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

Key Points

• Atlassian Corporation PLC Director Scott Farquhar sold 7,665 shares at an average price of $171.03, totaling approximately $1.31 million, decreasing his position by 2.70% to 275,940 shares.
• Atlassian stock experienced a decline of 5.2%, trading down to $159.28, and has a market capitalization of $41.81 billion as of the last report.
• During its latest earnings report, Atlassian posted $1.38 billion in revenue, surpassing consensus estimates, with a 22.3% year-over-year increase.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $171.03, for a total transaction of $1,310,944.95. Following the completion of the transaction, the director owned 275,940 shares of the company's stock, valued at $47,194,018.20. The trade was a 2.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, August 6th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $185.81, for a total transaction of $1,424,233.65.
• On Monday, August 4th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $185.43, for a total transaction 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 transaction of $1,413,655.95.
• 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 shares were 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 shares were 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 shares were sold at an average price of $189.37, for a total transaction of $1,451,521.05.

Atlassian Trading Down 5.2%

Atlassian stock traded down $8.78 during mid-day trading on Monday, reaching $159.28. 5,297,168 shares of the company traded hands, compared to its average volume of 2,370,703. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The firm's 50 day moving average price is $198.47 and its 200 day moving average price is $224.83. The firm has a market capitalization of $41.81 billion, a price-to-earnings ratio of -160.89 and a beta of 0.96. Atlassian Corporation PLC has a 52-week low of $139.23 and a 52-week high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.15. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.36 billion. Atlassian had a negative net margin of 4.92% and a negative return on equity of 15.19%. The company's revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 EPS. On average, analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Atlassian from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. Capital One Financial lowered shares of Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price objective for the company. in a report on Wednesday, July 16th. Canaccord Genuity Group lowered their price objective on shares of Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a report on Friday. Morgan Stanley lowered their price objective on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Oppenheimer lowered their price objective on shares of Atlassian from $300.00 to $275.00 and set an "outperform" rating for the company in a report on Monday, July 21st. Five equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Atlassian has an average rating of "Moderate Buy" and a consensus price target of $259.76.

Institutional Trading of Atlassian

Hedge funds and other institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC grew its position in shares of Atlassian by 37.7% in the 1st quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company's stock worth $80,000 after buying an additional 101 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in Atlassian by 42.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,240 shares of the technology company's stock valued at $900,000 after purchasing an additional 1,259 shares in the last quarter. Principal Financial Group Inc. increased its stake in Atlassian by 350.1% during the 1st quarter. Principal Financial Group Inc. now owns 51,900 shares of the technology company's stock valued at $11,014,000 after purchasing an additional 40,369 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in 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 valued at $822,000 after purchasing an additional 3,791 shares in the last quarter. Finally, Amalgamated Bank increased its stake in Atlassian by 6.1% during the 1st quarter. Amalgamated Bank now owns 11,360 shares of the technology company's stock valued at $2,411,000 after purchasing an additional 650 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.