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 business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $192.68, for a total value of $1,476,892.20. Following the completion of the sale, the director now owns 38,325 shares of the company's stock, valued at $7,384,461. This trade represents a 16.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, June 20th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $192.44, for a total transaction of $1,475,052.60.
• On Wednesday, June 18th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $196.44, for a total transaction of $1,505,712.60.
• On Monday, June 16th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $200.68, for a total value of $1,538,212.20.
• On Thursday, June 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $199.55, for a total transaction of $1,529,550.75.
• On Monday, June 9th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were 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 transaction of $1,717,483.32.
• 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 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 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 shares were sold at an average price of $206.57, for a total value of $1,641,818.36.

Atlassian Stock Performance

TEAM traded up $7.93 during trading hours on Tuesday, hitting $200.67. The company's stock had a trading volume of 2,170,996 shares, compared to its average volume of 2,142,210. The company has a 50-day simple moving average of $210.16 and a 200 day simple moving average of $239.37. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $52.68 billion, a PE ratio of -120.89 and a beta of 0.96. Atlassian Corporation PLC has a fifty-two week low of $135.29 and a fifty-two week high of $326.00.

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. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the prior year, the business posted $0.89 earnings per share. The company's revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, sell-side analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Hedge Funds Weigh In On Atlassian

Several large investors have recently bought and sold shares of the stock. Murphy & Mullick Capital Management Corp bought a new position in shares of Atlassian in the fourth quarter valued at approximately $27,000. Clean Yield Group raised its holdings in 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 in the last quarter. Colonial Trust Co SC lifted its position in Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock worth $34,000 after purchasing an additional 69 shares during the period. Summit Securities Group LLC bought a new position in Atlassian during the 4th quarter valued at $38,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Atlassian during the 4th quarter valued at $39,000. Institutional investors and hedge funds own 94.45% of the company's stock.

Wall Street Analysts Forecast Growth

TEAM has been the subject of a number of research reports. Barclays reduced their price target on shares of Atlassian from $350.00 to $260.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Piper Sandler reaffirmed an "overweight" rating and set a $300.00 price target (down from $365.00) on shares of Atlassian in a research note on Friday, May 2nd. BMO Capital Markets dropped their target price on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Wall Street Zen raised shares of Atlassian from a "hold" rating to a "buy" rating in a research note on Sunday. Finally, Canaccord Genuity Group decreased their target price on Atlassian from $300.00 to $255.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Four equities 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 stock. According to data from MarketBeat.com, Atlassian presently 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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