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

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $244.84, for a total value of $1,945,988.32. Following the transaction, the director now directly owns 270,232 shares in the company, valued at $66,163,602.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Friday, November 8th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $237.04, for a total value of $1,883,993.92.
• On Monday, November 4th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $219.07, for a total value of $1,741,168.36.
• On Wednesday, October 16th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $189.96, for a total transaction of $1,509,802.08.
• On Monday, October 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $169.00, for a total transaction of $1,343,212.00.
• On Thursday, October 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $160.14, for a total transaction of $1,272,792.72.
• On Monday, September 9th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.82, for a total value of $1,302,041.36.
• On Tuesday, September 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.81, for a total transaction of $1,301,961.88.
• On Tuesday, August 27th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $164.81, for a total transaction of $1,309,909.88.

Atlassian Trading Up 3.1 %

Shares of Atlassian stock opened at $252.78 on Thursday. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $258.69. The company’s fifty day simple moving average is $184.61 and its 200-day simple moving average is $173.61. The company has a market cap of $65.83 billion, a price-to-earnings ratio of -166.30 and a beta of 0.71. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.13. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the business posted ($0.07) EPS. The business’s quarterly revenue was up 21.5% on a year-over-year basis. As a group, sell-side analysts expect that Atlassian Co. will post -0.56 EPS for the current year.

Institutional Trading of Atlassian

Hedge funds have recently modified their holdings of the company. Empowered Funds LLC raised its stake in shares of Atlassian by 333.4% in the 1st quarter. Empowered Funds LLC now owns 6,666 shares of the technology company’s stock valued at $1,301,000 after buying an additional 5,128 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in Atlassian by 78.8% in the first quarter. Oppenheimer & Co. Inc. now owns 5,248 shares of the technology company’s stock valued at $1,024,000 after acquiring an additional 2,313 shares during the period. Concurrent Investment Advisors LLC acquired a new position in Atlassian in the first quarter worth about $216,000. Russell Investments Group Ltd. lifted its stake in Atlassian by 7.1% during the first quarter. Russell Investments Group Ltd. now owns 209,498 shares of the technology company’s stock worth $40,767,000 after purchasing an additional 13,886 shares during the period. Finally, US Bancorp DE boosted its holdings in Atlassian by 0.5% during the first quarter. US Bancorp DE now owns 51,272 shares of the technology company’s stock valued at $10,004,000 after purchasing an additional 258 shares in the last quarter. Institutional investors own 93.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barclays cut their target price on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Piper Sandler boosted their target price on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. BMO Capital Markets lifted their target price on shares of Atlassian from $177.00 to $255.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. UBS Group increased their price target on shares of Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Baird R W lowered shares of Atlassian from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Atlassian has a consensus rating of “Moderate Buy” and an average target price of $243.16.

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.