Insider Selling: Atlassian (NASDAQ:TEAM) Director Sells $1,196,889.75 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $156.15, for a total transaction of $1,196,889.75. Following the completion of the transaction, the director directly owned 459,900 shares in the company, valued at approximately $71,813,385. This represents a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Monday, January 5th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $154.20, for a total transaction of $1,181,943.00.
• On Wednesday, December 31st, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.68, for a total transaction of $1,246,942.20.
• On Monday, December 29th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.66, for a total value of $1,254,453.90.
• On Friday, December 26th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.53, for a total value of $1,245,792.45.
• 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 value of $1,244,796.00.
• On Tuesday, December 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.30, for a total value of $1,236,364.50.
• On Wednesday, December 17th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $163.16, for a total value of $1,250,621.40.
• On Monday, December 15th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $158.92, for a total value of $1,218,121.80.
• On Friday, December 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were 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 stock was sold at an average price of $161.79, for a total transaction of $1,240,120.35.

Atlassian Price Performance

Shares of TEAM stock opened at $160.87 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $42.33 billion, a PE ratio of -226.57, a price-to-earnings-growth ratio of 24.52 and a beta of 0.88. The firm’s 50-day moving average is $157.59 and its two-hundred day moving average is $169.98. Atlassian Corporation PLC has a 12 month low of $139.70 and a 12 month high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.21. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The business’s revenue for the quarter was up 20.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 EPS. Analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

TEAM has been the subject of a number of recent analyst reports. Piper Sandler cut their price objective on Atlassian from $300.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday. Bank of America started coverage on shares of Atlassian in a research note on Tuesday, September 23rd. They set a “neutral” rating and a $200.00 target price for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Atlassian in a research note on Wednesday, October 8th. BMO Capital Markets upped their price objective on shares of Atlassian from $190.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Finally, KeyCorp lowered their price objective on shares of Atlassian from $250.00 to $210.00 and set an “overweight” rating for the company in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and an average price target of $238.46.

Hedge Funds Weigh In On Atlassian

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Green Alpha Advisors LLC increased its position in shares of Atlassian by 13.9% during the fourth quarter. Green Alpha Advisors LLC now owns 3,019 shares of the technology company’s stock worth $490,000 after acquiring an additional 369 shares during the period. Riversedge Advisors LLC acquired a new position in Atlassian during the 4th quarter worth $343,000. Board of the Pension Protection Fund acquired a new position in Atlassian during the 4th quarter worth $32,000. GAMMA Investing LLC increased its holdings in Atlassian by 12.0% during the 4th quarter. GAMMA Investing LLC now owns 615 shares of the technology company’s stock worth $100,000 after purchasing an additional 66 shares during the period. Finally, Allworth Financial LP raised its position in Atlassian by 21.6% in the 3rd quarter. Allworth Financial LP now owns 3,161 shares of the technology company’s stock valued at $505,000 after purchasing an additional 561 shares in the last quarter. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Atlassian Company Profile

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.