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

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $182.62, for a total value of $1,451,463.76. Following the sale, the chief executive officer now owns 484,828 shares of the company’s stock, valued at $88,539,289.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, July 1st, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $177.25, for a total value of $1,408,783.00.
• 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 shares were sold at an average price of $156.59, for a total transaction of $1,244,577.32.
• On Tuesday, June 18th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $153.84, for a total transaction 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 value 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 value 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 value of $1,298,122.32.
• On Thursday, May 30th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were 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 transaction of $1,401,382.05.
• On Friday, May 17th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $181.34, for a total transaction of $1,494,422.94.

Atlassian Stock Performance

Shares of TEAM opened at $182.26 on Thursday. The company has a market capitalization of $47.44 billion, a PE ratio of -289.30 and a beta of 0.74. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. The company’s 50 day moving average price is $171.25 and its 200 day moving average price is $200.67. Atlassian Co. has a 52 week low of $152.34 and a 52 week high of $258.69.

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

Analysts Set New Price Targets

Several research firms have commented on TEAM. TD Cowen decreased their target price on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating for the company in a research report on Friday, April 26th. Oppenheimer decreased their price objective on Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Wells Fargo & Company lowered their target price on Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Canaccord Genuity Group reduced their price target on Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Finally, Truist Financial decreased their price target on Atlassian from $220.00 to $200.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Eight research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $226.94.

Institutional Trading of Atlassian

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. grew its holdings in Atlassian by 20.7% during the fourth quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after purchasing an additional 1,511,318 shares during the last quarter. Morgan Stanley grew its stake in Atlassian by 156.8% in the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock valued at $361,449,000 after buying an additional 1,095,297 shares during the last quarter. Norges Bank acquired a new position in Atlassian during the 4th quarter worth $247,740,000. Price T Rowe Associates Inc. MD lifted its position in Atlassian by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after acquiring an additional 904,138 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Atlassian by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock valued at $3,652,495,000 after acquiring an additional 504,181 shares during the period. Institutional investors and hedge funds own 93.03% 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.