Atlassian Co. (NASDAQ:TEAM) Director Sells $1,717,483.32 in Stock

Atlassian Co. (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $216.09, for a total value of $1,717,483.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• 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 value 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 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 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 stock was 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 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 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 stock was 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 stock was sold at an average price of $229.11, for a total value of $1,820,966.28.

Atlassian Price Performance

TEAM traded down $4.09 during trading on Friday, reaching $214.51. The company's stock had a trading volume of 1,579,451 shares, compared to its average volume of 2,097,879. The company has a market cap of $56.31 billion, a price-to-earnings ratio of -160.08 and a beta of 1.06. The firm has a fifty day simple moving average of $209.84 and a two-hundred day simple moving average of $244.92. Atlassian Co. has a 1 year low of $135.29 and a 1 year 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.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data 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. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the firm posted $0.89 earnings per share. Atlassian's quarterly revenue was up 14.1% on a year-over-year basis. As a group, analysts anticipate that Atlassian Co. will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Piper Sandler restated an "overweight" rating and issued a $300.00 price target (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. KeyCorp reduced 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. UBS Group lowered their price target on shares of Atlassian from $230.00 to $215.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Morgan Stanley dropped their price target on Atlassian from $370.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, BMO Capital Markets decreased their price objective on Atlassian from $295.00 to $245.00 and set an "outperform" 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $285.29.

Hedge Funds Weigh In On Atlassian

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in Atlassian by 5.6% during the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company's stock worth $393,588,000 after buying an additional 131,621 shares during the period. Caprock Group LLC acquired a new position in shares of Atlassian in the 4th quarter worth approximately $227,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Atlassian by 137.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,803 shares of the technology company's stock worth $16,347,000 after acquiring an additional 38,079 shares during the last quarter. Choreo LLC boosted its position in shares of Atlassian by 7.7% during the 4th quarter. Choreo LLC now owns 10,207 shares of the technology company's stock worth $2,504,000 after purchasing an additional 734 shares during the period. Finally, Bleakley Financial Group LLC increased its holdings in Atlassian by 37.8% in the 4th quarter. Bleakley Financial Group LLC now owns 3,193 shares of the technology company's stock valued at $777,000 after purchasing an additional 876 shares during the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

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.

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