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

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $160.14, for a total transaction of $1,272,792.72. Following the sale, the director now directly owns 484,828 shares of the company’s stock, valued at approximately $77,640,355.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, September 9th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $163.82, for a total value of $1,302,041.36.
• On Tuesday, September 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.81, for a total value of $1,301,961.88.
• On Tuesday, August 27th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $164.81, for a total value of $1,309,909.88.
• On Wednesday, August 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $140.54, for a total value of $1,117,011.92.
• On Monday, August 5th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $143.54, for a total transaction of $1,140,855.92.
• On Monday, July 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $178.96, for a total transaction of $1,422,374.08.
• On Friday, July 19th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $175.91, for a total transaction of $1,398,132.68.
• On Friday, July 12th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $181.21, for a total value of $1,440,257.08.

Atlassian Price Performance

NASDAQ:TEAM traded up $10.56 during midday trading on Friday, hitting $171.00. 1,916,666 shares of the stock were exchanged, compared to its average volume of 1,775,611. The business has a 50-day moving average price of $159.20 and a two-hundred day moving average price of $172.81. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $44.47 billion, a price-to-earnings ratio of -257.16 and a beta of 0.73. Atlassian Co. has a one year low of $135.29 and a one year high of $258.69.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the business earned ($0.21) EPS. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. Sell-side analysts predict that Atlassian Co. will post -0.58 EPS for the current year.

Hedge Funds Weigh In On Atlassian

Several large investors have recently made changes to their positions in TEAM. First Trust Direct Indexing L.P. lifted its stake in Atlassian by 1.5% during the first quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock valued at $721,000 after purchasing an additional 55 shares during the last quarter. Park National Corp OH lifted its position in shares of Atlassian by 4.0% during the 1st quarter. Park National Corp OH now owns 1,497 shares of the technology company’s stock valued at $292,000 after acquiring an additional 58 shares during the last quarter. Financial Advocates Investment Management boosted its stake in shares of Atlassian by 1.7% during the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock worth $662,000 after acquiring an additional 62 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Atlassian by 1.4% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock worth $890,000 after acquiring an additional 65 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in Atlassian by 6.8% in the 1st quarter. UMB Bank n.a. now owns 1,112 shares of the technology company’s stock worth $217,000 after purchasing an additional 71 shares in the last quarter. Institutional investors own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Barclays lowered their target price on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Baird R W lowered shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Oppenheimer restated an “outperform” rating and issued a $230.00 target price on shares of Atlassian in a research note on Monday, September 23rd. The Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and increased their price target for the stock from $200.00 to $230.00 in a research report on Friday, August 2nd. Finally, Mizuho reduced their price objective on Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a research report on Tuesday, July 16th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $216.65.

About Atlassian

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.