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 firm's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $202.78, for a total value of $1,554,308.70. Following the sale, the director directly owned 367,920 shares of the company's stock, valued at $74,606,817.60. This trade represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, July 21st, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $194.98, for a total value of $1,494,521.70.
• On Friday, July 18th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $192.82, for a total value of $1,477,965.30.
• On Wednesday, July 16th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $189.37, for a total value 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 value 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 value of $1,476,585.60.
• On Wednesday, July 9th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $219.98, for a total value of $1,686,146.70.
• On Monday, July 7th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $214.49, for a total value of $1,644,065.85.
• On Thursday, July 3rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $213.97, for a total value 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 value 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 value of $1,561,053.90.

Atlassian Trading Up 1.6%

Shares of TEAM stock traded up $3.17 during mid-day trading on Friday, hitting $203.00. The company's stock had a trading volume of 1,122,031 shares, compared to its average volume of 2,091,735. The company's fifty day simple moving average is $203.90 and its 200-day simple moving average is $230.30. Atlassian Corporation PLC has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market cap of $53.29 billion, a PE ratio of -122.29 and a beta of 0.94.

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, topping the consensus estimate of $0.93 by $0.04. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the company posted $0.89 EPS. The business's quarterly revenue was up 14.1% on a year-over-year basis. As a group, equities research analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TEAM has been the topic of several recent analyst reports. Robert W. Baird raised Atlassian from a "neutral" rating to an "outperform" rating and decreased their price target for the company from $320.00 to $255.00 in a research note on Monday, April 14th. UBS Group reiterated a "hold" rating on shares of Atlassian in a research report on Monday, July 7th. Jefferies Financial Group cut their price objective on Atlassian from $330.00 to $262.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Barclays cut their price objective on Atlassian from $260.00 to $244.00 and set an "overweight" rating for the company in a research report on Monday, July 21st. Finally, KeyCorp cut their price objective on Atlassian from $275.00 to $250.00 and set an "overweight" rating for the company in a research report on Thursday, July 17th. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $274.05.

Institutional Trading of Atlassian

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEAM. Clean Yield Group increased its holdings in Atlassian by 372.0% during the 1st quarter. Clean Yield Group now owns 118 shares of the technology company's stock worth $25,000 after purchasing an additional 93 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of Atlassian in the fourth quarter valued at approximately $27,000. Colonial Trust Co SC grew its holdings in shares of Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company's stock valued at $34,000 after acquiring an additional 69 shares in the last quarter. Smithfield Trust Co grew its holdings in shares of Atlassian by 90.7% in the first quarter. Smithfield Trust Co now owns 164 shares of the technology company's stock valued at $34,000 after acquiring an additional 78 shares in the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of Atlassian in the fourth quarter valued at approximately $38,000. 94.45% of the stock is owned by institutional investors.

About Atlassian

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.