Atlassian Co. (NASDAQ:TEAM) Director Sells $1,741,168.36 in Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $219.07, for a total value of $1,741,168.36. Following the completion of the transaction, the director now owns 309,972 shares in the company, valued at approximately $67,905,566.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, October 16th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $189.96, for a total value of $1,509,802.08.
• On Monday, October 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $169.00, for a total value of $1,343,212.00.
• On Thursday, October 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $160.14, for a total value of $1,272,792.72.
• On Monday, September 9th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were 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 shares were 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 value of $1,117,011.92.

Atlassian Stock Up 1.2 %

TEAM stock opened at $221.58 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $57.62 billion, a PE ratio of -145.78 and a beta of 0.71. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $258.69. The stock has a 50-day simple moving average of $175.52 and a two-hundred day simple moving average of $171.52.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative return on equity of 23.38% and a negative net margin of 8.59%. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.07) EPS. On average, equities analysts predict that Atlassian Co. will post -0.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TEAM. Morgan Stanley lifted their target price on Atlassian from $216.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Piper Sandler lifted their target price on Atlassian from $225.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Scotiabank lifted their target price on Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. KeyCorp upgraded Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 target price on the stock in a research note on Friday, November 1st. Finally, Barclays lowered their target price on Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $243.16.

Institutional Trading of Atlassian

A number of large investors have recently modified their holdings of the business. ICICI Prudential Asset Management Co Ltd boosted its position in shares of Atlassian by 19.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 2,089 shares of the technology company’s stock valued at $332,000 after acquiring an additional 340 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in Atlassian by 24.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 1,771 shares of the technology company’s stock worth $281,000 after buying an additional 347 shares during the last quarter. Aigen Investment Management LP bought a new stake in Atlassian in the 3rd quarter worth approximately $2,232,000. Sumitomo Mitsui Trust Group Inc. lifted its position in Atlassian by 1.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 366,254 shares of the technology company’s stock worth $58,165,000 after buying an additional 6,470 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its position in Atlassian by 0.9% in the 3rd quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock worth $1,352,115,000 after buying an additional 78,454 shares during the last quarter. Institutional investors own 93.03% of the company’s stock.

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.