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

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $234.38, for a total transaction of $1,862,852.24. Following the completion of the sale, the director now owns 39,740 shares in the company, valued at $9,314,261.20. This represents a 16.67 % decrease in their position. The sale 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 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 value of $1,733,061.40.
• On Friday, February 28th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was 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 stock was 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 shares were 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.
• On Friday, January 31st, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $308.86, for a total transaction of $2,454,819.28.
• On Wednesday, January 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $270.63, for a total value 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 stock was sold at an average price of $253.01, for a total value of $2,010,923.48.

Atlassian Trading Up 0.7 %

TEAM traded up $1.60 during trading on Tuesday, reaching $236.22. The company had a trading volume of 1,531,275 shares, compared to its average volume of 1,941,070. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. The business has a 50 day simple moving average of $271.21 and a 200-day simple moving average of $237.32. The stock has a market cap of $61.89 billion, a P/E ratio of -176.28 and a beta of 0.91. Atlassian Co. has a 52 week low of $135.29 and a 52 week high of $326.00.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Murphy & Mullick Capital Management Corp bought a new stake in shares of Atlassian during the 4th quarter worth approximately $27,000. Colonial Trust Co SC lifted its position in shares of Atlassian by 100.0% during the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock worth $34,000 after purchasing an additional 69 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Atlassian during the fourth quarter valued at $38,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Atlassian in the fourth quarter worth about $39,000. Finally, Avion Wealth increased its stake in Atlassian by 1,308.3% in the 4th quarter. Avion Wealth now owns 169 shares of the technology company’s stock worth $41,000 after buying an additional 157 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Wall Street Analyst Weigh In

TEAM has been the subject of several analyst reports. StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Scotiabank raised their price objective on shares of Atlassian from $250.00 to $330.00 and gave the company a “sector perform” rating in a research report on Friday, January 31st. The Goldman Sachs Group lifted 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. Raymond James reiterated an “outperform” rating and issued a $330.00 price target (up previously from $250.00) on shares of Atlassian in a research note on Friday, January 31st. Finally, UBS Group boosted their price objective on Atlassian from $275.00 to $330.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and an average target price of $316.77.

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.