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 dated Monday, November 11th. The shares were sold at an average price of $244.84, for a total value of $1,945,988.32. Following the transaction, the director now directly owns 270,232 shares in the company, valued at $66,163,602.88. 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 can be accessed through this link.

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

• On Friday, November 8th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $237.04, for a total value 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 value of $1,741,168.36.
• 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 stock was 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.
• On Tuesday, August 27th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $164.81, for a total value of $1,309,909.88.

Atlassian Stock Performance

TEAM traded down $0.57 during trading on Tuesday, hitting $245.28. 2,263,224 shares of the stock were exchanged, compared to its average volume of 1,855,370. The stock has a fifty day moving average price of $181.17 and a two-hundred day moving average price of $172.59. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The firm has a market capitalization of $63.88 billion, a P/E ratio of -160.04 and a beta of 0.71. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.64 by $0.13. The firm 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 business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.07) earnings per share. As a group, sell-side analysts predict that Atlassian Co. will post -0.56 earnings per share for the current year.

Institutional Investors Weigh In On Atlassian

A number of institutional investors and hedge funds have recently modified their holdings of TEAM. Financial Advocates Investment Management increased its holdings in shares of Atlassian by 1.7% during the 2nd quarter. Financial Advocates Investment Management now owns 3,745 shares of the technology company’s stock valued at $662,000 after acquiring an additional 62 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Atlassian by 1.4% during the first quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the technology company’s stock worth $890,000 after purchasing an additional 65 shares during the period. Legacy Wealth Asset Management LLC increased its position in shares of Atlassian by 2.1% during the third quarter. Legacy Wealth Asset Management LLC now owns 3,428 shares of the technology company’s stock worth $544,000 after acquiring an additional 70 shares in the last quarter. SkyView Investment Advisors LLC lifted its stake in Atlassian by 2.1% in the 1st 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 in the last quarter. Finally, Commerce Bank raised its stake in shares of Atlassian by 1.8% during the 3rd quarter. Commerce Bank now owns 4,966 shares of the technology company’s stock worth $789,000 after purchasing an additional 90 shares in the last quarter. 93.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TEAM has been the topic of several recent analyst reports. Mizuho boosted their target price on Atlassian from $200.00 to $240.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. UBS Group lifted their price objective on shares of Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Morgan Stanley upped their target price on shares of Atlassian from $216.00 to $224.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Raymond James upped their price objective on shares of Atlassian from $200.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company increased their price objective on shares of Atlassian from $250.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Atlassian has a consensus rating of “Moderate Buy” and an average price target of $243.16.

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.