Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,645,810.11 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 8,241 shares of Atlassian stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $199.71, for a total value of $1,645,810.11. Following the sale, the chief executive officer now directly owns 366,450 shares of the company’s stock, valued at approximately $73,183,729.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, April 22nd, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $193.35, for a total value 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 shares were 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 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 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 value 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 value 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 value 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 value 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.

Atlassian Price Performance

Atlassian stock traded down $0.60 during mid-day trading on Thursday, hitting $198.41. 1,921,415 shares of the company were exchanged, compared to its average volume of 1,690,192. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.07 and a quick ratio of 1.07. The business’s 50 day simple moving average is $200.84 and its two-hundred day simple moving average is $206.75. The company has a market capitalization of $51.47 billion, a P/E ratio of -133.42 and a beta of 0.63. Atlassian Co. has a 12-month low of $128.02 and a 12-month high of $258.69.

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

Institutional Investors Weigh In On Atlassian

Several hedge funds have recently made changes to their positions in TEAM. Equitable Trust Co. boosted its holdings in Atlassian by 0.9% in the first quarter. Equitable Trust Co. now owns 19,373 shares of the technology company’s stock valued at $3,780,000 after acquiring an additional 167 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Atlassian by 28.7% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 45,800 shares of the technology company’s stock worth $8,936,000 after purchasing an additional 10,200 shares in the last quarter. CENTRAL TRUST Co increased its position in shares of Atlassian by 4.2% during the first quarter. CENTRAL TRUST Co now owns 7,517 shares of the technology company’s stock worth $1,467,000 after acquiring an additional 304 shares during the last quarter. Dakota Wealth Management increased its position in shares of Atlassian by 15.1% during the first quarter. Dakota Wealth Management now owns 7,097 shares of the technology company’s stock worth $1,385,000 after acquiring an additional 930 shares during the last quarter. Finally, Simplicity Wealth LLC purchased a new stake in shares of Atlassian during the first quarter worth about $482,000. Institutional investors and hedge funds own 93.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TEAM. StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Mizuho cut their price objective on Atlassian from $265.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, April 15th. Wells Fargo & Company boosted their price objective on Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. William Blair restated an “outperform” rating on shares of Atlassian in a report on Friday, February 2nd. Finally, Citigroup cut their price target on Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a report on Friday, April 12th. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $224.25.

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.