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

Key Points

• Atlassian Corporation PLC Director Scott Farquhar sold 7,665 shares at an average price of $202.05, totaling $1,548,713.25, which decreased his ownership by 2.17% to 344,925 shares.
• The company reported a 14.1% increase in revenue year-over-year, with quarterly revenue of $1.36 billion, exceeding analysts' estimates.
• Analysts have assigned a Moderate Buy rating to Atlassian, with a consensus price target of $274.05, reflecting a mix of ratings from various brokerages.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,665 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $202.05, for a total value of $1,548,713.25. Following the completion of the sale, the director directly owned 344,925 shares in the company, valued at approximately $69,692,096.25. The trade was a 2.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, July 30th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $197.88, for a total value of $1,516,750.20.
• On Friday, July 25th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $202.55, for a total value of $1,552,545.75.
• On Wednesday, July 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $202.78, for a total value of $1,554,308.70.
• On Monday, July 21st, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $194.98, for a total value of $1,494,521.70.
• 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 value of $1,476,585.60.
• On Wednesday, July 9th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $219.98, for a total value of $1,686,146.70.
• On Monday, July 7th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $214.49, for a total value of $1,644,065.85.

Atlassian Price Performance

NASDAQ TEAM traded down $6.46 on Friday, reaching $185.32. The company's stock had a trading volume of 682,728 shares, compared to its average volume of 2,275,935. The firm has a market cap of $48.65 billion, a PE ratio of -111.54 and a beta of 0.94. The business has a 50-day moving average price of $202.78 and a 200 day moving average price of $229.08. Atlassian Corporation PLC has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The company's quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 earnings per share. Sell-side analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Institutional Investors Weigh In On Atlassian

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Atlassian by 3.5% during the first quarter. Vanguard Group Inc. now owns 16,993,537 shares of the technology company's stock worth $3,606,198,000 after acquiring an additional 580,583 shares in the last quarter. Baillie Gifford & Co. increased its position in shares of Atlassian by 7.1% during the first quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company's stock worth $1,845,114,000 after acquiring an additional 573,696 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Atlassian by 21.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,440,813 shares of the technology company's stock worth $730,175,000 after acquiring an additional 616,071 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Atlassian by 24.1% during the first quarter. Voya Investment Management LLC now owns 2,695,889 shares of the technology company's stock worth $571,894,000 after acquiring an additional 523,035 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Atlassian by 265.9% during the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after acquiring an additional 1,777,179 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TEAM. Oppenheimer lowered their price objective on shares of Atlassian from $300.00 to $275.00 and set an "outperform" rating on the stock in a research note on Monday, July 21st. KeyCorp lowered their price objective on shares of Atlassian from $275.00 to $250.00 and set an "overweight" rating on the stock in a research report on Thursday, July 17th. Morgan Stanley lowered their price objective on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Capital One Financial lowered shares of Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 target price for the company. in a research note on Wednesday, July 16th. Finally, Robert W. Baird raised shares of Atlassian from a "neutral" rating to an "outperform" rating and decreased their target price for the company from $320.00 to $255.00 in a research note on Monday, April 14th. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $274.05.

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.