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

Key Points

• Atlassian director Scott Farquhar sold 7,665 shares on January 30 at an average price of $119.15 for about $913,285, leaving him with 314,265 shares (a reported 2.38% ownership decrease).
• Farquhar completed 11 separate 7,665-share sales across January—totaling 84,315 shares—at prices ranging from $118.19 to $161.11, signaling sustained insider selling activity.
• TEAM was trading near $113.70 (close to its 12-month low of $113.47) while analysts hold a consensus "Moderate Buy" with an average price target of $227.60.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,665 shares of the business's stock in a transaction on Friday, January 30th. The shares were sold at an average price of $119.15, for a total transaction of $913,284.75. Following the sale, the director directly owned 314,265 shares in the company, valued at $37,444,674.75. This trade represents a 2.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, January 28th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $135.44, for a total value of $1,038,147.60.
• On Monday, January 26th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $136.93, for a total transaction of $1,049,568.45.
• On Thursday, January 22nd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $126.11, for a total transaction of $966,633.15.
• On Tuesday, January 20th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $118.19, for a total value of $905,926.35.
• On Friday, January 16th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $120.82, for a total transaction of $926,085.30.
• On Wednesday, January 14th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $133.66, for a total transaction of $1,024,503.90.
• On Monday, January 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $147.15, for a total transaction of $1,127,904.75.
• On Friday, January 9th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $145.91, for a total transaction of $1,118,400.15.
• On Wednesday, January 7th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.11, for a total value of $1,234,908.15.
• On Monday, January 5th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $154.20, for a total value of $1,181,943.00.

Atlassian Price Performance

TEAM stock traded down $4.48 during mid-day trading on Monday, reaching $113.70. 5,159,953 shares of the company's stock were exchanged, compared to its average volume of 4,788,458. 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 Corporation PLC has a 12-month low of $113.47 and a 12-month high of $326.00. The stock's 50 day moving average is $148.99 and its 200 day moving average is $161.14. The company has a market cap of $29.92 billion, a price-to-earnings ratio of -160.14, a price-to-earnings-growth ratio of 18.30 and a beta of 0.88.

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

Institutional Trading of Atlassian

Several hedge funds have recently made changes to their positions in TEAM. Physician Wealth Advisors Inc. increased 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 last quarter. GAMMA Investing LLC grew its position in Atlassian by 12.0% in the fourth quarter. GAMMA Investing LLC now owns 615 shares of the technology company's stock worth $100,000 after acquiring an additional 66 shares during the period. Snowden Capital Advisors LLC increased its stake in Atlassian by 1.6% during the second quarter. Snowden Capital Advisors LLC now owns 4,464 shares of the technology company's stock worth $907,000 after acquiring an additional 71 shares during the last quarter. Financial Perspectives Inc raised its position in Atlassian by 11.7% in the fourth quarter. Financial Perspectives Inc now owns 718 shares of the technology company's stock valued at $116,000 after purchasing an additional 75 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of Atlassian by 0.3% in the 2nd quarter. Cetera Investment Advisers now owns 24,808 shares of the technology company's stock valued at $5,038,000 after purchasing an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Jefferies Financial Group set a $262.00 target price on Atlassian in a research report on Thursday, January 15th. Macquarie lowered their target price on shares of Atlassian from $250.00 to $240.00 and set an "outperform" rating on the stock in a research note on Monday, November 3rd. Sanford C. Bernstein upped their target price on shares of Atlassian from $290.00 to $304.00 and gave the stock an "outperform" rating in a report on Tuesday, November 18th. UBS Group set a $145.00 price target on shares of Atlassian in a research note on Tuesday, January 27th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $240.00 price target on shares of Atlassian in a research report on Friday, October 31st. Twenty research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $227.60.

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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