Scott Farquhar Sells 7,948 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 7,948 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $156.59, for a total transaction of $1,244,577.32. Following the sale, the chief executive officer now directly owns 47,688 shares of the company’s stock, valued at $7,467,463.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, June 18th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $153.84, for a total transaction of $1,222,720.32.
• On Friday, June 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $162.61, for a total transaction of $1,292,424.28.
• On Monday, June 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $162.20, for a total transaction of $1,289,165.60.
• On Wednesday, June 5th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $157.52, for a total transaction of $1,298,122.32.
• On Thursday, May 30th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $161.00, for a total transaction of $1,326,801.00.
• On Friday, May 24th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $170.05, for a total transaction of $1,401,382.05.
• On Friday, May 17th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $181.34, for a total transaction of $1,494,422.94.
• On Friday, May 3rd, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $183.51, for a total transaction of $1,512,305.91.
• On Monday, April 29th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $177.14, for a total transaction of $1,459,810.74.
• 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.

Atlassian Trading Up 1.6 %

Shares of TEAM stock opened at $167.45 on Wednesday. The stock’s fifty day moving average is $173.42 and its two-hundred day moving average is $202.10. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market capitalization of $43.59 billion, a P/E ratio of -265.79 and a beta of 0.73. Atlassian Co. has a fifty-two week low of $152.34 and a fifty-two week high of $258.69.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.40) EPS. Research analysts expect that Atlassian Co. will post -0.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TEAM shares. Robert W. Baird cut their price target on shares of Atlassian from $270.00 to $230.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Mizuho cut their price target on shares of Atlassian from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Canaccord Genuity Group dropped their price objective on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Piper Sandler dropped their price objective on shares of Atlassian from $225.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Finally, Wells Fargo & Company dropped their price objective on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.28.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Atlassian by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock worth $3,039,287,000 after acquiring an additional 221,650 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Atlassian by 8.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after acquiring an additional 904,138 shares during the period. WCM Investment Management LLC raised its holdings in shares of Atlassian by 2.7% during the 4th quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock worth $2,325,490,000 after acquiring an additional 249,017 shares during the period. Baillie Gifford & Co. raised its holdings in shares of Atlassian by 20.7% during the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after acquiring an additional 1,511,318 shares during the period. Finally, Brown Advisory Inc. raised its holdings in shares of Atlassian by 7.9% during the 4th quarter. Brown Advisory Inc. now owns 3,473,105 shares of the technology company’s stock worth $826,113,000 after acquiring an additional 255,653 shares during the period. Hedge funds and other institutional investors own 93.03% of the company’s stock.

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.