Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,593,397.35 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $193.35, for a total transaction of $1,593,397.35. Following the completion of the sale, the chief executive officer now owns 382,932 shares of the company’s stock, valued at $74,039,902.20. 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 Wednesday, April 24th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $199.71, for a total value of $1,645,810.11.
• On Friday, April 12th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $207.36, for a total transaction of $1,708,853.76.
• On Thursday, March 28th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $194.67, for a total value of $1,604,275.47.
• On Friday, March 22nd, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $192.73, for a total transaction of $1,588,287.93.
• On Monday, March 18th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $197.25, for a total value of $1,625,537.25.
• On Monday, March 11th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $214.32, for a total value of $1,766,211.12.
• On Friday, March 1st, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $207.85, for a total transaction of $1,712,891.85.
• On Monday, February 26th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $204.79, for a total transaction of $1,687,674.39.
• On Tuesday, February 20th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $204.63, for a total transaction of $1,686,355.83.
• On Monday, February 12th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $218.32, for a total transaction of $1,799,175.12.

Atlassian Stock Performance

Shares of NASDAQ:TEAM opened at $198.41 on Friday. The firm’s 50 day simple moving average is $200.55 and its 200 day simple moving average is $206.69. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69. The company has a market capitalization of $51.47 billion, a price-to-earnings ratio of -133.16 and a beta of 0.63. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. As a group, sell-side analysts forecast that Atlassian Co. will post -0.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TEAM. Mizuho dropped their target price on Atlassian from $265.00 to $240.00 and set a “buy” rating for the company in a report on Monday, April 15th. The Goldman Sachs Group lifted their price objective on Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Citigroup lowered their target price on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a report on Friday, April 12th. Barclays raised shares of Atlassian from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $235.00 to $275.00 in a report on Thursday, April 11th. Finally, KeyCorp initiated coverage on shares of Atlassian in a research note on Tuesday, March 19th. They set a “sector weight” rating on the stock. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Atlassian has a consensus rating of “Hold” and a consensus price target of $224.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. OFI Invest Asset Management bought a new stake in shares of Atlassian in the third quarter worth about $26,000. Carmel Capital Partners LLC grew its position in shares of Atlassian by 28.5% in the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock valued at $52,000 after purchasing an additional 57 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its stake in Atlassian by 271.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock worth $88,000 after purchasing an additional 271 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Atlassian by 255.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock worth $96,000 after buying an additional 291 shares during the period. Finally, GAMMA Investing LLC bought a new position in Atlassian in the fourth quarter valued at approximately $107,000. 93.03% of the stock is currently owned by 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.