Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells 8,241 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $177.14, for a total value of $1,459,810.74. Following the completion of the sale, the chief executive officer now owns 341,727 shares in the company, valued at $60,533,520.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 stock was sold at an average price of $199.71, for a total transaction of $1,645,810.11.
• On Monday, April 22nd, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $193.35, for a total transaction of $1,593,397.35.
• 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 value 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 transaction of $1,625,537.25.
• On Monday, March 11th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $214.32, for a total transaction of $1,766,211.12.
• On Friday, March 1st, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were 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 value of $1,687,674.39.
• On Tuesday, February 20th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $204.63, for a total value of $1,686,355.83.

Atlassian Price Performance

TEAM stock traded down $4.77 on Tuesday, hitting $172.30. 2,659,720 shares of the company’s stock traded hands, compared to its average volume of 1,750,434. The stock has a market cap of $44.70 billion, a price-to-earnings ratio of -272.22 and a beta of 0.63. Atlassian Co. has a 1-year low of $128.02 and a 1-year high of $258.69. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. The stock has a fifty day moving average of $199.36 and a 200-day moving average of $206.52.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.27. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 15.54%. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.40) EPS. On average, analysts forecast that Atlassian Co. will post -0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlassian

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Graypoint LLC lifted its holdings in Atlassian by 2.4% in the fourth quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock valued at $424,000 after buying an additional 42 shares during the period. Legacy Wealth Asset Management LLC boosted its position in shares of Atlassian by 1.4% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock worth $736,000 after purchasing an additional 43 shares during the last quarter. Park National Corp OH grew its stake in shares of Atlassian by 3.5% during the fourth quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock worth $342,000 after purchasing an additional 48 shares during the period. First Trust Direct Indexing L.P. grew its stake in shares of Atlassian by 1.5% during the first quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock worth $721,000 after purchasing an additional 55 shares during the period. Finally, UMB Bank n.a. increased its holdings in Atlassian by 5.7% in the fourth quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock valued at $248,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 93.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TEAM shares. Wells Fargo & Company raised their target price on shares of Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Canaccord Genuity Group lowered their target price on Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a research note on Friday. KeyCorp assumed coverage on Atlassian in a research report on Tuesday, March 19th. They set a “sector weight” rating on the stock. Robert W. Baird lowered their price objective on shares of Atlassian from $270.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Mizuho reduced their target price on shares of Atlassian from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $223.22.

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.