Scott Farquhar Sells 7,948 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $160.14, for a total transaction of $1,272,792.72. Following the sale, the director now directly owns 484,828 shares of the company’s stock, valued at $77,640,355.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Monday, September 9th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.82, for a total value of $1,302,041.36.
• On Tuesday, September 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $163.81, for a total value of $1,301,961.88.
• On Tuesday, August 27th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $164.81, for a total value of $1,309,909.88.
• On Wednesday, August 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $140.54, for a total transaction of $1,117,011.92.
• On Monday, August 5th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $143.54, for a total transaction of $1,140,855.92.
• On Monday, July 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $178.96, for a total transaction of $1,422,374.08.
• On Friday, July 19th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $175.91, for a total transaction of $1,398,132.68.
• On Friday, July 12th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $181.21, for a total value of $1,440,257.08.

Atlassian Stock Up 6.6 %

Shares of TEAM stock opened at $171.00 on Friday. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $258.69. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market cap of $44.51 billion, a price-to-earnings ratio of -271.43 and a beta of 0.73. The firm’s 50-day moving average is $159.07 and its 200-day moving average is $172.47.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, August 1st. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the company posted ($0.21) EPS. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. Sell-side analysts predict that Atlassian Co. will post -0.58 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group upgraded Atlassian from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $200.00 to $230.00 in a report on Friday, August 2nd. Raymond James upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 price target for the company in a report on Tuesday, October 1st. Wells Fargo & Company dropped their price objective on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. JMP Securities raised shares of Atlassian to a “hold” rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets dropped their price target on Atlassian from $220.00 to $177.00 and set a “market perform” rating on the stock in a research note on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Atlassian currently has an average rating of “Moderate Buy” and a consensus target price of $216.65.

Hedge Funds Weigh In On Atlassian

Several institutional investors and hedge funds have recently modified their holdings of TEAM. Vanguard Group Inc. boosted its holdings in shares of Atlassian by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after buying an additional 504,181 shares during the period. Diversified Trust Co boosted its holdings in shares of Atlassian by 27.6% during the first quarter. Diversified Trust Co now owns 14,036 shares of the technology company’s stock worth $2,739,000 after acquiring an additional 3,035 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Atlassian by 7.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,087 shares of the technology company’s stock valued at $27,723,000 after purchasing an additional 10,434 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Atlassian by 2.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 175,350 shares of the technology company’s stock worth $34,213,000 after purchasing an additional 3,687 shares during the period. Finally, Alta Park Capital LP lifted its holdings in Atlassian by 66.7% during the 4th quarter. Alta Park Capital LP now owns 69,700 shares of the technology company’s stock worth $16,579,000 after purchasing an additional 27,900 shares during the last quarter. 93.03% 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.