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 business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $192.82, for a total transaction of $1,477,965.30. Following the completion of the sale, the director directly owned 390,915 shares of the company's stock, valued at $75,376,230.30. This represents a 1.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, July 16th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $189.37, for a total transaction of $1,451,521.05.
• 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 shares were 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 shares were sold at an average price of $214.49, for a total transaction of $1,644,065.85.
• On Thursday, July 3rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were 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 shares were 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 shares were 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 shares were sold at an average price of $192.68, for a total transaction of $1,476,892.20.

Atlassian Trading Down 0.3%

NASDAQ TEAM traded down $0.50 during trading hours on Monday, hitting $194.36. 1,356,169 shares of the company were exchanged, compared to its average volume of 2,202,019. 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 Corporation PLC has a 52 week low of $135.29 and a 52 week high of $326.00. The stock has a market cap of $51.02 billion, a PE ratio of -117.08 and a beta of 0.94. The stock has a 50-day moving average price of $206.33 and a 200 day moving average price of $231.80.

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. The business had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The business's revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 earnings per share. Analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Truist Financial decreased their price objective on shares of Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a report on Monday, March 31st. Raymond James Financial reissued an "outperform" rating and set a $300.00 price objective (down from $330.00) on shares of Atlassian in a research report on Friday, May 2nd. UBS Group reiterated a "hold" rating on shares of Atlassian in a research note on Monday, July 7th. Piper Sandler reissued an "overweight" rating and set a $300.00 price target (down from $365.00) on shares of Atlassian in a report on Friday, May 2nd. Finally, BMO Capital Markets dropped their price objective 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. Five analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $274.05.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TEAM. Farther Finance Advisors LLC lifted its position in shares of Atlassian by 37.7% during the first quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company's stock valued at $80,000 after buying an additional 101 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Atlassian by 42.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,240 shares of the technology company's stock worth $900,000 after buying an additional 1,259 shares during the period. Principal Financial Group Inc. increased its holdings in Atlassian by 350.1% in the 1st quarter. Principal Financial Group Inc. now owns 51,900 shares of the technology company's stock worth $11,014,000 after buying an additional 40,369 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Atlassian by 47,387.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,799 shares of the technology company's stock valued at $822,000 after purchasing an additional 3,791 shares in the last quarter. Finally, Amalgamated Bank increased its holdings in shares of Atlassian by 6.1% during the 1st quarter. Amalgamated Bank now owns 11,360 shares of the technology company's stock valued at $2,411,000 after purchasing an additional 650 shares in the last quarter. 94.45% of the stock is currently owned by 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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