Scott Farquhar Sells 8,241 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $199.71, for a total value of $1,645,810.11. Following the completion of the sale, the chief executive officer now owns 366,450 shares in the company, valued at $73,183,729.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, April 22nd, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $193.35, for a total value of $1,593,397.35.
• On Friday, April 12th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $207.36, for a total value of $1,708,853.76.
• On Thursday, March 28th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $194.67, for a total transaction of $1,604,275.47.
• On Friday, March 22nd, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $192.73, for a total transaction of $1,588,287.93.
• On Monday, March 18th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $197.25, for a total transaction of $1,625,537.25.
• On Monday, March 11th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $214.32, for a total value of $1,766,211.12.
• On Friday, March 1st, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $207.85, for a total value of $1,712,891.85.
• On Monday, February 26th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $204.79, for a total value of $1,687,674.39.
• On Tuesday, February 20th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $204.63, for a total value of $1,686,355.83.
• On Monday, February 12th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $218.32, for a total transaction of $1,799,175.12.

Atlassian Stock Down 9.6 %

Shares of TEAM opened at $179.45 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. Atlassian Co. has a 12 month low of $128.02 and a 12 month high of $258.69. The firm’s 50 day moving average is $199.98 and its 200-day moving average is $206.53. The stock has a market capitalization of $46.55 billion, a PE ratio of -120.44 and a beta of 0.63.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. Equities research analysts forecast that Atlassian Co. will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TEAM. OFI Invest Asset Management acquired a new position in shares of Atlassian during the third quarter worth $26,000. Carmel Capital Partners LLC increased its holdings in Atlassian by 28.5% in the 3rd quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock worth $52,000 after purchasing an additional 57 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in Atlassian by 271.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after purchasing an additional 271 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Atlassian by 255.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock worth $96,000 after purchasing an additional 291 shares during the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of Atlassian during the fourth quarter worth about $107,000. Institutional investors own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Truist Financial decreased their price objective on shares of Atlassian from $220.00 to $200.00 and set a “hold” rating for the company in a research report on Friday. Canaccord Genuity Group dropped their price objective on Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday. KeyCorp initiated coverage on Atlassian in a research note on Tuesday, March 19th. They set a “sector weight” rating for the company. StockNews.com cut Atlassian from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, William Blair reaffirmed an “outperform” rating on shares of Atlassian in a report on Friday, February 2nd. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Atlassian presently has an average rating of “Hold” and an average target price of $223.22.

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.