Atlassian Co. (NASDAQ:TEAM) Director Sells $1,509,802.08 in Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $189.96, for a total transaction of $1,509,802.08. Following the completion of the transaction, the director now owns 413,296 shares of the company’s stock, valued at $78,509,708.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, October 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $169.00, for a total transaction of $1,343,212.00.
• On Thursday, October 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $160.14, for a total transaction of $1,272,792.72.
• On Monday, September 9th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.82, for a total transaction of $1,302,041.36.
• On Tuesday, September 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $163.81, for a total transaction 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 transaction 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 transaction of $1,117,011.92.
• On Monday, August 5th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were 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 shares were sold at an average price of $175.91, for a total transaction of $1,398,132.68.

Atlassian Trading Up 1.7 %

Shares of NASDAQ:TEAM opened at $191.70 on Friday. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69. The firm has a market capitalization of $49.85 billion, a price-to-earnings ratio of -165.26 and a beta of 0.73. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.18 and a quick ratio of 1.18. The business’s 50 day moving average price is $164.91 and its 200-day moving average price is $171.72.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the company earned ($0.21) EPS. The firm’s revenue was up 20.5% compared to the same quarter last year. On average, equities research analysts forecast that Atlassian Co. will post -0.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TEAM. First Trust Direct Indexing L.P. increased its stake in shares of Atlassian by 1.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock worth $721,000 after acquiring an additional 55 shares during the last quarter. Financial Advocates Investment Management increased its position 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 purchasing an additional 62 shares during the last quarter. Ameritas Investment Partners Inc. increased its position 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 purchasing an additional 65 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Atlassian by 0.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 19,544 shares of the technology company’s stock worth $3,813,000 after purchasing an additional 72 shares during the last quarter. Finally, SkyView Investment Advisors LLC increased its position in shares of Atlassian by 2.1% during the 1st quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company’s stock worth $775,000 after purchasing an additional 80 shares during the last quarter. 93.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TEAM shares. Raymond James upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a report on Tuesday, October 1st. Barclays cut their price target on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Truist Financial cut their price target on shares of Atlassian from $200.00 to $160.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. BMO Capital Markets cut their price target on shares of Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a report on Friday, August 2nd. Finally, Capital One Financial upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target on the stock in a report on Thursday, July 11th. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $215.12.

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.