Atlassian Co. (NASDAQ:TEAM) Director Sells $1,945,749.88 in Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $244.81, for a total value of $1,945,749.88. Following the sale, the director now directly owns 214,596 shares of the company’s stock, valued at approximately $52,535,246.76. This trade represents a 3.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 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 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 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 transaction 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 transaction of $1,309,909.88.

Atlassian Trading Up 2.6 %

Shares of NASDAQ:TEAM opened at $260.58 on Friday. The company has a market capitalization of $67.86 billion, a PE ratio of -171.43 and a beta of 0.71. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $262.00. The business has a 50 day moving average of $194.53 and a two-hundred day moving average of $176.48. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

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 net margin of 8.59% and a negative return on equity of 23.35%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm posted ($0.07) earnings per share. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. As a group, analysts forecast that Atlassian Co. will post -0.56 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on TEAM shares. UBS Group raised their target price 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. JMP Securities raised Atlassian to a “hold” rating in a research report on Friday, August 2nd. Mizuho upped their target price on Atlassian from $200.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Canaccord Genuity Group raised their price target on Atlassian from $225.00 to $255.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group upgraded shares of Atlassian from a “neutral” rating to a “buy” rating and upped their price objective for the company from $200.00 to $230.00 in a report on Friday, August 2nd. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.21.

Institutional Investors Weigh In On Atlassian

A number of institutional investors have recently modified their holdings of TEAM. O Shaughnessy Asset Management LLC grew its holdings in Atlassian by 33.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,204 shares of the technology company’s stock valued at $820,000 after purchasing an additional 1,062 shares during the period. UniSuper Management Pty Ltd increased its holdings in Atlassian by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 2,200 shares of the technology company’s stock worth $429,000 after acquiring an additional 1,100 shares in the last quarter. Crewe Advisors LLC acquired a new position in Atlassian during the first quarter worth $43,000. Capital International Investors lifted its holdings in Atlassian by 6.3% during the first quarter. Capital International Investors now owns 2,436,567 shares of the technology company’s stock valued at $475,399,000 after purchasing an additional 144,117 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of Atlassian by 33.1% in the first quarter. Canada Pension Plan Investment Board now owns 158,180 shares of the technology company’s stock valued at $30,862,000 after purchasing an additional 39,380 shares during the period. 93.03% of the stock is currently owned by institutional investors and hedge funds.

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.