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 that occurred on Wednesday, July 16th. The stock was sold at an average price of $189.37, for a total transaction of $1,451,521.05. Following the completion of the transaction, the director owned 406,245 shares in the company, valued at $76,930,615.65. This represents a 1.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, July 14th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.06, for a total transaction of $1,472,139.90.
• On Friday, July 11th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.64, for a total transaction of $1,476,585.60.
• 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 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.

Atlassian Stock Performance

Shares of Atlassian stock traded up $0.17 during trading hours on Thursday, reaching $190.62. 2,070,218 shares of the stock traded hands, compared to its average volume of 2,195,561. The company has a 50 day moving average price of $206.93 and a 200 day moving average price of $232.68. The firm has a market capitalization of $50.04 billion, a price-to-earnings ratio of -114.83 and a beta of 0.94. Atlassian Corporation PLC has a one year low of $135.29 and a one year high of $326.00. 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 for the quarter, beating analysts' consensus estimates 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 firm had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same period in the previous year, the firm earned $0.89 EPS. The business's quarterly revenue was up 14.1% on a year-over-year basis. On average, equities research analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TEAM shares. Macquarie decreased their price objective on Atlassian from $270.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Capital One Financial downgraded Atlassian from an "overweight" rating to an "equal weight" rating and set a $211.00 price objective for the company. in a report on Wednesday. Baird R W upgraded Atlassian from a "hold" rating to a "strong-buy" rating in a report on Monday, April 14th. Wells Fargo & Company decreased their price objective on Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded Atlassian from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $279.81.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Clean Yield Group lifted its holdings in Atlassian by 372.0% in the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after purchasing an additional 93 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in Atlassian in the 4th quarter worth approximately $27,000. Colonial Trust Co SC increased its position in shares of Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock valued at $34,000 after purchasing an additional 69 shares during the last quarter. Smithfield Trust Co increased its position in shares of Atlassian by 90.7% during the 1st quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after purchasing an additional 78 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of Atlassian during the 4th quarter valued at approximately $38,000. 94.45% of the stock is owned by hedge funds and other institutional investors.

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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