Atlassian Corporation PLC (NASDAQ:TEAM) Director Sells $1,552,545.75 in Stock

Key Points

• Atlassian Corporation PLC Director Scott Farquhar sold 7,665 shares of the company's stock for $1,552,545.75, decreasing his ownership position by 2.13%.
• The company's stock has a market capitalization of $52.98 billion, with a current trading price around $201.84 per share.
• Institutions collectively own 94.45% of Atlassian's stock, with significant recent increases in holdings by firms such as Vanguard Group and Baillie Gifford & Co..

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,665 shares of the company's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $202.55, for a total transaction of $1,552,545.75. Following the transaction, the director directly owned 352,590 shares of the company's stock, valued at approximately $71,417,104.50. This represents a 2.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 stock was sold at an average price of $194.98, for a total value 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 value 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 value of $1,451,521.05.
• On Monday, July 14th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $192.06, for a total value of $1,472,139.90.
• 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 shares were sold at an average price of $219.98, for a total transaction of $1,686,146.70.
• On Monday, July 7th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $214.49, for a total transaction 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.

Atlassian Price Performance

Shares of TEAM traded down $1.16 during trading hours on Monday, hitting $201.84. The stock had a trading volume of 1,018,272 shares, compared to its average volume of 2,305,678. 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 capitalization of $52.98 billion, a price-to-earnings ratio of -121.59 and a beta of 0.94. Atlassian Corporation PLC has a 52 week low of $135.29 and a 52 week high of $326.00. The company's fifty day moving average is $203.90 and its two-hundred day moving average is $230.10.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The company's revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 EPS. On average, analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted 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 in 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 worth $1,845,114,000 after buying an additional 573,696 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Atlassian by 21.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 3,440,813 shares of the technology company's stock valued at $730,175,000 after acquiring an additional 616,071 shares in the last quarter. Voya Investment Management LLC lifted its position 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 worth $571,894,000 after purchasing an additional 523,035 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Atlassian by 265.9% during the 4th quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after buying an additional 1,777,179 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Raymond James Financial reissued an "outperform" rating and issued a $300.00 price target (down from $330.00) on shares of Atlassian in a report on Friday, May 2nd. Barclays cut their target price on shares of Atlassian from $260.00 to $244.00 and set an "overweight" rating for the company in a research report on Monday, July 21st. Wells Fargo & Company cut their price target on shares of Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. KeyCorp cut their price objective on Atlassian from $275.00 to $250.00 and set an "overweight" rating on the stock in a research note on Thursday, July 17th. Finally, Cantor Fitzgerald upgraded Atlassian from a "neutral" rating to an "overweight" rating and dropped their price objective for the stock from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $274.05.

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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