Scott Farquhar Sells 8,241 Shares of Atlassian Co. (NASDAQ:TEAM) 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 shares were 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 directly owns 382,932 shares in the company, valued at $74,039,902.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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 transaction of $1,645,810.11.
• On Friday, April 12th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $207.36, for a total value 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 stock was 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 shares were 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 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 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 shares were sold at an average price of $218.32, for a total value of $1,799,175.12.

Atlassian Price Performance

Atlassian stock opened at $198.41 on Friday. Atlassian Co. has a 52 week low of $128.02 and a 52 week high of $258.69. The company’s 50 day moving average price is $200.55 and its two-hundred day moving average price is $206.69. The stock has a market cap of $51.47 billion, a P/E ratio of -133.16 and a beta of 0.63. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.04.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. On average, equities analysts predict that Atlassian Co. will post -0.4 earnings per share for the current year.

Hedge Funds Weigh In On Atlassian

Hedge funds and other institutional investors have recently made changes to their positions in the stock. National Bank of Canada FI boosted its stake in Atlassian by 15.0% in the third quarter. National Bank of Canada FI now owns 1,057 shares of the technology company’s stock valued at $209,000 after acquiring an additional 138 shares during the last quarter. CWM LLC lifted its stake in Atlassian by 61.3% in the third quarter. CWM LLC now owns 2,028 shares of the technology company’s stock valued at $409,000 after purchasing an additional 771 shares during the last quarter. SG Americas Securities LLC grew its holdings in Atlassian by 40.3% during the third quarter. SG Americas Securities LLC now owns 8,517 shares of the technology company’s stock valued at $1,716,000 after purchasing an additional 2,448 shares during the period. State of Alaska Department of Revenue increased its position in Atlassian by 0.7% in the third quarter. State of Alaska Department of Revenue now owns 42,190 shares of the technology company’s stock worth $8,501,000 after buying an additional 310 shares during the last quarter. Finally, Founders Financial Securities LLC raised its stake in shares of Atlassian by 8.6% in the third quarter. Founders Financial Securities LLC now owns 1,754 shares of the technology company’s stock valued at $353,000 after buying an additional 139 shares during the period. 93.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TEAM has been the topic of several recent research reports. Mizuho cut their price target on Atlassian from $265.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, April 15th. UBS Group reduced their price target on shares of Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research report on Friday, February 2nd. Barclays upgraded shares of Atlassian from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $235.00 to $275.00 in a report on Thursday, April 11th. The Goldman Sachs Group lifted their price objective on shares of Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Finally, StockNews.com lowered shares of Atlassian from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $224.25.

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.