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

Key Points

• Scott Farquhar, Director of Atlassian, sold 7,665 shares of the company's stock at an average price of $185.43, totaling approximately $1.42 million, which reduced his holdings to 306,600 shares.
• Atlassian's stock has shown significant fluctuations, with a 12-month high of $326.00 and a low of $136.84, reflecting volatility in the market.
• Analysts maintain a generally positive outlook, with 19 buy ratings and a consensus target price of $274.05, despite some analysts reducing their price targets.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,665 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $185.43, for a total transaction of $1,421,320.95. Following the transaction, the director owned 306,600 shares of the company's stock, valued at approximately $56,852,838. This represents a 2.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Friday, August 1st, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $184.43, for a total transaction of $1,413,655.95.
• On Wednesday, July 30th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $197.88, for a total transaction of $1,516,750.20.
• On Monday, July 28th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $202.05, for a total transaction of $1,548,713.25.
• On Friday, July 25th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $202.55, for a total transaction of $1,552,545.75.
• On Wednesday, July 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were 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 transaction 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 transaction of $1,477,965.30.
• On Wednesday, July 16th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $189.37, for a total transaction 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 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 transaction of $1,476,585.60.

Atlassian Price Performance

NASDAQ TEAM traded down $0.25 on Tuesday, hitting $185.44. The company had a trading volume of 2,196,234 shares, compared to its average volume of 2,279,210. The company has a market capitalization of $48.68 billion, a PE ratio of -111.71 and a beta of 0.96. The company's fifty day moving average price is $202.31 and its 200-day moving average price is $228.31. 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 $136.84 and a 12-month high of $326.00.

Institutional Investors Weigh In On Atlassian

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its holdings in Atlassian by 18.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,041,878 shares of the technology company's stock worth $211,595,000 after acquiring an additional 159,300 shares in the last quarter. Machina Capital S.A.S. increased its holdings in Atlassian by 203.0% in the 2nd quarter. Machina Capital S.A.S. now owns 9,376 shares of the technology company's stock worth $1,904,000 after acquiring an additional 6,282 shares in the last quarter. Nicholas Company Inc. grew its holdings in shares of Atlassian by 10.0% during the second quarter. Nicholas Company Inc. now owns 227,789 shares of the technology company's stock worth $46,262,000 after buying an additional 20,635 shares in the last quarter. Tredje AP fonden purchased a new stake in shares of Atlassian during the second quarter worth $38,012,000. Finally, TIAA Trust National Association grew its holdings in shares of Atlassian by 89.5% during the second quarter. TIAA Trust National Association now owns 97,576 shares of the technology company's stock worth $19,817,000 after buying an additional 46,088 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on TEAM shares. Piper Sandler reissued an "overweight" rating and set a $300.00 target price (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Jefferies Financial Group lowered their price target on shares of Atlassian from $330.00 to $262.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Robert W. Baird upgraded shares of Atlassian from a "neutral" rating to an "outperform" rating and lowered their price target for the company from $320.00 to $255.00 in a report on Monday, April 14th. Oppenheimer lowered their target price on shares of Atlassian from $300.00 to $275.00 and set an "outperform" rating for the company in a research note on Monday, July 21st. Finally, Canaccord Genuity Group lowered their target price on shares of Atlassian from $300.00 to $255.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Five research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $274.05.

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.

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