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

Key Points

• Scott Farquhar, director of Atlassian, sold 7,665 shares of the company's stock on October 8 for a total of approximately $1.16 million, reducing his ownership to 444,570 shares.
• Atlassian's stock is currently down by 1.2%, trading at $147.74 with a market cap of $38.76 billion.
• After recently posting earnings that exceeded expectations, Atlassian has a consensus target price of $248.74 among analysts, indicating a generally positive outlook despite a negative net margin.

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 Wednesday, October 8th. The stock was sold at an average price of $150.93, for a total transaction of $1,156,878.45. Following the transaction, the director directly owned 444,570 shares of the company's stock, valued at $67,098,950.10. This trade represents a 1.69% 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 Monday, October 6th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $150.75, for a total transaction of $1,155,498.75.
• On Friday, October 3rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $150.86, for a total transaction of $1,156,341.90.
• On Wednesday, October 1st, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $152.50, for a total transaction of $1,168,912.50.
• On Monday, September 29th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $166.36, for a total transaction of $1,275,149.40.
• On Friday, September 26th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $165.26, for a total transaction of $1,266,717.90.
• On Wednesday, September 24th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $165.09, for a total transaction of $1,265,414.85.
• On Monday, September 22nd, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $170.20, for a total transaction of $1,304,583.00.
• On Friday, September 19th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $169.32, for a total transaction of $1,297,837.80.
• On Wednesday, September 17th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $173.56, for a total transaction of $1,330,337.40.
• On Friday, September 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $175.17, for a total transaction of $1,342,678.05.

Atlassian Stock Down 1.2%

TEAM traded down $1.78 during trading on Thursday, hitting $147.74. The company had a trading volume of 2,296,007 shares, compared to its average volume of 2,411,603. The company has a market cap of $38.76 billion, a PE ratio of -149.23 and a beta of 0.92. Atlassian Corporation PLC has a 1-year low of $146.16 and a 1-year high of $326.00. The business has a 50-day moving average of $167.81 and a 200-day moving average of $193.42. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.22.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.15. The company had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.36 billion. Atlassian had a negative net margin of 4.92% and a negative return on equity of 14.77%. The firm's revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 earnings per share. Atlassian has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Institutional Trading of Atlassian

Hedge funds have recently bought and sold shares of the company. Capco Asset Management LLC acquired a new stake in shares of Atlassian during the 2nd quarter valued at $25,000. Smithfield Trust Co raised its position 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 purchasing an additional 78 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Atlassian by 447.2% in the first quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock worth $42,000 after acquiring an additional 161 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of Atlassian by 25.9% in the first quarter. First Horizon Advisors Inc. now owns 267 shares of the technology company's stock worth $57,000 after acquiring an additional 55 shares during the last quarter. Finally, State of Wyoming boosted its stake in Atlassian by 20.3% during the first quarter. State of Wyoming now owns 278 shares of the technology company's stock worth $59,000 after buying an additional 47 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TEAM shares. Bank of America started coverage on shares of Atlassian in a research report on Tuesday, September 23rd. They set a "neutral" rating and a $200.00 price target for the company. Citigroup lowered their price target on shares of Atlassian from $300.00 to $240.00 and set a "buy" rating for the company in a research report on Monday, August 18th. Barclays decreased their target price on shares of Atlassian from $244.00 to $215.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Canaccord Genuity Group decreased their target price on shares of Atlassian from $255.00 to $230.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Finally, Oppenheimer decreased their target price on shares of Atlassian from $300.00 to $275.00 and set an "outperform" rating for the company in a research report on Monday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Atlassian has an average rating of "Moderate Buy" and a consensus target price of $248.74.

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.