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

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $229.64, for a total value of $1,825,178.72. Following the completion of the sale, the director now directly owns 23,844 shares in the company, valued at approximately $5,475,536.16. The trade was a 25.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Monday, March 24th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $234.38, for a total transaction of $1,862,852.24.
• On Monday, March 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $218.05, for a total value of $1,733,061.40.
• 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 value of $2,214,392.28.
• On Wednesday, February 26th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $289.77, for a total value of $2,303,091.96.
• On Monday, February 24th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were 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 shares were 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 shares were sold at an average price of $270.63, for a total value of $2,150,967.24.
• On Tuesday, January 21st, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.71, for a total value 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.

Atlassian Stock Performance

Shares of NASDAQ:TEAM traded down $7.01 on Thursday, hitting $222.64. The company’s stock had a trading volume of 1,755,098 shares, compared to its average volume of 1,936,555. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The stock’s 50-day moving average is $270.60 and its two-hundred day moving average is $237.80. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $58.33 billion, a price-to-earnings ratio of -166.15 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results 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 forecast that Atlassian Co. will post -0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

TEAM has been the subject of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of Atlassian from $350.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Stephens assumed coverage on Atlassian in a report on Wednesday, March 19th. They issued an “equal weight” rating and a $255.00 price objective for the company. UBS Group increased their target price on Atlassian from $275.00 to $330.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Citigroup boosted their price target on Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a report on Friday, January 17th. Finally, StockNews.com upgraded Atlassian from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Nine research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $316.77.

Institutional Trading of Atlassian

A number of hedge funds and other institutional investors have recently modified their holdings of TEAM. 111 Capital acquired a new position in Atlassian during the fourth quarter worth about $465,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Atlassian by 62.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,567 shares of the technology company’s stock valued at $3,059,000 after purchasing an additional 4,837 shares in the last quarter. Siemens Fonds Invest GmbH grew its stake in shares of Atlassian by 16.8% in the 4th quarter. Siemens Fonds Invest GmbH now owns 2,011 shares of the technology company’s stock worth $489,000 after purchasing an additional 289 shares during the last quarter. Menard Financial Group LLC acquired a new position in shares of Atlassian in the 4th quarter worth approximately $810,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Atlassian in the 4th quarter worth approximately $25,279,000. Institutional investors own 94.45% of the company’s stock.

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.