Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar Sells 7,665 Shares

Atlassian Co. (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,665 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $199.55, for a total transaction of $1,529,550.75. Following the transaction, the director now directly owns 84,315 shares of the company's stock, valued at $16,825,058.25. This represents a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Monday, June 9th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $215.23, for a total transaction of $1,649,737.95.
• On Friday, June 6th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $216.09, for a total transaction of $1,717,483.32.
• On Tuesday, June 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $208.43, for a total transaction of $1,656,601.64.
• On Thursday, May 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $205.73, for a total transaction of $1,635,142.04.
• On Tuesday, May 27th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $210.81, for a total transaction of $1,675,517.88.
• On Friday, May 23rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $206.57, for a total transaction of $1,641,818.36.
• On Monday, May 19th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $214.92, for a total transaction of $1,708,184.16.
• On Friday, May 16th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $221.41, for a total transaction of $1,759,766.68.
• On Wednesday, May 14th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $225.44, for a total transaction of $1,791,797.12.
• On Tuesday, May 6th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $206.80, for a total transaction of $1,643,646.40.

Atlassian Trading Down 1.3%

NASDAQ:TEAM traded down $2.50 on Friday, reaching $196.82. 1,899,963 shares of the company's stock were exchanged, compared to its average volume of 2,120,412. The business has a fifty day moving average of $210.45 and a 200-day moving average of $243.37. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The firm has a market capitalization of $51.67 billion, a price-to-earnings ratio of -146.88 and a beta of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. The firm's quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.89 earnings per share. As a group, analysts expect that Atlassian Co. will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Atlassian

Several large investors have recently modified their holdings of the company. 1248 Management LLC acquired a new stake in shares of Atlassian in the first quarter valued at approximately $413,000. First Hawaiian Bank acquired a new stake in shares of Atlassian during the first quarter worth $292,000. Strs Ohio purchased a new position in Atlassian in the first quarter worth $21,914,000. Diker Management LLC purchased a new position in Atlassian in the first quarter worth $849,000. Finally, Acadian Asset Management LLC raised its position in Atlassian by 68.9% in the first quarter. Acadian Asset Management LLC now owns 951,429 shares of the technology company's stock worth $201,875,000 after acquiring an additional 388,196 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several recent research reports. Cantor Fitzgerald raised shares of Atlassian from a "neutral" rating to an "overweight" rating and lowered their price target for the company from $304.00 to $272.00 in a research report on Wednesday, April 2nd. Macquarie lowered their price target on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Wall Street Zen raised shares of Atlassian from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Truist Financial lowered their price target on shares of Atlassian from $350.00 to $300.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Finally, Stephens lowered their price target on shares of Atlassian from $255.00 to $221.00 and set an "equal weight" rating on the stock in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $282.19.

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.

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