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

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $145.91, for a total value of $1,118,400.15. Following the transaction, the director directly owned 421,575 shares of the company’s stock, valued at approximately $61,512,008.25. This trade represents a 1.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, January 7th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.11, for a total transaction of $1,234,908.15.
• On Monday, January 5th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $154.20, for a total transaction of $1,181,943.00.
• On Friday, January 2nd, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $156.15, for a total transaction of $1,196,889.75.
• On Wednesday, December 31st, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.68, for a total value of $1,246,942.20.
• On Monday, December 29th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.66, for a total value of $1,254,453.90.
• On Friday, December 26th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.53, for a total value of $1,245,792.45.
• On Friday, December 19th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.40, for a total value of $1,244,796.00.
• On Tuesday, December 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.30, for a total transaction 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.

Atlassian Stock Performance

Shares of Atlassian stock traded up $0.02 during trading on Monday, hitting $146.44. 2,515,418 shares of the stock were exchanged, compared to its average volume of 3,259,163. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The company has a fifty day moving average price of $156.91 and a 200-day moving average price of $169.09. The stock has a market capitalization of $38.53 billion, a price-to-earnings ratio of -206.25, a price-to-earnings-growth ratio of 22.67 and a beta of 0.88. Atlassian Corporation PLC has a 1-year low of $139.70 and a 1-year high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results 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 business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.Atlassian’s quarterly revenue was up 20.6% on a year-over-year basis. During the same quarter last year, the company posted $0.77 earnings per share. As a group, equities analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Atlassian

A number of institutional investors have recently added to or reduced their stakes in the stock. Physician Wealth Advisors Inc. boosted its position in Atlassian by 60.4% in 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 in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Atlassian by 12.0% during the 4th quarter. GAMMA Investing LLC now owns 615 shares of the technology company’s stock valued at $100,000 after acquiring an additional 66 shares in the last quarter. Snowden Capital Advisors LLC grew its position in Atlassian by 1.6% during the 2nd quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company’s stock worth $907,000 after acquiring an additional 71 shares during the last quarter. Cetera Investment Advisers increased its holdings in Atlassian by 0.3% in the 2nd quarter. Cetera Investment Advisers now owns 24,808 shares of the technology company’s stock worth $5,038,000 after purchasing an additional 79 shares in the last quarter. Finally, ABN Amro Investment Solutions increased its holdings in Atlassian by 3.4% in the 3rd quarter. ABN Amro Investment Solutions now owns 2,452 shares of the technology company’s stock worth $392,000 after purchasing an additional 80 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on TEAM shares. Sanford C. Bernstein upped their price target on shares of Atlassian from $290.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, November 18th. Wells Fargo & Company began coverage on Atlassian in a report on Tuesday, September 30th. They set an “overweight” rating and a $216.00 price objective for the company. BMO Capital Markets increased their target price on Atlassian from $190.00 to $195.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Piper Sandler decreased their price objective on Atlassian from $300.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, January 5th. Finally, Mizuho lifted their target price on Atlassian from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $238.46.

About Atlassian

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.