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 company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $194.67, for a total value of $1,604,275.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 value 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 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 value 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 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 transaction 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 value of $1,799,175.12.
• On Wednesday, January 31st, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $251.76, for a total value of $2,074,754.16.
• On Monday, January 29th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $253.53, for a total value of $2,089,340.73.
• On Wednesday, January 24th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $245.64, for a total value of $2,024,319.24.

Atlassian Stock Performance

NASDAQ:TEAM traded up $1.97 on Thursday, reaching $195.11. 1,130,247 shares of the company’s stock were exchanged, compared to its average volume of 1,748,954. The stock has a fifty day simple moving average of $214.94 and a 200-day simple moving average of $207.04. The firm has a market cap of $50.61 billion, a price-to-earnings ratio of -130.35 and a beta of 0.64. Atlassian Co. has a 52 week low of $128.02 and a 52 week high of $258.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07.

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

Institutional Trading of Atlassian

Several large investors have recently added to or reduced their stakes in TEAM. OFI Invest Asset Management purchased a new position in shares of Atlassian during the third quarter valued at about $26,000. Meeder Asset Management Inc. boosted its position in Atlassian by 151.5% during the 4th quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock valued at $31,000 after acquiring an additional 147 shares in the last quarter. Tyler Stone Wealth Management purchased a new position in shares of Atlassian during the 2nd quarter worth approximately $34,000. Quarry LP purchased a new position in Atlassian during the second quarter valued at $44,000. Finally, Harbour Investments Inc. lifted its position in Atlassian by 148.8% during the 4th quarter. Harbour Investments Inc. now owns 199 shares of the technology company’s stock valued at $47,000 after acquiring an additional 119 shares during the period. Institutional investors own 93.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Citigroup boosted their price objective on Atlassian from $215.00 to $280.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. UBS Group cut their price target on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, February 2nd. William Blair reissued an “outperform” rating on shares of Atlassian in a research note on Friday, February 2nd. Scotiabank began coverage on Atlassian in a research note on Friday, December 1st. They issued a “sector perform” rating and a $185.00 price target for the company. Finally, The Goldman Sachs Group boosted their target price on shares of Atlassian from $188.00 to $215.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $225.19.

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.