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

Posted by Micah Haroldson on Oct 17th, 2024

Atlassian Co. (NASDAQ:TEAM – Get Free Report) Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $189.96, for a total value of $1,509,802.08. Following the transaction, the director now owns 413,296 shares in the company, valued at $78,509,708.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

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 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 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 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.
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 value of $1,117,011.92.
On Monday, August 5th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $143.54, for a total value 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 value 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.

Atlassian Price Performance

TEAM traded down $0.80 on Thursday, reaching $188.55. The stock had a trading volume of 1,213,305 shares, compared to its average volume of 1,787,250. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $258.69. The firm has a 50-day moving average of $162.91 and a 200-day moving average of $171.79. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $49.03 billion, a price-to-earnings ratio of -161.32 and a beta of 0.73.

Atlassian (NASDAQ:TEAM – Get Free Report) last issued its earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. Atlassian had a negative return on equity of 17.69% and a negative net margin of 6.89%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter in the prior year, the firm earned ($0.21) EPS. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Atlassian Co. will post -0.58 EPS for the current year.

Institutional Investors Weigh In On Atlassian

Several institutional investors and hedge funds have recently made changes to their positions in TEAM. American International Group Inc. increased its stake in shares of Atlassian by 3.1% in the fourth quarter. American International Group Inc. now owns 10,772 shares of the technology company’s stock valued at $2,562,000 after buying an additional 328 shares during the period. HighPoint Advisor Group LLC bought a new stake in shares of Atlassian during the 4th quarter valued at about $248,000. Mather Group LLC. bought a new stake in shares of Atlassian during the 1st quarter valued at about $113,000. Banque Cantonale Vaudoise boosted its position in shares of Atlassian by 30.3% during the 1st quarter. Banque Cantonale Vaudoise now owns 12,618 shares of the technology company’s stock valued at $2,463,000 after purchasing an additional 2,937 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its position in shares of Atlassian by 4.4% during the 1st quarter. Park Avenue Securities LLC now owns 13,100 shares of the technology company’s stock valued at $2,556,000 after purchasing an additional 551 shares in the last quarter. Institutional investors and hedge funds own 93.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Capital One Financial upgraded Atlassian from an “equal weight” rating to an “overweight” rating and set a $211.00 price target for the company in a research note on Thursday, July 11th. Truist Financial reduced their price target on Atlassian from $200.00 to $160.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Raymond James upgraded Atlassian from a “market perform” rating to an “outperform” rating and set a $200.00 price target for the company in a research note on Tuesday, October 1st. Finally, Robert W. Baird downgraded Atlassian from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $230.00 to $175.00 in a research note on Friday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Atlassian currently has a consensus rating of “Moderate Buy” and an average price target of $215.12.

Check Out Our Latest Report on Atlassian

About Atlassian

(Get Free Report)

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.