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

Atlassian Co. (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,665 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $215.23, for a total value of $1,649,737.95. Following the completion of the sale, the director now directly owns 107,310 shares of the company's stock, valued at approximately $23,096,331.30. This trade represents a 6.67% decrease in their position. The transaction 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, June 6th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $216.09, for a total transaction of $1,717,483.32.
• On Tuesday, June 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $208.43, for a total value of $1,656,601.64.
• On Thursday, May 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $205.73, for a total transaction of $1,635,142.04.
• On Tuesday, May 27th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $210.81, for a total value of $1,675,517.88.
• On Friday, May 23rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $206.57, for a total transaction of $1,641,818.36.
• On Monday, May 19th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $214.92, for a total value of $1,708,184.16.
• On Friday, May 16th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $221.41, for a total transaction of $1,759,766.68.
• On Wednesday, May 14th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $225.44, for a total value of $1,791,797.12.
• On Tuesday, May 6th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $206.80, for a total value of $1,643,646.40.
• On Friday, May 2nd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $211.30, for a total value of $1,679,412.40.

Atlassian Stock Performance

NASDAQ TEAM traded down $11.55 during trading hours on Wednesday, reaching $201.50. The company's stock had a trading volume of 3,192,997 shares, compared to its average volume of 2,113,975. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The business has a 50-day simple moving average of $210.19 and a 200 day simple moving average of $243.79. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00. The stock has a market cap of $52.89 billion, a PE ratio of -150.37 and a beta of 0.96.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.04. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period last year, the firm posted $0.89 EPS. Atlassian's quarterly revenue was up 14.1% compared to the same quarter last year. Equities research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TEAM shares. Morgan Stanley decreased their price target on Atlassian from $370.00 to $320.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Baird R W upgraded shares of Atlassian from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 14th. BMO Capital Markets dropped their price target on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Macquarie cut their price objective on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded Atlassian from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Four investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $285.29.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its position in Atlassian by 5.6% in the third quarter. JPMorgan Chase & Co. now owns 2,478,358 shares of the technology company's stock worth $393,588,000 after purchasing an additional 131,621 shares during the period. Bleakley Financial Group LLC boosted its position in shares of Atlassian by 37.8% during the 4th quarter. Bleakley Financial Group LLC now owns 3,193 shares of the technology company's stock valued at $777,000 after purchasing an additional 876 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Atlassian by 18.8% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,198 shares of the technology company's stock worth $3,699,000 after purchasing an additional 2,400 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Atlassian by 39.6% in the 4th quarter. Empowered Funds LLC now owns 3,361 shares of the technology company's stock worth $818,000 after purchasing an additional 953 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Atlassian during the fourth quarter valued at approximately $119,000. Institutional investors and hedge funds own 94.45% of the company's stock.

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.