Scott Farquhar Sells 7,948 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,948 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $211.30, for a total value of $1,679,412.40. Following the sale, the director now owns 190,752 shares of the company's stock, valued at $40,305,897.60. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, April 25th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $229.11, for a total transaction of $1,820,966.28.
• On Monday, April 14th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $202.19, for a total transaction of $1,607,006.12.
• On Monday, April 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $185.61, for a total transaction of $1,475,228.28.
• On Wednesday, March 26th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $229.64, for a total value of $1,825,178.72.
• On Monday, March 24th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $234.38, for a total value of $1,862,852.24.
• On Monday, March 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $218.05, for a total transaction of $1,733,061.40.
• On Friday, February 28th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.61, for a total value of $2,214,392.28.
• On Wednesday, February 26th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $289.77, for a total value of $2,303,091.96.
• On Monday, February 24th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $283.26, for a total transaction of $2,251,350.48.
• On Friday, February 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $315.69, for a total transaction of $2,509,104.12.

Atlassian Trading Down 0.3 %

NASDAQ:TEAM traded down $0.70 during trading hours on Monday, reaching $207.78. 2,339,477 shares of the stock were exchanged, compared to its average volume of 2,073,943. The company has a market capitalization of $54.44 billion, a price-to-earnings ratio of -155.06 and a beta of 1.06. The business has a 50-day moving average of $222.61 and a two-hundred day moving average of $245.84. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. The business had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. During the same period last year, the company posted $0.89 EPS. The company's revenue was up 14.1% on a year-over-year basis. On average, equities analysts predict that Atlassian Co. will post -0.34 EPS for the current year.

Hedge Funds Weigh In On Atlassian

Several hedge funds have recently modified their holdings of TEAM. Corebridge Financial Inc. boosted its position in Atlassian by 0.3% during the fourth quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company's stock valued at $2,555,000 after purchasing an additional 35 shares during the last quarter. GeoWealth Management LLC increased its stake in shares of Atlassian by 26.8% in the fourth quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock valued at $44,000 after buying an additional 38 shares in the last quarter. Assetmark Inc. increased its position in Atlassian by 30.6% in the fourth quarter. Assetmark Inc. now owns 175 shares of the technology company's stock worth $43,000 after purchasing an additional 41 shares during the period. Allworth Financial LP increased its holdings in Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock valued at $404,000 after purchasing an additional 47 shares during the last quarter. Finally, True Wealth Design LLC boosted its position in shares of Atlassian by 21.6% during the fourth quarter. True Wealth Design LLC now owns 282 shares of the technology company's stock worth $69,000 after purchasing an additional 50 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Barclays lowered their price objective on Atlassian from $350.00 to $260.00 and set an "overweight" rating on the stock in a research report on Monday. BMO Capital Markets decreased their target price on shares of Atlassian from $295.00 to $245.00 and set an "outperform" rating for the company in a research report on Friday. William Blair reiterated an "outperform" rating on shares of Atlassian in a report on Friday, January 31st. Macquarie decreased their price target on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday. Finally, Cantor Fitzgerald raised Atlassian from a "neutral" rating to an "overweight" rating and dropped their target price for the company from $304.00 to $272.00 in a report on Wednesday, April 2nd. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Atlassian presently has an average rating of "Moderate Buy" and an average target price of $285.29.

Atlassian Company Profile

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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