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

Atlassian Co. (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,948 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $210.81, for a total transaction of $1,675,517.88. Following the transaction, the director now owns 63,584 shares in the company, valued at approximately $13,404,143.04. This trade represents a 11.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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 transaction of $1,635,142.04.
• 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.
• 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 shares were sold at an average price of $229.11, for a total transaction of $1,820,966.28.
• On Monday, April 14th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $202.19, for a total transaction of $1,607,006.12.
• On Monday, April 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $185.61, for a total transaction of $1,475,228.28.

Atlassian Price Performance

Shares of Atlassian stock traded up $2.38 on Friday, hitting $206.31. The company's stock had a trading volume of 3,481,076 shares, compared to its average volume of 2,099,592. Atlassian Co. has a 52-week low of $135.29 and a 52-week 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 fifty day moving average price of $211.17 and a 200-day moving average price of $246.12. The company has a market capitalization of $54.16 billion, a P/E ratio of -153.96 and a beta of 1.06.

Atlassian (NASDAQ:TEAM - Get Free Report) last released 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. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period in the previous year, the firm earned $0.89 EPS. The business's revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities research analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Corebridge Financial Inc. raised its stake in Atlassian by 0.3% in the 4th quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company's stock valued at $2,555,000 after purchasing an additional 35 shares during the last quarter. GeoWealth Management LLC raised its stake in Atlassian by 26.8% in the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock valued at $44,000 after purchasing an additional 38 shares during the last quarter. Assetmark Inc. raised its stake in Atlassian by 30.6% in the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after purchasing an additional 41 shares during the last quarter. Allworth Financial LP raised its stake in 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. Finally, State of Wyoming raised its stake in Atlassian by 20.3% in the 1st quarter. State of Wyoming now owns 278 shares of the technology company's stock valued at $59,000 after purchasing an additional 47 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TEAM. Stephens lowered their price objective 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. Wall Street Zen upgraded shares of Atlassian from a "hold" rating to a "buy" rating in a research report on Friday. Macquarie decreased their target price 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. Piper Sandler restated an "overweight" rating and set a $300.00 target price (down from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Finally, Truist Financial decreased their target price 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. Four research 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 data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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.