Insider Selling: Atlassian (NASDAQ:TEAM) Director Sells 7,665 Shares of Stock

Key Points

• On December 23, Atlassian director Scott Farquhar sold 7,665 shares at an average price of $161.30 for $1,236,364.50, leaving him with 45,990 shares (a 14.29% reduction from his prior holding).
• Farquhar executed identical trades of 7,665 shares on 11 occasions from November 26 through December 23, totaling about 84,315 shares sold, indicating sustained insider selling over the period.
• For context, TEAM was trading near $162.39 (52-week range $139.70–$326.00) and carries a MarketBeat consensus rating of Moderate Buy with a $239.23 target.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,665 shares of the firm's stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $161.30, for a total transaction of $1,236,364.50. Following the transaction, the director directly owned 45,990 shares of the company's stock, valued at $7,418,187. The trade was a 14.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Friday, December 19th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.40, for a total value of $1,244,796.00.
• On Wednesday, December 17th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $163.16, for a total value of $1,250,621.40.
• On Monday, December 15th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $158.92, for a total value of $1,218,121.80.
• On Friday, December 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.11, for a total value of $1,242,573.15.
• On Wednesday, December 10th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $161.79, for a total transaction of $1,240,120.35.
• On Monday, December 8th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $160.70, for a total transaction of $1,231,765.50.
• On Friday, December 5th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.48, for a total transaction of $1,230,079.20.
• On Wednesday, December 3rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $155.08, for a total value of $1,188,688.20.
• On Friday, November 28th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $150.12, for a total value of $1,150,669.80.
• On Wednesday, November 26th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $148.29, for a total value of $1,136,642.85.

Atlassian Price Performance

TEAM stock traded down $2.06 during mid-day trading on Tuesday, reaching $162.39. 1,858,326 shares of the company traded hands, compared to its average volume of 2,494,999. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $42.73 billion, a P/E ratio of -228.72, a P/E/G ratio of 24.94 and a beta of 0.89. Atlassian Corporation PLC has a 52-week low of $139.70 and a 52-week high of $326.00. The company has a fifty day moving average price of $157.46 and a 200-day moving average price of $173.26.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.21. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.40 billion. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. Atlassian's revenue was up 20.6% compared to the same quarter last year. During the same period last year, the business earned $0.77 earnings per share. As a group, analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Institutional Trading of Atlassian

Several hedge funds have recently added to or reduced their stakes in TEAM. State of Wyoming grew its stake in shares of Atlassian by 20.3% during the first quarter. State of Wyoming now owns 278 shares of the technology company's stock valued at $59,000 after buying an additional 47 shares during the last quarter. Physician Wealth Advisors Inc. boosted its holdings in Atlassian by 60.4% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company's stock valued at $26,000 after acquiring an additional 61 shares during the period. EP Wealth Advisors LLC grew its position in Atlassian by 2.8% during the 1st quarter. EP Wealth Advisors LLC now owns 2,641 shares of the technology company's stock worth $561,000 after acquiring an additional 71 shares during the last quarter. Snowden Capital Advisors LLC increased its stake in Atlassian by 1.6% in the 2nd quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company's stock worth $907,000 after purchasing an additional 71 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in Atlassian by 11.5% in the first quarter. Smartleaf Asset Management LLC now owns 716 shares of the technology company's stock valued at $156,000 after purchasing an additional 74 shares during the last quarter. 94.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TEAM. Sanford C. Bernstein lifted their price objective on Atlassian from $290.00 to $304.00 and gave the company an "outperform" rating in a research note on Tuesday, November 18th. Canaccord Genuity Group reiterated a "buy" rating and set a $230.00 price target on shares of Atlassian in a research report on Wednesday, October 22nd. Zacks Research raised Atlassian from a "strong sell" rating to a "hold" rating in a report on Monday, November 3rd. Robert W. Baird set a $230.00 target price on shares of Atlassian in a research note on Friday, October 31st. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Atlassian in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Atlassian has a consensus rating of "Moderate Buy" and a consensus target price of $239.23.

Atlassian Company Profile

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian's product portfolio centers on tools designed to help teams plan, build and support software and business processes.

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