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 that occurred on Tuesday, June 3rd. The stock was sold at an average price of $208.43, for a total value of $1,656,601.64. Following the transaction, the director now owns 23,844 shares of the company's stock, valued at $4,969,804.92. This represents a 25.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 value 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 shares were 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 shares were 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 shares were 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 value of $1,679,412.40.
• On Friday, April 25th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $229.11, for a total value of $1,820,966.28.
• On Monday, April 14th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $202.19, for a total transaction of $1,607,006.12.

Atlassian Trading Down 1.4%

Atlassian stock traded down $3.08 during trading hours on Friday, reaching $215.52. 791,982 shares of the company's stock were exchanged, compared to its average volume of 2,094,858. The firm's 50 day simple moving average is $209.84 and its 200 day simple moving average is $244.92. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $56.58 billion, a PE ratio of -160.60 and a beta of 1.06.

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

Institutional Trading of Atlassian

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEAM. Clean Yield Group raised its position in shares of Atlassian by 372.0% during the first quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after purchasing an additional 93 shares during the period. Murphy & Mullick Capital Management Corp bought a new position in shares of Atlassian in the fourth quarter valued at $27,000. Colonial Trust Co SC grew its holdings in shares of Atlassian by 100.0% during the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock valued at $34,000 after buying an additional 69 shares during the last quarter. Smithfield Trust Co grew its holdings in shares of Atlassian by 90.7% during the first quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after buying an additional 78 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of Atlassian during the fourth quarter worth about $38,000. 94.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of research analyst reports. BMO Capital Markets reduced their target price on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Wells Fargo & Company cut their price target on Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Piper Sandler reiterated an "overweight" rating and set a $300.00 price objective (down from $365.00) on shares of Atlassian in a report on Friday, May 2nd. Raymond James restated an "outperform" rating and issued a $300.00 target price (down previously from $330.00) on shares of Atlassian in a research note on Friday, May 2nd. Finally, Robert W. Baird raised shares of Atlassian from a "neutral" rating to an "outperform" rating and decreased their price target for the stock from $320.00 to $255.00 in a research note on Monday, April 14th. 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, the company currently has a consensus rating of "Moderate Buy" and an average price target of $285.29.

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.