Scott Farquhar Sells 7,948 Shares of Atlassian Co. (NASDAQ:TEAM) Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $264.20, for a total value of $2,099,861.60. Following the sale, the director now owns 190,752 shares of the company’s stock, valued at approximately $50,396,678.40. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, November 20th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $244.81, for a total value of $1,945,749.88.
• 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 stock was 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 transaction of $1,509,802.08.
• On Monday, October 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was 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 stock was 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.

Atlassian Stock Up 0.1 %

NASDAQ TEAM opened at $262.46 on Friday. The stock’s 50 day simple moving average is $204.55 and its 200 day simple moving average is $179.29. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18. Atlassian Co. has a one year low of $135.29 and a one year high of $269.40. The firm has a market cap of $68.35 billion, a PE ratio of -172.67 and a beta of 0.71.

Atlassian (NASDAQ:TEAM) last announced 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 company 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 23.35% and a negative net margin of 8.59%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period last year, the company posted ($0.07) earnings per share. As a group, sell-side analysts forecast that Atlassian Co. will post -0.54 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TEAM has been the topic of a number of research reports. The Goldman Sachs Group raised shares of Atlassian from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $200.00 to $230.00 in a research report on Friday, August 2nd. Raymond James upped their price objective on shares of Atlassian from $200.00 to $250.00 and gave the company an “outperform” rating in a research report 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 report on Friday, November 1st. Piper Sandler upped their price target on Atlassian from $225.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company lifted their price objective on Atlassian from $250.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Atlassian presently has an average rating of “Moderate Buy” and an average target price of $244.21.

Hedge Funds Weigh In On Atlassian

A number of institutional investors have recently modified their holdings of TEAM. Lazard Asset Management LLC increased its holdings in shares of Atlassian by 1,089.4% in the first quarter. Lazard Asset Management LLC now owns 35,764 shares of the technology company’s stock valued at $6,976,000 after purchasing an additional 32,757 shares in the last quarter. BOKF NA increased its stake in shares of Atlassian by 15.7% in the 1st quarter. BOKF NA now owns 7,047 shares of the technology company’s stock valued at $1,363,000 after buying an additional 955 shares during the period. B. Riley Wealth Advisors Inc. raised its position in shares of Atlassian by 72.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,998 shares of the technology company’s stock worth $604,000 after acquiring an additional 1,257 shares during the last quarter. Tidal Investments LLC raised its position in shares of Atlassian by 10.0% during the first quarter. Tidal Investments LLC now owns 4,085 shares of the technology company’s stock worth $797,000 after acquiring an additional 373 shares during the last quarter. Finally, SkyView Investment Advisors LLC lifted its stake in shares of Atlassian by 2.1% during the first quarter. SkyView Investment Advisors LLC now owns 3,971 shares of the technology company’s stock valued at $775,000 after acquiring an additional 80 shares during the period. 93.03% of the stock is owned by institutional investors.

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.