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 dated Friday, January 31st. The shares were sold at an average price of $308.86, for a total transaction of $2,454,819.28. Following the sale, the director now directly owns 317,920 shares in the company, valued at approximately $98,192,771.20. The trade was a 2.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, January 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $270.63, for a total transaction of $2,150,967.24.
• On Tuesday, January 21st, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.71, for a total transaction of $2,032,383.08.
• On Friday, January 17th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $253.01, for a total transaction of $2,010,923.48.
• On Wednesday, December 18th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $258.33, for a total transaction of $2,053,206.84.
• On Tuesday, December 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were 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 shares were 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 stock was 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 stock was 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 shares were sold at an average price of $237.04, for a total transaction of $1,883,993.92.

Atlassian Trading Up 1.7 %

Shares of TEAM stock opened at $316.73 on Wednesday. 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 company has a market cap of $82.49 billion, a price-to-earnings ratio of -236.36 and a beta of 0.87. The stock has a 50 day simple moving average of $262.61 and a 200-day simple moving average of $210.38. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $324.37.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 18.00%. On average, equities research analysts expect that Atlassian Co. will post -0.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TEAM. Jefferies Financial Group boosted their target price on shares of Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Friday, January 24th. The Goldman Sachs Group boosted their target price on shares of Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a report on Monday. Citigroup boosted their price target on Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Truist Financial restated a “buy” rating and set a $350.00 price target (up previously from $300.00) on shares of Atlassian in a research note on Friday, January 31st. Finally, Mizuho upped their target price on Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $318.43.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Kirtland Hills Capital Management LLC acquired a new stake in shares of Atlassian in the 4th quarter worth $248,000. Illinois Municipal Retirement Fund grew its holdings in shares of Atlassian by 3.8% during the 4th quarter. Illinois Municipal Retirement Fund now owns 80,017 shares of the technology company’s stock worth $19,475,000 after purchasing an additional 2,935 shares during the period. Los Angeles Capital Management LLC boosted its holdings in Atlassian by 12,047.2% during the 4th quarter. Los Angeles Capital Management LLC now owns 228,124 shares of the technology company’s stock valued at $55,521,000 after acquiring an additional 226,246 shares during the period. Amalgamated Bank boosted its holdings in Atlassian by 2.8% during the 4th quarter. Amalgamated Bank now owns 10,710 shares of the technology company’s stock valued at $2,607,000 after acquiring an additional 296 shares during the period. Finally, Hardman Johnston Global Advisors LLC boosted its holdings in Atlassian by 0.8% during the 4th quarter. Hardman Johnston Global Advisors LLC now owns 528,349 shares of the technology company’s stock valued at $128,590,000 after acquiring an additional 4,421 shares during the period. 94.45% of the stock is owned by institutional investors and hedge funds.

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.