Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,482,143.04 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Friday, July 5th. The stock was sold at an average price of $186.48, for a total transaction of $1,482,143.04. Following the completion of the transaction, the chief executive officer now directly owns 476,880 shares of the company’s stock, valued at $88,928,582.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Wednesday, July 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $182.62, for a total value of $1,451,463.76.
• On Monday, July 1st, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $177.25, for a total value of $1,408,783.00.
• On Friday, June 28th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $176.05, for a total value of $1,399,245.40.
• On Thursday, June 20th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $156.59, for a total transaction of $1,244,577.32.
• On Tuesday, June 18th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $153.84, for a total transaction of $1,222,720.32.
• On Friday, June 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $162.61, for a total transaction of $1,292,424.28.
• On Monday, June 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $162.20, for a total transaction of $1,289,165.60.
• On Wednesday, June 5th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $157.52, for a total value of $1,298,122.32.
• On Thursday, May 30th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $161.00, for a total value of $1,326,801.00.
• On Friday, May 24th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $170.05, for a total value of $1,401,382.05.

Atlassian Stock Down 2.0 %

Shares of Atlassian stock opened at $174.45 on Thursday. The company’s 50 day moving average price is $171.32 and its 200-day moving average price is $198.70. Atlassian Co. has a 52-week low of $152.34 and a 52-week high of $258.69. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market capitalization of $45.41 billion, a price-to-earnings ratio of -276.90 and a beta of 0.74.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The company’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.40) earnings per share. Equities research analysts forecast that Atlassian Co. will post -0.21 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Truist Financial lowered their target price on shares of Atlassian from $220.00 to $200.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Oppenheimer dropped their price objective on shares of Atlassian from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, April 26th. KeyCorp assumed coverage on Atlassian in a research note on Tuesday, March 19th. They issued a “sector weight” rating on the stock. Wells Fargo & Company cut their price objective on Atlassian from $285.00 to $250.00 and set an “overweight” rating for the company in a report on Friday, June 21st. Finally, Robert W. Baird reduced their price objective on Atlassian from $270.00 to $230.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Eight 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, the company has an average rating of “Moderate Buy” and an average price target of $226.94.

Institutional Investors Weigh In On Atlassian

Institutional investors and hedge funds have recently bought and sold shares of the business. Graypoint LLC lifted its stake in Atlassian by 2.4% in the fourth quarter. Graypoint LLC now owns 1,784 shares of the technology company’s stock worth $424,000 after acquiring an additional 42 shares during the period. Legacy Wealth Asset Management LLC lifted its position in shares of Atlassian by 1.4% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 3,095 shares of the technology company’s stock worth $736,000 after purchasing an additional 43 shares during the period. Park National Corp OH boosted its stake in shares of Atlassian by 3.5% during the 4th quarter. Park National Corp OH now owns 1,439 shares of the technology company’s stock valued at $342,000 after purchasing an additional 48 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Atlassian by 1.5% during the first quarter. First Trust Direct Indexing L.P. now owns 3,693 shares of the technology company’s stock valued at $721,000 after buying an additional 55 shares during the period. Finally, UMB Bank n.a. raised its stake in Atlassian by 5.7% in the fourth quarter. UMB Bank n.a. now owns 1,041 shares of the technology company’s stock worth $248,000 after buying an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 93.03% 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.