Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar Sells 7,665 Shares

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,665 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $200.68, for a total transaction of $1,538,212.20. Following the transaction, the director now directly owns 68,985 shares of the company's stock, valued at $13,843,909.80. This represents a 10.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Thursday, June 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $199.55, for a total value of $1,529,550.75.
• On Monday, June 9th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $215.23, for a total value of $1,649,737.95.
• On Friday, June 6th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $216.09, for a total value of $1,717,483.32.
• 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 value 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 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 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 shares were sold at an average price of $225.44, for a total transaction of $1,791,797.12.

Atlassian Stock Performance

Shares of TEAM traded down $2.12 during midday trading on Tuesday, hitting $198.20. 1,806,044 shares of the company traded hands, compared to its average volume of 2,123,185. The firm has a 50 day moving average of $210.81 and a 200-day moving average of $241.89. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. Atlassian Corporation PLC has a 52 week low of $135.29 and a 52 week high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. The firm's revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 earnings per share. As a group, sell-side analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Institutional Trading of Atlassian

Several hedge funds have recently modified their holdings of TEAM. Murphy & Mullick Capital Management Corp purchased a new stake in Atlassian during the fourth quarter valued at $27,000. Clean Yield Group raised its position in shares of Atlassian by 372.0% during the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after buying an additional 93 shares in the last quarter. Colonial Trust Co SC raised its position in shares of Atlassian by 100.0% during the 4th 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 in the last quarter. Summit Securities Group LLC bought a new position in shares of Atlassian in the 4th quarter valued at about $38,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in Atlassian in the fourth quarter worth about $39,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on TEAM shares. BMO Capital Markets decreased their target price on Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Robert W. Baird raised Atlassian from a "neutral" rating to an "outperform" rating and decreased their price objective for the stock from $320.00 to $255.00 in a research note on Monday, April 14th. Baird R W raised Atlassian from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Jefferies Financial Group cut their price objective on Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Finally, Wall Street Zen cut shares of Atlassian from a "buy" rating to a "hold" rating in a research note on Saturday. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $282.19.

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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