Atlassian Corporation PLC (NASDAQ:TEAM) Director Sells $1,644,065.85 in Stock

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 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 $98,643,951. This represents a 1.64% decrease in their ownership of the stock. The sale 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 9th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $219.98, for a total transaction of $1,686,146.70.
• 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 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 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 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 stock was sold at an average price of $200.68, for a total transaction 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 transaction of $1,529,550.75.

Atlassian Price Performance

NASDAQ:TEAM traded down $5.84 during mid-day trading on Friday, reaching $194.21. 596,701 shares of the stock were exchanged, compared to its average volume of 2,165,134. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The business has a fifty day moving average price of $208.39 and a 200 day moving average price of $234.49. Atlassian Corporation PLC has a 1-year low of $135.29 and a 1-year high of $326.00. The firm has a market capitalization of $50.98 billion, a PE ratio of -117.20 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 (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.04. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The company had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the previous year, the company posted $0.89 EPS. The business's revenue was up 14.1% compared to the same quarter last year. Research analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on TEAM shares. KeyCorp dropped their price objective on shares of Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Piper Sandler reaffirmed an "overweight" rating and issued a $300.00 target price (down from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Wells Fargo & Company cut their target price on Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a research note on Friday, May 2nd. Canaccord Genuity Group cut their price objective on shares of Atlassian from $300.00 to $255.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, Barclays reduced their target price on shares of Atlassian from $350.00 to $260.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Four 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. According to MarketBeat, Atlassian presently has a consensus rating of "Moderate Buy" and an average target price of $282.19.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA purchased a new stake in shares of Atlassian during the fourth quarter valued at $687,486,000. Voya Investment Management LLC lifted its stake in Atlassian by 17,941.0% during the fourth quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock valued at $528,693,000 after buying an additional 2,160,810 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock worth $1,042,737,000 after buying an additional 1,806,042 shares during the period. Invesco Ltd. increased its position in shares of Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after acquiring an additional 1,777,179 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Atlassian during the first quarter valued at approximately $327,665,000. Institutional investors own 94.45% of the company's stock.

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.