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 company's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $194.98, for a total transaction of $1,494,521.70. Following the sale, the director directly owned 383,250 shares in the company, valued at approximately $74,726,085. The trade was a 1.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, July 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $202.78, for a total transaction of $1,554,308.70.
• On Friday, July 18th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.82, for a total transaction of $1,477,965.30.
• On Wednesday, July 16th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $189.37, for a total transaction of $1,451,521.05.
• On Monday, July 14th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.06, for a total transaction of $1,472,139.90.
• On Friday, July 11th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.64, for a total transaction of $1,476,585.60.
• On Wednesday, July 9th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $219.98, for a total transaction of $1,686,146.70.
• On Monday, July 7th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $214.49, for a total transaction of $1,644,065.85.
• On Thursday, July 3rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $213.97, for a total transaction of $1,640,080.05.
• On Monday, June 30th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $203.16, for a total transaction of $1,557,221.40.
• On Friday, June 27th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $203.66, for a total transaction of $1,561,053.90.

Atlassian Stock Performance

Shares of TEAM stock traded up $3.08 during trading hours on Friday, hitting $202.91. The stock had a trading volume of 600,059 shares, compared to its average volume of 2,310,939. The firm has a market capitalization of $53.26 billion, a PE ratio of -122.24 and a beta of 0.94. Atlassian Corporation PLC has a twelve month low of $135.29 and a twelve month high of $326.00. The stock's 50 day moving average is $204.25 and its 200 day moving average is $230.61. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share 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 firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the company earned $0.89 earnings per share. The company's revenue for the quarter was up 14.1% on a year-over-year basis. As a group, research analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TEAM has been the subject of several research analyst reports. Truist Financial decreased their price objective on shares of Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Mizuho decreased their price objective on shares of Atlassian from $290.00 to $265.00 and set an "outperform" rating for the company in a research report on Wednesday, July 16th. Morgan Stanley decreased their price objective on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Canaccord Genuity Group decreased their price objective on shares of Atlassian from $300.00 to $255.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Finally, Macquarie reduced their price target on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Five investment 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 company. According to data from MarketBeat, Atlassian has an average rating of "Moderate Buy" and a consensus target price of $274.05.

Institutional Investors Weigh In On Atlassian

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC lifted its holdings in Atlassian by 37.7% in the first quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company's stock valued at $80,000 after acquiring an additional 101 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Atlassian by 42.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,240 shares of the technology company's stock worth $900,000 after buying an additional 1,259 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Atlassian by 350.1% during the 1st quarter. Principal Financial Group Inc. now owns 51,900 shares of the technology company's stock worth $11,014,000 after buying an additional 40,369 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Atlassian by 47,387.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,799 shares of the technology company's stock worth $822,000 after buying an additional 3,791 shares during the last quarter. Finally, Amalgamated Bank raised its stake in shares of Atlassian by 6.1% during the 1st quarter. Amalgamated Bank now owns 11,360 shares of the technology company's stock worth $2,411,000 after buying an additional 650 shares during the last quarter. 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.