Scott Farquhar Sells 8,614 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM – Get Rating) CEO Scott Farquhar sold 8,614 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $160.65, for a total value of $1,383,839.10. Following the sale, the chief executive officer now owns 200,394 shares in the company, valued at approximately $32,193,296.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, May 10th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $136.86, for a total value of $1,178,912.04.
• On Friday, April 28th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $147.87, for a total value of $1,273,752.18.
• On Wednesday, April 26th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $150.72, for a total value of $1,298,302.08.
• On Wednesday, April 19th, Scott Farquhar sold 8,614 shares of Atlassian stock. The stock was sold at an average price of $162.31, for a total transaction of $1,398,138.34.
• On Monday, April 17th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $165.35, for a total transaction of $1,424,324.90.
• On Friday, April 14th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $163.71, for a total value of $1,410,197.94.
• On Monday, April 10th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $156.31, for a total transaction of $1,346,454.34.
• On Wednesday, April 5th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $158.64, for a total transaction of $1,366,524.96.
• On Monday, April 3rd, Scott Farquhar sold 8,614 shares of Atlassian stock. The stock was sold at an average price of $165.05, for a total transaction of $1,421,740.70.
• On Wednesday, March 29th, Scott Farquhar sold 8,614 shares of Atlassian stock. The shares were sold at an average price of $157.59, for a total transaction of $1,357,480.26.

Atlassian Trading Up 4.6 %

NASDAQ TEAM traded up $7.27 during trading hours on Friday, hitting $166.15. 2,095,375 shares of the company’s stock were exchanged, compared to its average volume of 2,257,368. Atlassian Co. has a 12-month low of $113.86 and a 12-month high of $300.29. The business’s 50 day moving average is $153.05 and its 200-day moving average is $149.42. The firm has a market capitalization of $42.70 billion, a P/E ratio of -81.32 and a beta of 0.82. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.31 and a current ratio of 1.31.

Atlassian (NASDAQ:TEAM – Get Rating) last released its earnings results on Thursday, May 4th. The technology company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.15). Atlassian had a negative net margin of 15.89% and a negative return on equity of 79.71%. The company had revenue of $915.45 million during the quarter, compared to analysts’ expectations of $898.71 million. As a group, analysts anticipate that Atlassian Co. will post -0.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TEAM shares. Barclays dropped their target price on Atlassian from $155.00 to $130.00 in a report on Sunday, May 7th. Oppenheimer reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Atlassian in a report on Monday, April 17th. KeyCorp boosted their price objective on Atlassian from $174.00 to $187.00 and gave the company an “overweight” rating in a research note on Thursday, April 20th. Piper Sandler reduced their price objective on Atlassian from $160.00 to $140.00 in a research note on Friday, May 5th. Finally, The Goldman Sachs Group downgraded shares of Atlassian from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $240.00 to $165.00 in a research report on Friday, May 5th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $197.74.

Hedge Funds Weigh In On Atlassian

Hedge funds and other institutional investors have recently modified their holdings of the company. Andesa Financial Management Inc. acquired a new position in Atlassian during the first quarter valued at approximately $233,000. Carmel Capital Partners LLC purchased a new stake in Atlassian during the first quarter worth approximately $34,000. Allworth Financial LP grew its stake in Atlassian by 2,411.1% during the first quarter. Allworth Financial LP now owns 226 shares of the technology company’s stock worth $39,000 after buying an additional 217 shares during the period. Guinness Atkinson Asset Management Inc purchased a new stake in Atlassian during the fourth quarter worth approximately $30,000. Finally, Meeder Asset Management Inc. raised its position in Atlassian by 151.5% in the fourth quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock valued at $31,000 after purchasing an additional 147 shares during the period. 45.50% of the stock is owned by institutional investors and hedge funds.

Atlassian Company Profile

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Atlassian Corp. is a holding company, which engages in providing team collaboration and productivity software. Its software helps teams organize, discuss, and complete shared work. Its products include Jira Software, Confluence, Jira Service Management, and Trello. The company was founded by Michael Cannon-Brookes and Scott Farquhar in October 2002 and is headquartered in San Francisco, CA.