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

Key Points

• Scott Farquhar, an Atlassian director, sold 7,665 shares on Dec. 29 at an average price of $163.66 for $1,254,453.90, leaving him with 15,330 shares (a 33.33% reduction in his stake).
• He executed the same-sized sale on 11 separate December dates (Dec. 3–29), selling a total of 84,315 shares for roughly $13.6 million in aggregate proceeds.
• Atlassian shares traded around $163.99 (up 0.5%) with a $43.15 billion market cap; analysts hold a "Moderate Buy" consensus with an average price target of $239.23 after the company beat recent quarterly EPS and revenue but still reports negative net margins.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,665 shares of the business's stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $163.66, for a total value of $1,254,453.90. Following the completion of the transaction, the director owned 15,330 shares of the company's stock, valued at $2,508,907.80. This represents a 33.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Friday, December 26th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.53, for a total transaction of $1,245,792.45.
• On Friday, December 19th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.40, for a total transaction of $1,244,796.00.
• On Tuesday, December 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $161.30, for a total transaction of $1,236,364.50.
• On Wednesday, December 17th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.16, for a total transaction of $1,250,621.40.
• On Monday, December 15th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $158.92, for a total transaction of $1,218,121.80.
• On Friday, December 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was 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 shares were sold at an average price of $161.79, for a total value 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 value 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 value of $1,230,079.20.
• On Wednesday, December 3rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $155.08, for a total value of $1,188,688.20.

Atlassian Stock Up 0.5%

NASDAQ:TEAM traded up $0.84 during trading hours on Monday, reaching $163.99. 1,252,752 shares of the stock were exchanged, compared to its average volume of 2,475,155. The stock has a market cap of $43.15 billion, a PE ratio of -230.97, a PEG ratio of 25.27 and a beta of 0.89. Atlassian Corporation PLC has a twelve month low of $139.70 and a twelve month high of $326.00. The firm has a 50 day moving average of $158.22 and a 200 day moving average of $171.86. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.21. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. The firm's revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 earnings per share. On average, equities analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Hedge Funds Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEAM. Capco Asset Management LLC bought a new position in shares of Atlassian in the second quarter valued at about $25,000. Physician Wealth Advisors Inc. boosted its holdings in shares of Atlassian by 60.4% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company's stock worth $26,000 after buying an additional 61 shares during the period. Atlantic Union Bankshares Corp grew its stake in Atlassian by 19,900.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company's stock valued at $32,000 after buying an additional 199 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Atlassian by 447.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock valued at $42,000 after acquiring an additional 161 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in Atlassian during the third quarter worth approximately $57,000. 94.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

TEAM has been the topic of a number of recent research reports. Wells Fargo & Company began coverage on Atlassian in a research report on Tuesday, September 30th. They issued an "overweight" rating and a $216.00 target price on the stock. UBS Group lowered their price target on Atlassian from $215.00 to $185.00 and set a "neutral" rating on the stock in a research report on Friday, October 24th. Wall Street Zen raised Atlassian from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Mizuho raised their target price on shares of Atlassian from $235.00 to $245.00 and gave the company an "outperform" rating in a research note on Friday, October 31st. Finally, Citigroup reaffirmed a "buy" rating on shares of Atlassian in a research report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Atlassian currently has an average rating of "Moderate Buy" and an average price target 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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