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

Atlassian Co. (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $216.09, for a total transaction of $1,717,483.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Tuesday, June 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were 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 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 shares were 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 transaction 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 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 transaction 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 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.

Atlassian Trading Up 0.2%

NASDAQ TEAM traded up $0.48 during trading hours on Monday, reaching $214.99. The company's stock had a trading volume of 1,594,967 shares, compared to its average volume of 2,101,622. The firm has a fifty day simple moving average of $209.62 and a 200-day simple moving average of $244.30. The stock has a market cap of $56.44 billion, a P/E ratio of -160.44 and a beta of 0.96. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. 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 (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates 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 revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.89 EPS. Equities analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on TEAM shares. UBS Group cut their price objective on shares of Atlassian from $230.00 to $215.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Truist Financial cut their price objective 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. Cantor Fitzgerald raised shares of Atlassian from a "neutral" rating to an "overweight" rating and dropped their price target for the stock from $304.00 to $272.00 in a research report on Wednesday, April 2nd. Barclays dropped their price target on shares of Atlassian from $350.00 to $260.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Finally, BMO Capital Markets dropped their price target on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $285.29.

Institutional Trading of Atlassian

Hedge funds have recently bought and sold shares of the business. 1248 Management LLC purchased a new position in Atlassian during the 1st quarter worth $413,000. First Hawaiian Bank purchased a new position in Atlassian during the 1st quarter worth $292,000. Strs Ohio bought a new position in Atlassian during the first quarter valued at about $21,914,000. Diker Management LLC bought a new stake in Atlassian in the first quarter worth about $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 during the period. Institutional investors and hedge funds own 94.45% 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.