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

Key Points

• Scott Farquhar, Director of Atlassian Corporation PLC, sold 7,665 shares at an average price of $184.43, totaling approximately $1.41 million, reducing his ownership in the company by 2.38%.
• Atlassian's stock saw a modest 1.5% increase, trading at $185.69, with a market cap of $48.75 billion and a twelve-month high of $326.00.
• Analysts maintain a positive outlook with an average price target of $274.05, despite several recent adjustments to price targets reflecting cautious sentiment.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,665 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $184.43, for a total transaction of $1,413,655.95. Following the completion of the transaction, the director directly owned 314,265 shares in the company, valued at $57,959,893.95. This trade represents a 2.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Wednesday, July 30th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $197.88, for a total transaction of $1,516,750.20.
• On Monday, July 28th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $202.05, for a total transaction of $1,548,713.25.
• On Friday, July 25th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $202.55, for a total transaction 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 transaction of $1,554,308.70.
• On Monday, July 21st, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $194.98, for a total transaction 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 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.

Atlassian Stock Up 1.5%

TEAM traded up $2.73 during trading on Monday, reaching $185.69. 1,527,237 shares of the stock were exchanged, compared to its average volume of 2,279,771. The stock has a market cap of $48.75 billion, a P/E ratio of -111.86 and a beta of 0.96. 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 price is $202.31 and its two-hundred day moving average price is $228.31. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. 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 company earned $0.89 earnings per share. Equities analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several recent analyst reports. Raymond James Financial reissued an "outperform" rating and set a $300.00 price objective (down previously from $330.00) on shares of Atlassian in a research note on Friday, May 2nd. Wells Fargo & Company cut their price target on shares of Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Oppenheimer cut their price target 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. Macquarie cut their price target on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Finally, Robert W. Baird raised shares of Atlassian from a "neutral" rating to an "outperform" rating and cut their price target for the company from $320.00 to $255.00 in a research note on Monday, April 14th. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $274.05.

Hedge Funds Weigh In On Atlassian

Institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in shares of 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 purchasing an additional 101 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Atlassian by 42.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,240 shares of the technology company's stock valued at $900,000 after acquiring an additional 1,259 shares during the period. Principal Financial Group Inc. boosted its position in shares of Atlassian by 350.1% in the first quarter. Principal Financial Group Inc. now owns 51,900 shares of the technology company's stock valued at $11,014,000 after acquiring an additional 40,369 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Atlassian by 47,387.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,799 shares of the technology company's stock valued at $822,000 after acquiring an additional 3,791 shares during the period. Finally, Amalgamated Bank boosted its position in shares of Atlassian by 6.1% in the first quarter. Amalgamated Bank now owns 11,360 shares of the technology company's stock valued at $2,411,000 after acquiring an additional 650 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Atlassian Company Profile

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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