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 stock on August 11th for a total value of $1,253,304.15, decreasing his ownership by 2.78% to 268,275 shares.
• Atlassian's stock price fell 0.8% to $158.00 following recent trading, with a significant decrease compared to its two-hundred day moving average of $224.37.
• The company reported earnings of $0.98 per share for the latest quarter, exceeding expectations and showing a 22.3% year-over-year revenue growth.

Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,665 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $163.51, for a total value of $1,253,304.15. Following the completion of the transaction, the director owned 268,275 shares in the company, valued at $43,865,645.25. This represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, August 8th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $171.03, for a total value of $1,310,944.95.
• On Wednesday, August 6th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $185.81, for a total transaction of $1,424,233.65.
• On Monday, August 4th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $185.43, for a total transaction of $1,421,320.95.
• On Friday, August 1st, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $184.43, for a total value of $1,413,655.95.
• On Wednesday, July 30th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $197.88, for a total value of $1,516,750.20.
• 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 shares were 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 shares were sold at an average price of $202.78, for a total value 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.

Atlassian Stock Down 0.8%

Atlassian stock traded down $1.28 during mid-day trading on Tuesday, reaching $158.00. 5,758,007 shares of the company were exchanged, compared to its average volume of 2,531,947. The firm's 50-day simple moving average is $197.41 and its two-hundred day simple moving average is $224.37. Atlassian Corporation PLC has a twelve month low of $139.23 and a twelve month high of $326.00. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.15. Atlassian had a negative return on equity of 15.19% and a negative net margin of 4.92%. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the company earned $0.66 earnings per share. The company's revenue for the quarter was up 22.3% on a year-over-year basis. Research analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GeoWealth Management LLC raised its holdings in Atlassian by 26.8% during the fourth quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock worth $44,000 after purchasing an additional 38 shares in the last quarter. State of Wyoming increased its stake in Atlassian by 20.3% in the 1st quarter. State of Wyoming now owns 278 shares of the technology company's stock valued at $59,000 after purchasing an additional 47 shares in the last quarter. True Wealth Design LLC increased its position in shares of Atlassian by 21.6% in the fourth quarter. True Wealth Design LLC now owns 282 shares of the technology company's stock valued at $69,000 after buying an additional 50 shares in the last quarter. Covenant Partners LLC raised its position in Atlassian by 4.2% during the fourth quarter. Covenant Partners LLC now owns 1,328 shares of the technology company's stock worth $323,000 after acquiring an additional 53 shares during the last quarter. Finally, First Citizens Bank & Trust Co. increased its stake in shares of Atlassian by 4.7% during the 1st quarter. First Citizens Bank & Trust Co. now owns 1,192 shares of the technology company's stock worth $253,000 after purchasing an additional 54 shares in the last quarter. 94.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TEAM has been the subject of a number of recent research reports. KeyCorp decreased their price target on shares of Atlassian from $275.00 to $250.00 and set an "overweight" rating for the company in a research note on Thursday, July 17th. Morgan Stanley lowered their target price on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Raymond James Financial set a $250.00 price target on Atlassian and gave the stock an "outperform" rating in a report on Friday. Truist Financial set a $230.00 price target on Atlassian in a report on Friday. Finally, Stephens decreased their price target on Atlassian from $221.00 to $202.00 and set an "equal weight" rating for the company in a report on Monday. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $259.76.

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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