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 that occurred on Monday, March 24th. The stock was sold at an average price of $234.38, for a total transaction of $1,862,852.24. Following the sale, the director now directly owns 39,740 shares in the company, valued at $9,314,261.20. The trade was a 16.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, March 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $218.05, for a total transaction of $1,733,061.40.
• On Friday, February 28th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.61, for a total transaction of $2,214,392.28.
• On Wednesday, February 26th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $289.77, for a total value of $2,303,091.96.
• On Monday, February 24th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $283.26, for a total value 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 value 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 value of $2,454,819.28.
• 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 shares were sold at an average price of $253.01, for a total transaction of $2,010,923.48.

Atlassian Stock Up 0.7 %

Shares of NASDAQ TEAM opened at $236.22 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The business’s 50 day moving average is $271.00 and its two-hundred day moving average is $237.85. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The firm has a market cap of $61.89 billion, a price-to-earnings ratio of -176.28 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (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 17.37%. Research analysts predict that Atlassian Co. will post -0.34 EPS for the current year.

Wall Street Analyst Weigh In

TEAM has been the topic of several research reports. Stephens initiated coverage on Atlassian in a research report on Wednesday, March 19th. They issued an “equal weight” rating and a $255.00 target price on the stock. Canaccord Genuity Group raised their price objective on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 20th. JMP Securities reaffirmed a “market perform” rating on shares of Atlassian in a report on Friday, January 31st. BMO Capital Markets raised shares of Atlassian from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $255.00 to $292.00 in a research note on Friday, January 10th. Finally, Jefferies Financial Group boosted their price target on shares of Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Nine investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and an average target price of $316.77.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Murphy & Mullick Capital Management Corp purchased a new position in Atlassian in the 4th quarter valued at approximately $27,000. Colonial Trust Co SC boosted its holdings in Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after purchasing an additional 69 shares during the period. True Wealth Design LLC grew its stake in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after purchasing an additional 231 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Atlassian during the 4th quarter worth about $38,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Atlassian in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

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.