Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,309,909.88 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 7,948 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $164.81, for a total value of $1,309,909.88. Following the transaction, the chief executive officer now owns 182,804 shares in the company, valued at approximately $30,127,927.24. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Wednesday, August 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $140.54, for a total transaction of $1,117,011.92.
• On Monday, August 5th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $143.54, for a total transaction of $1,140,855.92.
• On Monday, July 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $178.96, for a total transaction of $1,422,374.08.
• On Friday, July 19th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $175.91, for a total value of $1,398,132.68.
• On Friday, July 12th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $181.21, for a total value of $1,440,257.08.
• On Friday, July 5th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $186.48, for a total value of $1,482,143.04.
• On Wednesday, July 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $182.62, for a total value of $1,451,463.76.
• On Monday, July 1st, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $177.25, for a total transaction of $1,408,783.00.
• On Friday, June 28th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $176.05, for a total transaction of $1,399,245.40.
• On Thursday, June 20th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $156.59, for a total transaction of $1,244,577.32.

Atlassian Price Performance

TEAM opened at $165.60 on Friday. The stock’s 50-day moving average price is $166.33 and its 200 day moving average price is $180.21. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $258.69. The firm has a market cap of $43.06 billion, a price-to-earnings ratio of -262.86 and a beta of 0.74. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.07. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The business’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.21) earnings per share. As a group, sell-side analysts expect that Atlassian Co. will post -0.57 earnings per share for the current year.

Hedge Funds Weigh In On Atlassian

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Atlassian by 1.4% in the first quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock valued at $3,039,287,000 after acquiring an additional 221,650 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Atlassian by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after purchasing an additional 904,138 shares in the last quarter. Brown Advisory Inc. boosted its stake in shares of Atlassian by 7.9% in the 4th quarter. Brown Advisory Inc. now owns 3,473,105 shares of the technology company’s stock valued at $826,113,000 after buying an additional 255,653 shares during the period. Dragoneer Investment Group LLC purchased a new position in shares of Atlassian in the 2nd quarter valued at about $469,803,000. Finally, Capital International Investors grew its position in shares of Atlassian by 6.3% during the first quarter. Capital International Investors now owns 2,436,567 shares of the technology company’s stock worth $475,399,000 after buying an additional 144,117 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

Analysts Set New Price Targets

TEAM has been the subject of several recent research reports. Capital One Financial raised Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target for the company in a report on Thursday, July 11th. Oppenheimer cut their target price on Atlassian from $250.00 to $230.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Piper Sandler raised shares of Atlassian from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $200.00 to $225.00 in a report on Tuesday, July 2nd. JMP Securities raised shares of Atlassian to a “hold” rating in a research note on Friday, August 2nd. Finally, Barclays decreased their target price on shares of Atlassian from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $217.69.

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.