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

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $161.30, for a total transaction of $1,236,364.50. Following the completion of the transaction, the director directly owned 45,990 shares in the company, valued at approximately $7,418,187. The trade was a 14.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, December 19th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.40, for a total transaction of $1,244,796.00.
• On Wednesday, December 17th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.16, for a total transaction of $1,250,621.40.
• On Monday, December 15th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $158.92, for a total transaction of $1,218,121.80.
• On Friday, December 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.11, for a total transaction of $1,242,573.15.
• On Wednesday, December 10th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.79, for a total value of $1,240,120.35.
• On Monday, December 8th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.70, for a total value of $1,231,765.50.
• On Friday, December 5th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $160.48, for a total value of $1,230,079.20.
• On Wednesday, December 3rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $155.08, for a total value of $1,188,688.20.
• On Friday, November 28th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $150.12, for a total value of $1,150,669.80.
• On Wednesday, November 26th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $148.29, for a total transaction of $1,136,642.85.

Atlassian Trading Down 1.3%

Atlassian stock traded down $2.06 during mid-day trading on Tuesday, reaching $162.39. 1,858,326 shares of the company traded hands, compared to its average volume of 2,494,999. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. Atlassian Corporation PLC has a 52-week low of $139.70 and a 52-week high of $326.00. The firm has a market capitalization of $42.73 billion, a price-to-earnings ratio of -228.72, a P/E/G ratio of 24.94 and a beta of 0.89. The firm’s 50 day moving average price is $157.46 and its 200 day moving average price is $173.26.

Atlassian (NASDAQ:TEAM) last announced its earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.21. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the previous year, the firm posted $0.77 EPS. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. On average, analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TEAM shares. Piper Sandler reissued an “overweight” rating and issued a $300.00 target price on shares of Atlassian in a research report on Friday, October 31st. Sanford C. Bernstein increased their price objective on Atlassian from $290.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, November 18th. Zacks Research raised Atlassian from a “strong sell” rating to a “hold” rating in a research report on Monday, November 3rd. UBS Group reduced their target price on shares of Atlassian from $215.00 to $185.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. Finally, Robert W. Baird set a $230.00 price target on shares of Atlassian in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $239.23.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. One Wealth Advisors LLC grew its holdings in Atlassian by 56.7% during the 2nd quarter. One Wealth Advisors LLC now owns 4,436 shares of the technology company’s stock valued at $901,000 after buying an additional 1,606 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Atlassian by 28.6% during the 2nd quarter. Allianz Asset Management GmbH now owns 102,194 shares of the technology company’s stock worth $20,755,000 after acquiring an additional 22,701 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Atlassian by 3.7% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 258,299 shares of the technology company’s stock valued at $52,458,000 after acquiring an additional 9,274 shares during the last quarter. Machina Capital S.A.S. grew its holdings in shares of Atlassian by 203.0% in the second quarter. Machina Capital S.A.S. now owns 9,376 shares of the technology company’s stock valued at $1,904,000 after purchasing an additional 6,282 shares in the last quarter. Finally, Nicholas Company Inc. increased its position in Atlassian by 10.0% in the second quarter. Nicholas Company Inc. now owns 227,789 shares of the technology company’s stock worth $46,262,000 after purchasing an additional 20,635 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

About Atlassian

Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.

Atlassian’s product portfolio centers on tools designed to help teams plan, build and support software and business processes.