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

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $289.77, for a total transaction of $2,303,091.96. Following the transaction, the director now directly owns 182,804 shares in the company, valued at approximately $52,971,115.08. This represents a 4.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Monday, February 24th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $283.26, for a total transaction of $2,251,350.48.
• On Friday, February 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $315.69, for a total transaction of $2,509,104.12.
• On Friday, January 31st, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $308.86, for a total transaction of $2,454,819.28.
• On Wednesday, January 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were 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 shares were 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 shares were 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 shares were 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.

Atlassian Stock Up 2.1 %

NASDAQ:TEAM opened at $284.26 on Friday. The firm has a 50-day simple moving average of $274.71 and a two-hundred day simple moving average of $226.71. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The firm has a market cap of $74.48 billion, a P/E ratio of -212.13 and a beta of 0.87. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. Analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlassian

A number of institutional investors and hedge funds have recently made changes to their positions in TEAM. Massachusetts Financial Services Co. MA purchased a new position in shares of Atlassian in the fourth quarter worth approximately $687,486,000. Voya Investment Management LLC lifted its holdings in Atlassian by 17,941.0% during the fourth quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company’s stock valued at $528,693,000 after purchasing an additional 2,160,810 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock valued at $1,042,737,000 after purchasing an additional 1,806,042 shares in the last quarter. Invesco Ltd. lifted its holdings in Atlassian by 265.9% during the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock valued at $595,171,000 after purchasing an additional 1,777,179 shares in the last quarter. Finally, Durable Capital Partners LP lifted its holdings in Atlassian by 499.7% during the fourth quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company’s stock valued at $383,456,000 after purchasing an additional 1,312,820 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TEAM shares. The Goldman Sachs Group raised their target price on shares of Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. Robert W. Baird raised their target price on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Cantor Fitzgerald raised their target price on shares of Atlassian from $264.00 to $304.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Mizuho lifted their price target on shares of Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a research report on Friday, January 31st. Finally, BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $255.00 to $292.00 in a research report on Friday, January 10th. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $319.71.

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.