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 $163.26, totaling approximately $1.25 million, reducing his ownership by 3.03%.
• Following a recent earnings report, Atlassian reported $0.98 earnings per share, exceeding estimates and showing a 22.3% increase in quarterly revenue year-over-year.
• Atlassian's stock has seen significant fluctuation, with a 1-year high of $326.00 and a current trading price around $167.00.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,665 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $163.26, for a total value of $1,251,387.90. Following the sale, the director owned 245,280 shares in the company, valued at $40,044,412.80. This trade represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, August 11th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.51, for a total value of $1,253,304.15.
• On Friday, August 8th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $171.03, for a total value of $1,310,944.95.
• 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 value 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 value of $1,421,320.95.
• On Friday, August 1st, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was 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 stock was 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 stock was 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 value of $1,494,521.70.

Atlassian Stock Performance

NASDAQ:TEAM traded up $2.61 during mid-day trading on Friday, hitting $167.00. The company's stock had a trading volume of 2,742,190 shares, compared to its average volume of 2,409,158. Atlassian Corporation PLC has a 1 year low of $145.88 and a 1 year high of $326.00. 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 stock has a market cap of $43.84 billion, a price-to-earnings ratio of -168.69 and a beta of 0.96. The business's fifty day moving average is $195.39 and its two-hundred day moving average is $223.24.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.15. The business 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 business's quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.66 earnings per share. Analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlassian

Several hedge funds have recently added to or reduced their stakes in the business. Federated Hermes Inc. raised its holdings in shares of Atlassian by 99.8% in the 4th quarter. Federated Hermes Inc. now owns 1,998 shares of the technology company's stock valued at $486,000 after acquiring an additional 998 shares in the last quarter. Townsquare Capital LLC raised its position in Atlassian by 53.4% during the fourth quarter. Townsquare Capital LLC now owns 2,052 shares of the technology company's stock valued at $499,000 after purchasing an additional 714 shares during the period. Summit Investment Advisors Inc. grew its stake in Atlassian by 6.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,137 shares of the technology company's stock worth $1,250,000 after purchasing an additional 322 shares in the last quarter. Mariner LLC lifted its holdings in shares of Atlassian by 19.4% during the 4th quarter. Mariner LLC now owns 10,036 shares of the technology company's stock valued at $2,443,000 after purchasing an additional 1,634 shares during the last quarter. Finally, CreativeOne Wealth LLC acquired a new stake in Atlassian during the 4th quarter worth about $221,000. Institutional investors and hedge funds own 94.45% of the company's stock.

Wall Street Analyst Weigh In

TEAM has been the topic of a number of research analyst reports. Piper Sandler reiterated an "overweight" rating and set a $300.00 target price (down from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Capital One Financial cut Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price target on the stock. in a research report on Wednesday, July 16th. UBS Group reissued a "hold" rating on shares of Atlassian in a research note on Monday, July 7th. Canaccord Genuity Group reduced their price target on Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Wells Fargo & Company cut their price objective on Atlassian from $330.00 to $315.00 and set an "overweight" 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 given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $259.76.

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.

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