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

Key Points

• Atlassian Corporation PLC Director Scott Farquhar sold 7,665 shares of the company's stock for approximately $1.42 million, resulting in a 2.56% decrease in his position.
• The company's stock price has seen significant fluctuations, currently priced at $171.00, down from a 12-month high of $326.00.
• Institutional investors hold a substantial 94.45% stake in Atlassian, with several modifying their holdings significantly in recent quarters.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $185.81, for a total transaction of $1,424,233.65. Following the transaction, the director owned 291,270 shares of the company's stock, valued at approximately $54,120,878.70. The trade was a 2.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Monday, August 4th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $185.43, for a total value of $1,421,320.95.
• On Friday, August 1st, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $184.43, for a total value of $1,413,655.95.
• 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 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 value 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 value 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.

Atlassian Price Performance

Atlassian stock traded down $14.50 during midday trading on Thursday, hitting $171.00. The company's stock had a trading volume of 6,725,109 shares, compared to its average volume of 2,045,737. The stock's 50-day moving average price is $200.16 and its 200-day moving average price is $226.70. The company has a market capitalization of $44.89 billion, a PE ratio of -103.01 and a beta of 0.96. 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 12 month low of $136.84 and a 12 month high of $326.00.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Vise Technologies Inc. acquired a new position in Atlassian in the 2nd quarter worth approximately $670,000. Allworth Financial LP boosted its position in shares of Atlassian by 68.7% in the second quarter. Allworth Financial LP now owns 2,600 shares of the technology company's stock worth $528,000 after buying an additional 1,059 shares during the period. Illinois Municipal Retirement Fund grew its holdings in shares of Atlassian by 8.1% during the second quarter. Illinois Municipal Retirement Fund now owns 76,137 shares of the technology company's stock valued at $15,463,000 after buying an additional 5,696 shares in the last quarter. ProShare Advisors LLC lifted its stake in Atlassian by 4.1% in the 2nd quarter. ProShare Advisors LLC now owns 225,133 shares of the technology company's stock worth $45,722,000 after acquiring an additional 8,868 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Atlassian by 3,105.6% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 140,758 shares of the technology company's stock worth $28,587,000 after acquiring an additional 136,367 shares during the period. Institutional investors own 94.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on TEAM shares. Mizuho dropped their price objective on Atlassian from $290.00 to $265.00 and set an "outperform" rating for the company in a report on Wednesday, July 16th. Capital One Financial lowered Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price objective on the stock. in a research note on Wednesday, July 16th. Robert W. Baird raised shares of Atlassian from a "neutral" rating to an "outperform" rating and dropped their target price for the stock from $320.00 to $255.00 in a research report on Monday, April 14th. Wells Fargo & Company reduced their price target on shares of Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Finally, KeyCorp reduced their target price on shares of Atlassian from $275.00 to $250.00 and set an "overweight" rating on the stock in a report on Thursday, July 17th. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Atlassian presently has an average rating of "Moderate Buy" and a consensus price target of $274.05.

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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