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, March 10th. The shares were sold at an average price of $218.05, for a total transaction of $1,733,061.40. Following the completion of the transaction, the director now owns 119,220 shares in the company, valued at approximately $25,995,921. This trade represents a 6.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Friday, February 28th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.61, for a total transaction of $2,214,392.28.
• On Wednesday, February 26th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $289.77, for a total transaction of $2,303,091.96.
• On Monday, February 24th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $283.26, for a total transaction of $2,251,350.48.
• On Friday, February 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $315.69, for a total transaction of $2,509,104.12.
• On Friday, January 31st, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $308.86, for a total transaction of $2,454,819.28.
• On Wednesday, January 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $270.63, for a total transaction of $2,150,967.24.
• On Tuesday, January 21st, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.71, for a total transaction of $2,032,383.08.
• On Friday, January 17th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $253.01, for a total transaction of $2,010,923.48.
• On Wednesday, December 18th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $258.33, for a total transaction of $2,053,206.84.

Atlassian Stock Up 3.8 %

Shares of NASDAQ:TEAM opened at $224.10 on Wednesday. The firm has a market cap of $58.71 billion, a PE ratio of -167.24 and a beta of 0.91. The company has a fifty day simple moving average of $275.10 and a 200 day simple moving average of $233.57. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative return on equity of 17.37% and a negative net margin of 7.22%. On average, equities research analysts anticipate that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Atlassian

Hedge funds and other institutional investors have recently modified their holdings of the company. Murphy & Mullick Capital Management Corp acquired a new position in shares of Atlassian during the fourth quarter valued at $27,000. Colonial Trust Co SC boosted its holdings in shares of Atlassian by 100.0% during the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after acquiring an additional 69 shares during the period. True Wealth Design LLC boosted its holdings in shares of Atlassian by 23,100.0% during the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after acquiring an additional 231 shares during the period. Summit Securities Group LLC acquired a new position in shares of Atlassian during the fourth quarter valued at $38,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Atlassian during the fourth quarter valued at $39,000. Institutional investors and hedge funds own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Oppenheimer increased their target price on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research report on Friday, January 31st. The Goldman Sachs Group increased their target price on shares of Atlassian from $245.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. JMP Securities reissued a “market perform” rating on shares of Atlassian in a research report on Friday, January 31st. Macquarie increased their target price on shares of Atlassian from $290.00 to $317.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Wednesday. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $319.71.

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.