Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,459,810.74 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 8,241 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $177.14, for a total transaction of $1,459,810.74. Following the transaction, the chief executive officer now owns 341,727 shares in the company, valued at approximately $60,533,520.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, April 24th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $199.71, for a total transaction of $1,645,810.11.
• 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 transaction of $1,593,397.35.
• On Friday, April 12th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $207.36, for a total transaction of $1,708,853.76.
• On Thursday, March 28th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were 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 stock was sold at an average price of $214.32, for a total transaction of $1,766,211.12.
• On Friday, March 1st, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $207.85, for a total transaction 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 transaction of $1,687,674.39.
• On Tuesday, February 20th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $204.63, for a total transaction of $1,686,355.83.

Atlassian Stock Performance

Shares of TEAM stock opened at $172.77 on Thursday. Atlassian Co. has a 12 month low of $128.02 and a 12 month high of $258.69. The company has a current ratio of 1.18, a quick ratio of 1.07 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $44.82 billion, a P/E ratio of -274.24 and a beta of 0.63. The firm’s 50 day moving average is $198.09 and its 200 day moving average is $206.17.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the company posted ($0.40) EPS. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Atlassian Co. will post -0.42 earnings per share for the current year.

Wall Street Analyst Weigh In

TEAM has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on shares of Atlassian from $275.00 to $285.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Oppenheimer reduced their price objective on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Canaccord Genuity Group reduced their price objective on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, April 26th. The Goldman Sachs Group increased their target price on shares of Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Finally, Piper Sandler reduced their target price on shares of Atlassian from $225.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $223.22.

Institutional Trading of Atlassian

Institutional investors and hedge funds have recently bought and sold shares of the company. Hollencrest Capital Management raised its position in shares of Atlassian by 383.9% during the 1st quarter. Hollencrest Capital Management now owns 150 shares of the technology company’s stock valued at $29,000 after buying an additional 119 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Atlassian by 6.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 26,168 shares of the technology company’s stock valued at $5,106,000 after buying an additional 1,593 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Atlassian by 7.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock valued at $27,723,000 after buying an additional 10,434 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Atlassian by 12.9% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,540 shares of the technology company’s stock valued at $300,000 after buying an additional 176 shares in the last quarter. Finally, Norden Group LLC purchased a new stake in shares of Atlassian during the 1st quarter valued at $1,197,000. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

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.