Scott Farquhar Sells 7,665 Shares of Atlassian Corporation PLC (NASDAQ:TEAM) Stock

Key Points

• Scott Farquhar, Director of Atlassian Corporation, sold 7,665 shares of the company's stock at an average price of $197.88, totaling approximately $1.52 million, resulting in a 2.27% decrease in his position.
• Atlassian's stock experienced a 2.7% decline, trading at $191.78, with a 50-day moving average of $203.12 and a 12-month high of $326.00.
• Several analysts have revised their price targets for Atlassian, with the average now at $274.05, reflecting a generally optimistic yet cautious outlook.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,665 shares of the business's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $197.88, for a total value of $1,516,750.20. Following the transaction, the director owned 329,595 shares in the company, valued at approximately $65,220,258.60. This represents a 2.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, July 28th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $202.05, for a total value of $1,548,713.25.
• On Friday, July 25th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $202.55, for a total value of $1,552,545.75.
• On Wednesday, July 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $202.78, for a total transaction of $1,554,308.70.
• 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 shares were sold at an average price of $192.06, for a total transaction 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 shares were 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 shares were sold at an average price of $214.49, for a total transaction of $1,644,065.85.

Atlassian Trading Down 2.7%

TEAM stock traded down $5.41 during trading hours on Thursday, reaching $191.78. 1,866,723 shares of the stock were exchanged, compared to its average volume of 1,911,433. The firm's 50-day moving average is $203.12 and its 200-day moving average is $229.38. Atlassian Corporation PLC has a 12 month low of $135.29 and a 12 month high of $326.00. 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 earnings results on Thursday, May 1st. The technology company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.04. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. Atlassian's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.89 EPS. As a group, sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on Atlassian from $330.00 to $315.00 and set an "overweight" rating for the company in a research report on Friday, May 2nd. Morgan Stanley lowered their price target on Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Barclays cut their price target on Atlassian from $260.00 to $244.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Stephens decreased their target price on Atlassian from $255.00 to $221.00 and set an "equal weight" rating for the company in a research report on Friday, May 2nd. Finally, KeyCorp dropped their target price on shares of Atlassian from $275.00 to $250.00 and set an "overweight" rating on the stock in a research report on Thursday, July 17th. Five 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $274.05.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TEAM. Massachusetts Financial Services Co. MA acquired a new stake in shares of Atlassian during the 4th quarter worth about $687,486,000. Voya Investment Management LLC raised its holdings in Atlassian by 17,941.0% in the 4th quarter. Voya Investment Management LLC now owns 2,172,854 shares of the technology company's stock valued at $528,693,000 after acquiring an additional 2,160,810 shares during the period. Invesco Ltd. lifted its position in Atlassian by 265.9% during the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after acquiring an additional 1,777,179 shares during the last quarter. Nuveen LLC bought a new stake in shares of Atlassian during the first quarter worth approximately $327,665,000. Finally, Durable Capital Partners LP grew its position in shares of Atlassian by 499.7% in the fourth quarter. Durable Capital Partners LP now owns 1,575,546 shares of the technology company's stock valued at $383,456,000 after purchasing an additional 1,312,820 shares during the last quarter. Institutional investors own 94.45% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.