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 that occurred on Monday, July 7th. The shares were sold at an average price of $214.49, for a total value of $1,644,065.85. Following the completion of the transaction, the director owned 459,900 shares in the company, valued at $98,643,951. This trade represents a 1.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• 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 value of $1,640,080.05.
• On Monday, June 30th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $203.16, for a total value of $1,557,221.40.
• On Friday, June 27th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $203.66, for a total value of $1,561,053.90.
• On Wednesday, June 25th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $199.71, for a total value of $1,530,777.15.
• On Monday, June 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were 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 shares were sold at an average price of $192.44, for a total value of $1,475,052.60.
• On Wednesday, June 18th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were 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 shares were 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.

Atlassian Price Performance

Shares of NASDAQ TEAM traded down $0.97 during trading on Wednesday, reaching $218.39. The company had a trading volume of 268,701 shares, compared to its average volume of 2,156,294. Atlassian Corporation PLC has a twelve month low of $135.29 and a twelve month high of $326.00. The stock has a market capitalization of $57.33 billion, a PE ratio of -132.55 and a beta of 0.94. The stock has a 50-day moving average price of $209.12 and a two-hundred day moving average price of $234.94. 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 (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. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. The business's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 earnings per share. As a group, sell-side analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on TEAM. Jefferies Financial Group reduced their price target on Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a report on Monday, April 7th. KeyCorp reduced their price target on Atlassian from $365.00 to $275.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Truist Financial reduced their price target on Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a report on Monday, March 31st. Baird R W raised Atlassian from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Finally, Mizuho reduced their price objective on Atlassian from $325.00 to $290.00 and set an "outperform" rating for the company in a report on Thursday, June 12th. Four research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Atlassian has a consensus rating of "Moderate Buy" and an average target price of $282.19.

Institutional Investors Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. OMNI 360 Wealth Inc. purchased a new stake in shares of Atlassian in the second quarter valued at $294,000. Central Pacific Bank Trust Division purchased a new stake in shares of Atlassian in the second quarter valued at $610,000. Kera Capital Partners Inc. purchased a new stake in shares of Atlassian in the second quarter valued at $368,000. AG2R LA Mondiale Gestion D Actifs purchased a new stake in shares of Atlassian in the first quarter valued at $1,350,000. Finally, Voya Investment Management LLC grew 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 valued at $571,894,000 after purchasing an additional 523,035 shares during the period. Hedge funds and other institutional investors own 94.45% of the company's stock.

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.