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 stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $269.35, for a total value of $2,140,793.80. Following the transaction, the director now directly owns 111,272 shares of the company’s stock, valued at $29,971,113.20. The trade was a 6.67 % decrease in their position. The sale 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 Monday, December 2nd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $265.96, for a total value of $2,113,850.08.
• On Monday, November 25th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $264.20, for a total transaction of $2,099,861.60.
• On Wednesday, November 20th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $244.81, for a total transaction of $1,945,749.88.
• On Monday, November 11th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $244.84, for a total value of $1,945,988.32.
• On Friday, November 8th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $237.04, for a total value of $1,883,993.92.
• On Monday, November 4th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $219.07, for a total transaction of $1,741,168.36.
• On Wednesday, October 16th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $189.96, for a total transaction of $1,509,802.08.
• On Monday, October 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $169.00, for a total value of $1,343,212.00.
• On Thursday, October 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $160.14, for a total value of $1,272,792.72.

Atlassian Trading Down 0.2 %

NASDAQ TEAM opened at $278.65 on Friday. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $287.97. The firm has a 50 day moving average of $226.93 and a two-hundred day moving average of $185.86. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $72.57 billion, a PE ratio of -183.32 and a beta of 0.80.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. The company’s revenue was up 21.5% compared to the same quarter last year. As a group, research analysts expect that Atlassian Co. will post -0.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlassian

Several hedge funds and other institutional investors have recently made changes to their positions in TEAM. Oddo BHF Asset Management Sas purchased a new position in Atlassian in the third quarter valued at approximately $11,438,000. Tri Ri Asset Management Corp acquired a new position in shares of Atlassian in the 3rd quarter valued at $2,584,000. Synovus Financial Corp grew its position in shares of Atlassian by 26.4% in the 3rd quarter. Synovus Financial Corp now owns 19,962 shares of the technology company’s stock valued at $3,170,000 after buying an additional 4,173 shares during the last quarter. Tidal Investments LLC raised its stake in Atlassian by 143.2% during the 3rd quarter. Tidal Investments LLC now owns 12,605 shares of the technology company’s stock worth $2,002,000 after acquiring an additional 7,422 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its position in Atlassian by 59.4% in the third quarter. Wilmington Savings Fund Society FSB now owns 2,901 shares of the technology company’s stock valued at $461,000 after acquiring an additional 1,081 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TEAM shares. Morgan Stanley upped their target price on shares of Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Scotiabank upped their price objective on shares of Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Piper Sandler lifted their target price on shares of Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Oppenheimer upped their price target on Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Raymond James lifted their price objective on Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Ten analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $256.50.

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.