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

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $264.20, for a total value of $2,099,861.60. Following the completion of the transaction, the director now owns 190,752 shares in the company, valued at $50,396,678.40. This represents a 4.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 transaction of $1,945,749.88.
• On Monday, November 11th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $244.84, for a total transaction 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 value 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 value of $1,509,802.08.
• 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 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 shares were sold at an average price of $163.81, for a total value of $1,301,961.88.

Atlassian Stock Performance

Shares of NASDAQ:TEAM opened at $262.46 on Thursday. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. The business’s fifty day moving average price is $202.56 and its two-hundred day moving average price is $178.71. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $269.40. The stock has a market capitalization of $68.35 billion, a price-to-earnings ratio of -172.67 and a beta of 0.71.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC increased its holdings in Atlassian by 1,089.4% during the 1st quarter. Lazard Asset Management LLC now owns 35,764 shares of the technology company’s stock valued at $6,976,000 after purchasing an additional 32,757 shares in the last quarter. BOKF NA grew its holdings in shares of Atlassian by 15.7% during the first quarter. BOKF NA now owns 7,047 shares of the technology company’s stock worth $1,363,000 after purchasing an additional 955 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of Atlassian by 72.2% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,998 shares of the technology company’s stock valued at $604,000 after buying an additional 1,257 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Atlassian by 10.0% in the first quarter. Tidal Investments LLC now owns 4,085 shares of the technology company’s stock valued at $797,000 after buying an additional 373 shares during the last quarter. Finally, SkyView Investment Advisors LLC lifted its position in 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 buying an additional 80 shares in the last quarter. Institutional investors own 93.03% of the company’s stock.

Wall Street Analyst Weigh In

TEAM has been the topic of several analyst reports. Truist Financial increased their price target on Atlassian from $160.00 to $200.00 and gave the company a “hold” rating in a report on Friday, November 1st. BMO Capital Markets boosted their price objective on Atlassian from $177.00 to $255.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. Wells Fargo & Company raised their target price on Atlassian from $250.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, November 1st. KeyCorp upgraded Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price target for the company in a report on Friday, November 1st. Finally, Mizuho raised their price objective on shares of Atlassian from $200.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $244.21.

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.