Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,512,305.91 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $183.51, for a total transaction of $1,512,305.91. Following the sale, the chief executive officer now directly owns 308,763 shares of the company’s stock, valued at $56,661,098.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, April 29th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $177.14, for a total transaction of $1,459,810.74.
• On Wednesday, April 24th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was 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 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 value of $1,604,275.47.
• On Friday, March 22nd, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $192.73, for a total value of $1,588,287.93.
• On Monday, March 18th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.25, for a total value 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 shares were 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 shares were sold at an average price of $204.79, for a total transaction of $1,687,674.39.

Atlassian Stock Down 3.0 %

Atlassian stock opened at $178.52 on Thursday. The business’s 50-day simple moving average is $195.77 and its two-hundred day simple moving average is $205.78. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market cap of $46.47 billion, a PE ratio of -283.37 and a beta of 0.67. Atlassian Co. has a fifty-two week low of $128.02 and a fifty-two week high of $258.69.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative return on equity of 13.95% and a negative net margin of 3.90%. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the firm earned ($0.40) earnings per share. Atlassian’s revenue for the quarter was up 29.9% on a year-over-year basis. Equities analysts anticipate that Atlassian Co. will post -0.29 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on TEAM shares. Oppenheimer lowered their target price on Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, April 26th. The Goldman Sachs Group upped their price objective on Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Canaccord Genuity Group cut their target price on Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Piper Sandler decreased their price target 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. Finally, StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Monday, April 29th. Ten equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $223.22.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Graypoint LLC boosted its holdings in Atlassian by 2.4% in the fourth quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock valued at $424,000 after purchasing an additional 42 shares during the last quarter. Legacy Wealth Asset Management LLC grew its holdings in Atlassian by 1.4% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock worth $736,000 after acquiring an additional 43 shares during the period. Park National Corp OH raised its position in Atlassian by 3.5% during the fourth quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock valued at $342,000 after acquiring an additional 48 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in Atlassian by 1.5% in the first quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock valued at $721,000 after acquiring an additional 55 shares during the period. Finally, UMB Bank n.a. boosted its position in Atlassian by 5.7% in the 4th quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock worth $248,000 after purchasing an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

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.