Atlassian Co. (NASDAQ:TEAM) Director Sells $1,635,142.04 in Stock

Atlassian Co. (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $205.73, for a total transaction of $1,635,142.04. Following the transaction, the director now directly owns 47,688 shares of the company's stock, valued at $9,810,852.24. This represents a 14.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, May 27th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $210.81, for a total transaction of $1,675,517.88.
• On Friday, May 23rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $206.57, for a total transaction of $1,641,818.36.
• On Monday, May 19th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $214.92, for a total transaction of $1,708,184.16.
• On Friday, May 16th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $221.41, for a total transaction of $1,759,766.68.
• On Wednesday, May 14th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $225.44, for a total transaction of $1,791,797.12.
• On Tuesday, May 6th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $206.80, for a total transaction of $1,643,646.40.
• On Friday, May 2nd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $211.30, for a total transaction of $1,679,412.40.
• On Friday, April 25th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $229.11, for a total transaction of $1,820,966.28.
• On Monday, April 14th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $202.19, for a total transaction of $1,607,006.12.
• On Monday, April 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $185.61, for a total transaction of $1,475,228.28.

Atlassian Stock Performance

Shares of TEAM stock traded up $2.38 during trading hours on Friday, hitting $206.31. 3,481,076 shares of the company were exchanged, compared to its average volume of 2,090,394. The firm has a fifty day simple moving average of $210.57 and a 200 day simple moving average of $245.81. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The stock has a market capitalization of $54.16 billion, a price-to-earnings ratio of -153.96 and a beta of 1.06.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings results 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 7.22% and a negative return on equity of 17.37%. The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the business posted $0.89 EPS. Atlassian's quarterly revenue was up 14.1% compared to the same quarter last year. Research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Cantor Fitzgerald raised shares of Atlassian from a "neutral" rating to an "overweight" rating and cut their price objective for the stock from $304.00 to $272.00 in a research report on Wednesday, April 2nd. Piper Sandler reaffirmed an "overweight" rating and issued a $300.00 price target (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. BMO Capital Markets dropped their price target on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Raymond James reaffirmed an "outperform" rating and issued a $300.00 price target (down previously from $330.00) on shares of Atlassian in a research report on Friday, May 2nd. Finally, Wells Fargo & Company dropped their price target on shares of Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a research report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $285.29.

Institutional Investors Weigh In On Atlassian

Institutional investors have recently made changes to their positions in the stock. Allworth Financial LP lifted its position in shares of Atlassian by 3.1% during the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock worth $404,000 after acquiring an additional 47 shares in the last quarter. SYM FINANCIAL Corp purchased a new stake in shares of Atlassian during the fourth quarter worth $230,000. LPL Financial LLC lifted its position in shares of Atlassian by 93.4% during the fourth quarter. LPL Financial LLC now owns 51,534 shares of the technology company's stock worth $12,542,000 after acquiring an additional 24,891 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Atlassian during the fourth quarter worth $299,000. Finally, Blue Trust Inc. lifted its position in shares of Atlassian by 20.9% during the fourth quarter. Blue Trust Inc. now owns 811 shares of the technology company's stock worth $197,000 after acquiring an additional 140 shares in the last quarter. Hedge funds and other 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.