Atlassian (NASDAQ:TEAM) Director Scott Farquhar Sells 7,665 Shares of Stock

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $155.08, for a total value of $1,188,688.20. Following the completion of the transaction, the director directly owned 145,635 shares in the company, valued at approximately $22,585,075.80. This represents a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, November 28th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $150.12, for a total transaction of $1,150,669.80.
• On Wednesday, November 26th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $148.29, for a total transaction of $1,136,642.85.
• On Monday, November 24th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $146.62, for a total transaction of $1,123,842.30.
• On Friday, November 21st, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $144.02, for a total transaction of $1,103,913.30.
• On Wednesday, November 19th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $147.63, for a total transaction of $1,131,583.95.
• On Monday, November 17th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $147.41, for a total transaction of $1,129,897.65.
• On Thursday, November 13th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $153.77, for a total transaction of $1,178,647.05.
• On Monday, November 10th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $158.00, for a total value of $1,211,070.00.
• On Friday, November 7th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $155.58, for a total value of $1,192,520.70.
• On Wednesday, November 5th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.66, for a total value of $1,246,788.90.

Atlassian Stock Up 0.7%

NASDAQ TEAM opened at $157.68 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. Atlassian Corporation PLC has a 52 week low of $139.70 and a 52 week high of $326.00. The firm has a market capitalization of $41.49 billion, a price-to-earnings ratio of -221.74, a PEG ratio of 29.57 and a beta of 0.89. The company has a fifty day moving average of $155.35 and a two-hundred day moving average of $177.80.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.21. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.40 billion. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The business’s revenue was up 20.6% on a year-over-year basis. During the same quarter last year, the business earned $0.77 EPS. On average, analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Hedge Funds Weigh In On Atlassian

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Atlassian by 6.0% in the third quarter. Vanguard Group Inc. now owns 18,479,561 shares of the technology company’s stock worth $2,951,186,000 after purchasing an additional 1,049,483 shares in the last quarter. Artisan Partners Limited Partnership grew its position in shares of Atlassian by 66.3% in the 2nd quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company’s stock worth $787,610,000 after buying an additional 1,545,546 shares during the last quarter. State Street Corp raised its stake in shares of Atlassian by 1.9% during the 3rd quarter. State Street Corp now owns 3,867,995 shares of the technology company’s stock worth $617,719,000 after acquiring an additional 73,014 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Atlassian by 18.7% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,867,886 shares of the technology company’s stock valued at $458,001,000 after acquiring an additional 451,706 shares during the last quarter. Finally, DNB Asset Management AS boosted its stake in Atlassian by 266.6% in the third quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company’s stock valued at $448,260,000 after acquiring an additional 2,041,210 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Sanford C. Bernstein upped their price objective on Atlassian from $290.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, November 18th. Wall Street Zen raised shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Atlassian in a research note on Wednesday, October 8th. Zacks Research upgraded Atlassian from a “strong sell” rating to a “hold” rating in a report on Monday, November 3rd. Finally, Mizuho raised their price target on Atlassian from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus price target of $240.00.

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.