Atlassian Co. (NASDAQ:TEAM) Director Sells $1,656,601.64 in Stock

Atlassian Co. (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $208.43, for a total transaction of $1,656,601.64. Following the completion of the transaction, the director now directly owns 23,844 shares in the company, valued at $4,969,804.92. The trade was a 25.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, June 6th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $216.09, for a total transaction of $1,717,483.32.
• On Thursday, May 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were 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 shares were sold at an average price of $206.57, for a total value of $1,641,818.36.
• On Monday, May 19th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $214.92, for a total value of $1,708,184.16.
• On Friday, May 16th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $221.41, for a total value 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 value 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 value of $1,643,646.40.
• On Friday, May 2nd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $211.30, for a total transaction of $1,679,412.40.
• On Friday, April 25th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $229.11, for a total transaction of $1,820,966.28.

Atlassian Price Performance

TEAM traded down $4.09 during midday trading on Friday, reaching $214.51. 1,579,559 shares of the company's stock were exchanged, compared to its average volume of 2,103,656. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $326.00. The business's 50-day moving average price is $209.80 and its 200 day moving average price is $244.62. The stock has a market capitalization of $56.31 billion, a PE ratio of -160.08 and a beta of 0.96.

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

Institutional Investors Weigh In On Atlassian

Several hedge funds have recently modified their holdings of TEAM. Allworth Financial LP boosted its holdings in shares of Atlassian by 3.1% in the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock valued at $404,000 after purchasing an additional 47 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Atlassian by 93.4% during the 4th quarter. LPL Financial LLC now owns 51,534 shares of the technology company's stock worth $12,542,000 after buying an additional 24,891 shares during the last quarter. Blue Trust Inc. raised its position in shares of Atlassian by 20.9% in the 4th quarter. Blue Trust Inc. now owns 811 shares of the technology company's stock worth $197,000 after buying an additional 140 shares during the period. Freestone Grove Partners LP acquired a new position in Atlassian in the fourth quarter valued at $10,805,000. Finally, Shay Capital LLC acquired a new position in Atlassian in the fourth quarter valued at $243,000. 94.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. KeyCorp lowered their target price on shares of Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Baird R W upgraded Atlassian from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Canaccord Genuity Group reduced their price target on Atlassian from $300.00 to $255.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Morgan Stanley decreased their price target on Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Wall Street Zen upgraded Atlassian from a "hold" rating to a "buy" rating in a research report on Friday, May 30th. Four 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 company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $285.29.

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.