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

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $143.54, for a total transaction of $1,140,855.92. Following the completion of the transaction, the chief executive officer now directly owns 309,972 shares of the company’s stock, valued at $44,493,380.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Monday, July 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $178.96, for a total transaction of $1,422,374.08.
• On Friday, July 19th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $175.91, for a total transaction of $1,398,132.68.
• On Friday, July 12th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $181.21, for a total transaction of $1,440,257.08.
• On Friday, July 5th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $186.48, for a total transaction of $1,482,143.04.
• On Wednesday, July 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $182.62, for a total transaction of $1,451,463.76.
• On Monday, July 1st, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $177.25, for a total transaction of $1,408,783.00.
• On Friday, June 28th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $176.05, for a total transaction of $1,399,245.40.
• On Thursday, June 20th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $156.59, for a total transaction of $1,244,577.32.
• 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.

Atlassian Trading Down 2.1 %

Shares of TEAM stock traded down $3.00 during trading hours on Tuesday, reaching $139.85. 2,626,778 shares of the stock traded hands, compared to its average volume of 1,767,875. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The business has a fifty day moving average price of $169.60 and a 200 day moving average price of $191.11. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $36.40 billion, a PE ratio of -224.19 and a beta of 0.74.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 18.13%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the previous year, the business earned ($0.21) earnings per share. The firm’s revenue was up 20.5% compared to the same quarter last year. On average, equities research analysts forecast that Atlassian Co. will post -0.23 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TEAM. Mizuho reduced their price target on shares of Atlassian from $225.00 to $220.00 and set an “outperform” rating for the company in a research note on Tuesday, July 16th. Baird R W lowered shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday. Citigroup reduced their price target on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a research note on Friday, April 12th. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and upped their price target for the stock from $200.00 to $230.00 in a research note on Friday. Finally, Barclays reduced their price target on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research note on Monday. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $217.69.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TEAM. Hollencrest Capital Management increased its stake in Atlassian by 383.9% in the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after buying an additional 119 shares during the period. Trust Co. of Vermont grew its position in Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock worth $32,000 after acquiring an additional 174 shares in the last quarter. Rothschild Investment LLC bought a new position in Atlassian in the 2nd quarter worth $36,000. Edmond DE Rothschild Holding S.A. bought a new position in Atlassian in the 1st quarter worth approximately $40,000. Finally, Crewe Advisors LLC bought a new stake in shares of Atlassian in the first quarter valued at about $43,000. Institutional investors and hedge funds 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.