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

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $278.61, for a total value of $2,214,392.28. Following the completion of the sale, the director now owns 166,908 shares of the company’s stock, valued at $46,502,237.88. This trade represents a 4.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 transaction 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 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 stock was 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 stock was sold at an average price of $270.63, for a total value 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 value 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 value 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 value of $2,053,206.84.
• On Tuesday, December 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $269.35, for a total transaction of $2,140,793.80.

Atlassian Trading Down 3.5 %

Shares of NASDAQ TEAM opened at $274.22 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $71.85 billion, a PE ratio of -204.64 and a beta of 0.87. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The stock has a fifty day simple moving average of $275.70 and a 200-day simple moving average of $229.79.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share 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%. On average, equities analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. BMO Capital Markets upgraded Atlassian from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $255.00 to $292.00 in a report on Friday, January 10th. KeyCorp increased their price target on Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, January 31st. The Goldman Sachs Group boosted their price objective on Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 3rd. Finally, Macquarie raised their target price on Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $319.71.

Institutional Investors Weigh In On Atlassian

Several large investors have recently added to or reduced their stakes in TEAM. Wealth Enhancement Advisory Services LLC grew its stake in shares of Atlassian by 96.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,730 shares of the technology company’s stock worth $1,228,000 after acquiring an additional 3,797 shares in the last quarter. abrdn plc boosted its holdings in Atlassian by 19.9% in the third quarter. abrdn plc now owns 54,989 shares of the technology company’s stock valued at $8,733,000 after purchasing an additional 9,137 shares during the period. Harbor Capital Advisors Inc. grew its stake in Atlassian by 89.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 11,158 shares of the technology company’s stock worth $1,772,000 after purchasing an additional 5,258 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Atlassian by 3.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 46,211 shares of the technology company’s stock worth $7,339,000 after purchasing an additional 1,327 shares during the period. Finally, National Pension Service raised its position in Atlassian by 8.4% in the 3rd quarter. National Pension Service now owns 296,066 shares of the technology company’s stock valued at $47,018,000 after purchasing an additional 22,883 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

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.