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 the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $214.49, for a total transaction of $1,644,065.85. Following the completion of the sale, the director directly 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Thursday, July 3rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was 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.
• 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 stock was sold at an average price of $199.71, for a total transaction of $1,530,777.15.
• 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 stock was 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 transaction 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.
• 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 transaction of $1,649,737.95.

Atlassian Stock Down 8.0%

Shares of TEAM traded down $17.57 during mid-day trading on Thursday, hitting $203.32. 2,424,624 shares of the company's stock were exchanged, compared to its average volume of 2,164,927. The firm has a fifty day moving average of $208.97 and a two-hundred day moving average of $234.84. Atlassian Corporation PLC has a twelve month low of $135.29 and a twelve month high of $326.00. The stock has a market cap of $53.37 billion, a price-to-earnings ratio of -122.22 and a beta of 0.94. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted 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. 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 quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 EPS. On average, sell-side analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Institutional Trading of Atlassian

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Atlassian by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 16,993,537 shares of the technology company's stock worth $3,606,198,000 after buying an additional 580,583 shares during the period. Baillie Gifford & Co. boosted its holdings in Atlassian by 7.1% in the 1st quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company's stock valued at $1,845,114,000 after purchasing an additional 573,696 shares during the period. JPMorgan Chase & Co. boosted its holdings in Atlassian by 72.9% in the 4th quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock valued at $1,042,737,000 after purchasing an additional 1,806,042 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings 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 purchasing an additional 616,071 shares during the period. Finally, Voya Investment Management LLC boosted its holdings in Atlassian by 24.1% in the 1st 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. 94.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TEAM. Cantor Fitzgerald upgraded shares of Atlassian from a "neutral" rating to an "overweight" rating and cut their price target for the company from $304.00 to $272.00 in a report on Wednesday, April 2nd. Barclays cut their price target on shares of Atlassian from $350.00 to $260.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. BMO Capital Markets cut their price target on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Morgan Stanley cut their price target on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Baird R W upgraded shares of Atlassian from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.