Scott Farquhar Sells 7,665 Shares of Atlassian Corporation PLC (NASDAQ:TEAM) Stock

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,665 shares of the stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $219.98, for a total value of $1,686,146.70. Following the completion of the sale, the director directly owned 444,570 shares of the company's stock, valued at approximately $97,796,508.60. This represents a 1.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Monday, July 7th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $214.49, for a total value of $1,644,065.85.
• 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 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 stock was 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 stock was 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 stock was 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 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.

Atlassian Stock Performance

Shares of NASDAQ:TEAM traded down $13.04 during trading on Friday, hitting $187.01. 3,553,326 shares of the stock were exchanged, compared to its average volume of 2,179,769. Atlassian Corporation PLC has a 1-year low of $135.29 and a 1-year high of $326.00. The company has a market capitalization of $49.09 billion, a price-to-earnings ratio of -112.66 and a beta of 0.94. The company's fifty day simple moving average is $207.96 and its 200-day simple moving average is $234.00. 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 announced its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.04. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the firm earned $0.89 EPS. Atlassian's revenue for the quarter was up 14.1% compared to the same quarter last year. Sell-side analysts expect that Atlassian Corporation PLC will post -0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Wells Fargo & Company lowered their price objective on Atlassian from $330.00 to $315.00 and set an "overweight" rating on the stock in a report on Friday, May 2nd. Piper Sandler reissued an "overweight" rating and set a $300.00 price objective (down previously from $365.00) on shares of Atlassian in a report on Friday, May 2nd. KeyCorp lowered their price objective on Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Wall Street Zen raised Atlassian from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. Finally, Mizuho lowered their price objective on Atlassian from $325.00 to $290.00 and set an "outperform" rating on the stock in a report on Thursday, June 12th. Four equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $282.19.

Institutional Trading of Atlassian

Several institutional investors have recently modified their holdings of TEAM. Farther Finance Advisors LLC raised its position in Atlassian by 37.7% in the 1st quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company's stock valued at $80,000 after purchasing an additional 101 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Atlassian by 42.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,240 shares of the technology company's stock valued at $900,000 after buying an additional 1,259 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Atlassian by 47,387.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,799 shares of the technology company's stock valued at $822,000 after buying an additional 3,791 shares during the period. Amalgamated Bank increased its stake in shares of Atlassian by 6.1% in the 1st quarter. Amalgamated Bank now owns 11,360 shares of the technology company's stock valued at $2,411,000 after buying an additional 650 shares during the period. Finally, LPL Financial LLC increased its stake in shares of Atlassian by 93.4% in the 4th quarter. LPL Financial LLC now owns 51,534 shares of the technology company's stock valued at $12,542,000 after buying an additional 24,891 shares during the period. Institutional investors and hedge funds own 94.45% of the company's stock.

About Atlassian

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.