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 firm's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $196.44, for a total value of $1,505,712.60. Following the sale, the director now directly owns 53,655 shares in the company, valued at approximately $10,539,988.20. This represents a 12.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• 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 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 shares were sold at an average price of $215.23, for a total transaction of $1,649,737.95.
• On Friday, June 6th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $216.09, for a total transaction of $1,717,483.32.
• On Tuesday, June 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $208.43, for a total transaction of $1,656,601.64.
• On Thursday, May 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $205.73, for a total value of $1,635,142.04.
• 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 value of $1,675,517.88.
• On Friday, May 23rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $206.57, for a total value 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 value of $1,708,184.16.
• On Friday, May 16th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $221.41, for a total transaction of $1,759,766.68.

Atlassian Stock Down 1.0%

Shares of TEAM traded down $2.06 during mid-day trading on Wednesday, hitting $196.14. The company's stock had a trading volume of 3,199,606 shares, compared to its average volume of 2,324,362. 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 company's 50-day moving average is $210.81 and its 200-day moving average is $241.89. Atlassian Corporation PLC has a 52-week low of $135.29 and a 52-week high of $326.00. The firm has a market capitalization of $51.49 billion, a price-to-earnings ratio of -118.16 and a beta of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations 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 last year, the firm earned $0.89 EPS. On average, equities research analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Mizuho dropped their price objective on shares of Atlassian from $325.00 to $290.00 and set an "outperform" rating for the company in a research note on Thursday, June 12th. Barclays dropped their price target on Atlassian from $350.00 to $260.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Cantor Fitzgerald raised Atlassian from a "neutral" rating to an "overweight" rating and reduced their price objective for the stock from $304.00 to $272.00 in a research note on Wednesday, April 2nd. Wall Street Zen lowered Atlassian from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Macquarie cut their target price on Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $282.19.

Hedge Funds Weigh In On Atlassian

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Voya Investment Management LLC boosted its position in shares of Atlassian by 24.1% in the 1st quarter. Voya Investment Management LLC now owns 2,695,889 shares of the technology company's stock worth $571,894,000 after purchasing an additional 523,035 shares in the last quarter. 1248 Management LLC acquired a new stake in Atlassian in the first quarter worth about $413,000. First Hawaiian Bank purchased a new stake in shares of Atlassian during the first quarter worth about $292,000. Strs Ohio purchased a new stake in shares of Atlassian during the first quarter worth about $21,914,000. Finally, Diker Management LLC purchased a new position in shares of Atlassian in the 1st quarter valued at approximately $849,000. 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.

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