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

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $192.06, for a total value of $1,472,139.90. Following the completion of the transaction, the director directly owned 421,575 shares in the company, valued at $80,967,694.50. This represents a 1.79% decrease in their ownership of the stock. 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 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 stock was 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 stock was sold at an average price of $214.49, for a total value of $1,644,065.85.
• On Thursday, July 3rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $213.97, for a total transaction of $1,640,080.05.
• On Monday, June 30th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $203.16, for a total transaction of $1,557,221.40.
• On Friday, June 27th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $203.66, for a total transaction of $1,561,053.90.
• On Wednesday, June 25th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $199.71, for a total transaction of $1,530,777.15.
• On Monday, June 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.68, for a total value of $1,476,892.20.
• On Friday, June 20th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.44, for a total transaction of $1,475,052.60.
• On Wednesday, June 18th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $196.44, for a total transaction of $1,505,712.60.

Atlassian Trading Up 0.6%

TEAM stock traded up $1.04 during midday trading on Wednesday, hitting $188.73. The company had a trading volume of 905,438 shares, compared to its average volume of 2,185,574. 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 Corporation PLC has a 52 week low of $135.29 and a 52 week high of $326.00. The stock's 50 day moving average price is $207.24 and its 200 day moving average price is $232.97. The stock has a market cap of $49.54 billion, a price-to-earnings ratio of -113.95 and a beta of 0.94.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. The business's revenue was up 14.1% on a year-over-year basis. As a group, equities research analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlassian

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Atlassian by 3.5% in 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 during the last quarter. Baillie Gifford & Co. boosted 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 valued at $1,845,114,000 after buying an additional 573,696 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock valued at $1,042,737,000 after buying an additional 1,806,042 shares during the last quarter. Massachusetts Financial Services Co. MA boosted 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 valued at $730,175,000 after buying an additional 616,071 shares during the last quarter. Finally, Voya Investment Management LLC boosted 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 valued at $571,894,000 after buying an additional 523,035 shares during the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TEAM has been the subject of a number of analyst reports. Raymond James Financial reiterated an "outperform" rating and issued a $300.00 target price (down from $330.00) on shares of Atlassian in a research note on Friday, May 2nd. Macquarie reduced their target price on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Piper Sandler reissued an "overweight" rating and issued a $300.00 price target (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Robert W. Baird raised shares of Atlassian from a "neutral" rating to an "outperform" rating and dropped their price target for the company from $320.00 to $255.00 in a research report on Monday, April 14th. Finally, Jefferies Financial Group dropped their price target on shares of Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Five equities 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $281.00.

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.