Insider Selling: Atlassian Co. (NASDAQ:TEAM) Director Sells 7,948 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $258.33, for a total value of $2,053,206.84. Following the sale, the director now directly owns 63,584 shares in the company, valued at approximately $16,425,654.72. This represents a 11.11 % 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 Tuesday, December 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $269.35, for a total transaction of $2,140,793.80.
• On Monday, December 2nd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $265.96, for a total transaction of $2,113,850.08.
• On Monday, November 25th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $264.20, for a total transaction of $2,099,861.60.
• On Wednesday, November 20th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $244.81, for a total value of $1,945,749.88.
• On Monday, November 11th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $244.84, for a total value of $1,945,988.32.
• On Friday, November 8th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $237.04, for a total value of $1,883,993.92.
• On Monday, November 4th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $219.07, for a total transaction of $1,741,168.36.
• On Wednesday, October 16th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $189.96, for a total transaction of $1,509,802.08.
• On Monday, October 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $169.00, for a total value of $1,343,212.00.
• On Thursday, October 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $160.14, for a total value of $1,272,792.72.

Atlassian Trading Up 2.4 %

Atlassian stock opened at $257.26 on Friday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $287.97. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market capitalization of $67.00 billion, a price-to-earnings ratio of -169.25 and a beta of 0.80. The company has a 50 day moving average price of $237.54 and a 200 day moving average price of $190.31.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.64 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. Atlassian’s revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.07) earnings per share. Research analysts forecast that Atlassian Co. will post -0.54 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on TEAM shares. Robert W. Baird increased their price target on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Canaccord Genuity Group raised their target price on shares of Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Friday. Morgan Stanley upped their price target on shares of Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Wells Fargo & Company raised their price objective on shares of Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Finally, Oppenheimer upped their target price on Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Ten research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $258.00.

Institutional Trading of Atlassian

A number of hedge funds have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Atlassian during the 2nd quarter valued at $242,000. Fifth Third Bancorp raised its holdings in shares of Atlassian by 6.9% during the second quarter. Fifth Third Bancorp now owns 10,836 shares of the technology company’s stock worth $1,917,000 after acquiring an additional 698 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Atlassian by 3.3% during the second quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the technology company’s stock valued at $2,246,000 after purchasing an additional 400 shares during the last quarter. Hills Bank & Trust Co acquired a new position in Atlassian in the 2nd quarter worth about $161,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Atlassian by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 783,688 shares of the technology company’s stock worth $138,619,000 after purchasing an additional 26,555 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

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.