Insider Selling: Atlassian Corporation PLC (NASDAQ:TEAM) Director Sells 7,665 Shares of Stock

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,665 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $214.49, for a total value of $1,644,065.85. Following the transaction, the director owned 459,900 shares of the company's stock, valued at approximately $98,643,951. This represents a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 stock was 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 stock was 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 transaction 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 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 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 stock was sold at an average price of $215.23, for a total value of $1,649,737.95.

Atlassian Stock Up 0.7%

NASDAQ TEAM traded up $1.53 during trading hours on Wednesday, reaching $220.89. 1,634,612 shares of the company's stock were exchanged, compared to its average volume of 2,163,190. The company has a market capitalization of $57.99 billion, a price-to-earnings ratio of -133.07 and a beta of 0.94. Atlassian Corporation PLC has a one year low of $135.29 and a one year high of $326.00. The company's 50-day moving average is $208.97 and its two-hundred day moving average is $234.84. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 8.66% and a negative return on equity of 23.41%. Atlassian's revenue was up 14.1% on a year-over-year basis. During the same period last year, the business posted $0.89 EPS. On average, analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Atlassian in the 4th quarter valued at about $27,000. Clean Yield Group lifted its position in Atlassian by 372.0% in the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock valued at $25,000 after acquiring an additional 93 shares in the last quarter. Colonial Trust Co SC lifted its position in Atlassian by 100.0% in the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock valued at $34,000 after acquiring an additional 69 shares in the last quarter. Summit Securities Group LLC bought a new position in Atlassian in the 4th quarter valued at about $38,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Atlassian in the 4th quarter valued at about $39,000. 94.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TEAM has been the topic of several analyst reports. Cantor Fitzgerald upgraded Atlassian from a "neutral" rating to an "overweight" rating and lowered their target price for the company from $304.00 to $272.00 in a research report on Wednesday, April 2nd. UBS Group reiterated a "hold" rating on shares of Atlassian in a research report on Monday. Stephens lowered their price target on Atlassian from $255.00 to $221.00 and set an "equal weight" rating on the stock in a research report on Friday, May 2nd. Jefferies Financial Group lowered their price target on Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Finally, Wells Fargo & Company decreased their target price on Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $282.19.

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.