Atlassian Corporation PLC (NASDAQ:TEAM) Director Sells $1,530,777.15 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,665 shares of the business's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $199.71, for a total transaction of $1,530,777.15. Following the transaction, the director now directly owns 22,995 shares in the company, valued at $4,592,331.45. This trade represents a 25.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• 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 transaction of $1,476,892.20.
• On Friday, June 20th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were 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 value of $1,505,712.60.
• On Monday, June 16th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $200.68, for a total value of $1,538,212.20.
• On Thursday, June 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $199.55, for a total value of $1,529,550.75.
• On Monday, June 9th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $215.23, for a total value of $1,649,737.95.
• On Friday, June 6th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $216.09, for a total value of $1,717,483.32.
• On Tuesday, June 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $208.43, for a total transaction of $1,656,601.64.
• On Thursday, May 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $205.73, for a total transaction of $1,635,142.04.
• On Tuesday, May 27th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $210.81, for a total transaction of $1,675,517.88.

Atlassian Trading Up 0.1%

NASDAQ:TEAM traded up $0.14 during mid-day trading on Thursday, reaching $198.50. 1,974,388 shares of the company were exchanged, compared to its average volume of 2,145,952. Atlassian Corporation PLC has a 12 month low of $135.29 and a 12 month high of $326.00. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The company has a fifty day moving average of $209.89 and a 200 day moving average of $238.82.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the company earned $0.89 EPS. The business's quarterly revenue was up 14.1% compared to the same quarter last year. As a group, equities analysts predict that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Atlassian by 3.5% during the first quarter. Vanguard Group Inc. now owns 16,993,537 shares of the technology company's stock worth $3,606,198,000 after purchasing an additional 580,583 shares during the period. Baillie Gifford & Co. raised its holdings in Atlassian by 7.1% during the 1st quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company's stock worth $1,845,114,000 after buying an additional 573,696 shares during the period. JPMorgan Chase & Co. lifted its stake in Atlassian by 72.9% in 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Atlassian by 21.8% in 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 in the last quarter. Finally, Voya Investment Management LLC boosted its holdings in shares of Atlassian by 24.1% in 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 period. 94.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TEAM. Jefferies Financial Group lowered their target price on shares of Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Robert W. Baird upgraded Atlassian from a "neutral" rating to an "outperform" rating and lowered their price objective for the company from $320.00 to $255.00 in a research note on Monday, April 14th. Morgan Stanley dropped their target price on Atlassian from $370.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Truist Financial decreased their price target on Atlassian from $350.00 to $300.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Finally, Piper Sandler reiterated an "overweight" rating and issued a $300.00 price target (down from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $282.19.

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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