Insider Selling: Atlassian Co. (NASDAQ:TEAM) Director Sells 7,948 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $283.26, for a total value of $2,251,350.48. Following the sale, the director now owns 198,700 shares in the company, valued at $56,283,762. The trade was a 3.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, February 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $315.69, for a total value of $2,509,104.12.
• On Friday, January 31st, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $308.86, for a total value of $2,454,819.28.
• On Wednesday, January 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $270.63, for a total transaction of $2,150,967.24.
• On Tuesday, January 21st, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.71, for a total value of $2,032,383.08.
• On Friday, January 17th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $253.01, for a total value of $2,010,923.48.
• On Wednesday, December 18th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $258.33, for a total value of $2,053,206.84.
• On Tuesday, December 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $269.35, for a total value of $2,140,793.80.
• On Monday, December 2nd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $265.96, for a total value of $2,113,850.08.

Atlassian Stock Up 0.1 %

NASDAQ TEAM traded up $0.20 on Tuesday, reaching $284.26. The stock had a trading volume of 1,551,170 shares, compared to its average volume of 2,026,971. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 1 year low of $135.29 and a 1 year high of $326.00. The business has a 50 day moving average price of $273.10 and a 200 day moving average price of $224.90. The company has a market capitalization of $74.48 billion, a price-to-earnings ratio of -212.13 and a beta of 0.87.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, analysts forecast that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Institutional Trading of Atlassian

A number of institutional investors and hedge funds have recently made changes to their positions in TEAM. Polar Asset Management Partners Inc. bought a new position in shares of Atlassian in the 4th quarter valued at approximately $1,606,000. Mackenzie Financial Corp grew its holdings in Atlassian by 6.2% during the fourth quarter. Mackenzie Financial Corp now owns 82,001 shares of the technology company’s stock valued at $19,957,000 after purchasing an additional 4,797 shares during the last quarter. Toronto Dominion Bank raised its position in shares of Atlassian by 14.6% in the fourth quarter. Toronto Dominion Bank now owns 26,405 shares of the technology company’s stock valued at $6,426,000 after purchasing an additional 3,371 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of Atlassian in the fourth quarter worth $7,447,000. Finally, University of Texas Texas AM Investment Management Co. boosted its holdings in shares of Atlassian by 66.4% during the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 7,120 shares of the technology company’s stock worth $1,733,000 after buying an additional 2,842 shares during the period. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TEAM shares. StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a report on Friday. The Goldman Sachs Group increased their target price on shares of Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Truist Financial restated a “buy” rating and issued a $350.00 price target (up previously from $300.00) on shares of Atlassian in a research report on Friday, January 31st. KeyCorp increased their price objective on Atlassian from $315.00 to $365.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Macquarie lifted their target price on Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Atlassian has an average rating of “Moderate Buy” and a consensus price target of $319.71.

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.