Insider Selling: Atlassian Co. (NASDAQ:TEAM) Director Sells 7,948 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $234.38, for a total value of $1,862,852.24. Following the completion of the transaction, the director now directly owns 39,740 shares in the company, valued at approximately $9,314,261.20. The trade was a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, March 26th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $229.64, for a total value of $1,825,178.72.
• On Monday, March 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $218.05, for a total value of $1,733,061.40.
• On Friday, February 28th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.61, for a total value of $2,214,392.28.
• On Wednesday, February 26th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $289.77, for a total transaction of $2,303,091.96.
• On Monday, February 24th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $283.26, for a total transaction of $2,251,350.48.
• On Friday, February 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $315.69, for a total transaction of $2,509,104.12.
• On Friday, January 31st, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $308.86, for a total transaction of $2,454,819.28.
• On Wednesday, January 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $270.63, for a total value of $2,150,967.24.
• On Tuesday, January 21st, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.71, for a total value of $2,032,383.08.
• On Friday, January 17th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $253.01, for a total value of $2,010,923.48.

Atlassian Trading Down 3.1 %

Shares of Atlassian stock opened at $222.64 on Friday. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market cap of $58.33 billion, a P/E ratio of -166.15 and a beta of 0.91. The stock’s 50 day simple moving average is $269.96 and its 200-day simple moving average is $237.69.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Analysts predict that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on TEAM. Oppenheimer raised their price objective on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Macquarie raised their price target on shares of Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Barclays upped their price objective on shares of Atlassian from $275.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. William Blair restated an “outperform” rating on shares of Atlassian in a research report on Friday, January 31st. Finally, StockNews.com raised Atlassian from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and a consensus price target of $316.77.

Institutional Investors Weigh In On Atlassian

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp acquired a new position in Atlassian in the 4th quarter valued at about $27,000. Colonial Trust Co SC raised its position in shares of Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after buying an additional 69 shares during the period. True Wealth Design LLC lifted its holdings in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after acquiring an additional 231 shares during the last quarter. Summit Securities Group LLC purchased a new position in Atlassian in the fourth quarter worth approximately $38,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Atlassian during the fourth quarter worth $39,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

About Atlassian

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.