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

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $244.81, for a total transaction of $1,945,749.88. Following the completion of the transaction, the director now directly owns 214,596 shares of the company’s stock, valued at $52,535,246.76. This trade represents a 3.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• 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 shares were sold at an average price of $237.04, for a total transaction of $1,883,993.92.
• On Monday, November 4th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were 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 shares were 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 transaction 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 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 transaction 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 transaction of $1,301,961.88.
• On Tuesday, August 27th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $164.81, for a total transaction of $1,309,909.88.

Atlassian Stock Up 3.4 %

TEAM stock traded up $8.46 during trading hours on Thursday, hitting $253.91. The company’s stock had a trading volume of 1,813,289 shares, compared to its average volume of 1,869,570. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The company has a market capitalization of $66.13 billion, a PE ratio of -161.48 and a beta of 0.71. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69. The stock has a 50 day moving average price of $192.77 and a two-hundred day moving average price of $175.94.

Atlassian (NASDAQ:TEAM) last posted 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 company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) earnings per share. On average, equities research analysts expect that Atlassian Co. will post -0.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Truist Financial boosted their price target on shares of Atlassian from $160.00 to $200.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. UBS Group boosted their target price on shares of Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Baird R W downgraded shares of Atlassian from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Oppenheimer boosted their target price on shares of Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company boosted their target price on shares of Atlassian from $250.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $244.21.

Institutional Trading of Atlassian

Institutional investors and hedge funds have recently modified their holdings of the company. Asset Dedication LLC lifted its stake in shares of Atlassian by 229.8% in the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock worth $27,000 after buying an additional 108 shares during the last quarter. Trust Co. of Vermont lifted its stake in shares of Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after buying an additional 174 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of Atlassian in the second quarter worth $36,000. GAMMA Investing LLC lifted its stake in shares of Atlassian by 68.6% in the third quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after buying an additional 96 shares during the last quarter. Finally, True Wealth Design LLC raised 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 valued at $37,000 after purchasing an additional 231 shares during the last quarter. 93.03% of the stock is currently owned by institutional investors and hedge funds.

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.