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

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the company’s stock in a transaction on Monday, June 30th. The stock was sold at an average price of $203.16, for a total transaction of $1,557,221.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Friday, June 27th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $203.66, for a total transaction of $1,561,053.90.
• On Wednesday, June 25th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $199.71, for a total transaction of $1,530,777.15.
• On Monday, June 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $192.68, for a total transaction of $1,476,892.20.
• On Friday, June 20th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $192.44, for a total transaction of $1,475,052.60.
• On Wednesday, June 18th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $196.44, for a total transaction of $1,505,712.60.
• On Monday, June 16th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $200.68, for a total transaction of $1,538,212.20.
• On Thursday, June 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $199.55, for a total transaction of $1,529,550.75.
• On Monday, June 9th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $215.23, for a total transaction of $1,649,737.95.
• On Friday, June 6th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $216.09, for a total transaction of $1,717,483.32.
• On Tuesday, June 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $208.43, for a total transaction of $1,656,601.64.

Atlassian Trading Up 2.3%

Shares of TEAM opened at $207.71 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. Atlassian Corporation PLC has a 1-year low of $135.29 and a 1-year high of $326.00. The business’s 50-day moving average price is $210.15 and its 200 day moving average price is $236.59. The stock has a market capitalization of $54.53 billion, a P/E ratio of -125.13 and a beta of 0.94.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.93 by $0.04. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the business posted $0.89 EPS. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. Analysts expect that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TEAM. BMO Capital Markets dropped their price objective on shares of Atlassian from $295.00 to $245.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Raymond James Financial reaffirmed an “outperform” rating and issued a $300.00 price objective (down previously from $330.00) on shares of Atlassian in a report on Friday, May 2nd. Mizuho reduced their price target on shares of Atlassian from $325.00 to $290.00 and set an “outperform” rating for the company in a report on Thursday, June 12th. Stephens reduced their price target on shares of Atlassian from $255.00 to $221.00 and set an “equal weight” rating for the company in a report on Friday, May 2nd. Finally, KeyCorp cut their price objective on shares of Atlassian from $365.00 to $275.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Four analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $282.19.

Institutional Investors Weigh In On Atlassian

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kera Capital Partners Inc. acquired a new position in shares of Atlassian during the second quarter worth approximately $368,000. AG2R LA Mondiale Gestion D Actifs bought a new stake in Atlassian in the first quarter valued at $1,350,000. Voya Investment Management LLC grew its position in Atlassian by 24.1% in the first quarter. Voya Investment Management LLC now owns 2,695,889 shares of the technology company’s stock valued at $571,894,000 after acquiring an additional 523,035 shares during the period. 1248 Management LLC bought a new stake in Atlassian in the first quarter valued at $413,000. Finally, First Hawaiian Bank bought a new stake in shares of Atlassian during the first quarter worth $292,000. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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.