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

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $162.40, for a total value of $1,244,796.00. Following the completion of the sale, the director owned 53,655 shares in the company, valued at approximately $8,713,572. This trade represents a 12.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, December 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $161.30, for a total value of $1,236,364.50.
• On Wednesday, December 17th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $163.16, for a total transaction of $1,250,621.40.
• On Monday, December 15th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $158.92, for a total transaction of $1,218,121.80.
• On Friday, December 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.11, for a total value of $1,242,573.15.
• On Wednesday, December 10th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $161.79, for a total value of $1,240,120.35.
• On Monday, December 8th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $160.70, for a total transaction of $1,231,765.50.
• On Friday, December 5th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.48, for a total transaction of $1,230,079.20.
• On Wednesday, December 3rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $155.08, for a total value of $1,188,688.20.
• 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 value 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 value of $1,136,642.85.

Atlassian Stock Performance

Shares of TEAM stock traded down $2.06 during trading on Tuesday, reaching $162.39. 1,858,326 shares of the company’s stock were exchanged, compared to its average volume of 2,494,999. Atlassian Corporation PLC has a twelve month low of $139.70 and a twelve month high of $326.00. The firm’s fifty day moving average price is $157.46 and its 200-day moving average price is $173.26. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $42.73 billion, a PE ratio of -228.72, a PEG ratio of 24.94 and a beta of 0.89.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.21. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.77 earnings per share. As a group, sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Hedge Funds Weigh In On Atlassian

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEAM. Capco Asset Management LLC purchased a new position in Atlassian in the 2nd quarter worth $25,000. Physician Wealth Advisors Inc. grew its holdings in shares of Atlassian by 60.4% during the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after buying an additional 61 shares during the last quarter. Atlantic Union Bankshares Corp lifted its holdings in shares of Atlassian by 19,900.0% during the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock valued at $32,000 after purchasing an additional 199 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company’s stock worth $42,000 after purchasing an additional 161 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in Atlassian during the third quarter valued at $57,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TEAM has been the subject of a number of research analyst reports. Guggenheim began coverage on Atlassian in a report on Thursday, September 11th. They set a “buy” rating and a $225.00 price objective for the company. Zacks Research upgraded shares of Atlassian from a “strong sell” rating to a “hold” rating in a research report on Monday, November 3rd. BMO Capital Markets raised their price target on shares of Atlassian from $190.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Bank of America initiated coverage on Atlassian in a report on Tuesday, September 23rd. They set a “neutral” rating and a $200.00 price objective on the stock. Finally, Sanford C. Bernstein boosted their target price on shares of Atlassian from $290.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, November 18th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $239.23.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.