday, June 5th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $157.52, for a total transaction of $1,298,122.32.
• On Thursday, May 30th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $161.00, for a total value of $1,326,801.00.
• On Friday, May 24th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $170.05, for a total value of $1,401,382.05.
• On Friday, May 17th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $181.34, for a total transaction of $1,494,422.94.
• On Friday, May 3rd, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $183.51, for a total transaction of $1,512,305.91.

Atlassian Price Performance

Atlassian stock opened at $182.28 on Wednesday. The company’s 50-day moving average price is $171.58 and its two-hundred day moving average price is $200.80. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a twelve month low of $152.34 and a twelve month high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.27. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.40) EPS. On average, equities research analysts predict that Atlassian Co. will post -0.21 EPS for the current year.

Hedge Funds Weigh In On Atlassian

Several institutional investors have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC purchased a new stake in shares of Atlassian during the third quarter valued at approximately $701,000. Bank of Nova Scotia bought a new position in shares of Atlassian during the 3rd quarter valued at approximately $347,000. Toronto Dominion Bank purchased a new stake in shares of Atlassian during the 3rd quarter worth approximately $6,041,000. Gotham Asset Management LLC raised its holdings in shares of Atlassian by 348.5% in the 3rd quarter. Gotham Asset Management LLC now owns 11,836 shares of the technology company’s stock worth $2,385,000 after purchasing an additional 9,197 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Atlassian in the third quarter valued at approximately $672,000. 93.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TEAM shares. Citigroup decreased their price target on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a report on Friday, April 12th. StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a research note on Friday, June 7th. Robert W. Baird decreased their target price on Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Truist Financial reduced their target price on shares of Atlassian from $220.00 to $200.00 and set a “hold” rating for the company in a report on Friday, April 26th. Finally, Canaccord Genuity Group dropped their price target on Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.94.

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.