Insider Selling: Atlassian Co. (NASDAQ:TEAM) Director Sells 7,948 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $244.81, for a total value of $1,945,749.88. Following the completion of the transaction, the director now owns 214,596 shares of the company’s stock, valued at $52,535,246.76. The trade was a 3.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, November 11th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $244.84, for a total value of $1,945,988.32.
• On Friday, November 8th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $237.04, for a total transaction of $1,883,993.92.
• On Monday, November 4th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $219.07, for a total transaction of $1,741,168.36.
• On Wednesday, October 16th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were 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 stock was sold at an average price of $160.14, for a total transaction of $1,272,792.72.
• 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 transaction of $1,302,041.36.
• On Tuesday, September 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $163.81, for a total transaction 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.

Atlassian Stock Down 0.0 %

Shares of NASDAQ:TEAM traded down $0.08 during trading on Friday, hitting $253.89. The company’s stock had a trading volume of 257,012 shares, compared to its average volume of 1,862,468. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69. The business has a 50 day moving average price of $194.53 and a two-hundred day moving average price of $176.48. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization of $66.12 billion, a PE ratio of -167.05 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business earned ($0.07) EPS. Atlassian’s revenue for the quarter was up 21.5% on a year-over-year basis. As a group, research analysts expect that Atlassian Co. will post -0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. SkyView Investment Advisors LLC grew its stake in shares of Atlassian by 3.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 4,128 shares of the technology company’s stock worth $656,000 after purchasing an additional 122 shares during the period. Tri Ri Asset Management Corp acquired a new stake in Atlassian during the 3rd quarter valued at $2,584,000. Virtu Financial LLC purchased a new stake in Atlassian during the 3rd quarter worth about $606,000. Arete Wealth Advisors LLC acquired a new position in shares of Atlassian in the third quarter valued at approximately $269,000. Finally, Toronto Dominion Bank raised its holdings in Atlassian by 33.6% in the 3rd quarter. Toronto Dominion Bank now owns 23,034 shares of the technology company’s stock valued at $3,658,000 after acquiring an additional 5,796 shares during the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on TEAM. Piper Sandler boosted their price objective on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, November 1st. UBS Group upped their target price on Atlassian from $180.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Barclays lowered their price objective on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Morgan Stanley boosted their price target on shares of Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Raymond James increased their price objective on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and an average price target of $244.21.

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.