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

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on 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 of the company’s stock, valued at $25,995,921. This trade represents a 6.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 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 transaction 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 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 shares were sold at an average price of $308.86, for a total value 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 stock was 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 shares were 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 value of $2,053,206.84.

Atlassian Trading Up 3.8 %

Shares of TEAM stock traded up $8.21 during mid-day trading on Tuesday, hitting $224.10. 3,751,791 shares of the company’s stock were exchanged, compared to its average volume of 1,921,398. The stock has a market cap of $58.71 billion, a price-to-earnings ratio of -167.24 and a beta of 0.91. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The stock has a 50-day simple moving average of $275.49 and a two-hundred day simple moving average of $233.12.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. Equities analysts expect that Atlassian Co. will post -0.34 EPS for the current fiscal year.

Analyst Ratings Changes

TEAM has been the topic of a number of recent research reports. The Goldman Sachs Group lifted their target price on shares of Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a report on Monday, February 3rd. Citigroup increased their target price on shares of Atlassian from $255.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Truist Financial reaffirmed a “buy” rating and set a $350.00 price objective (up from $300.00) on shares of Atlassian in a research note on Friday, January 31st. Wells Fargo & Company boosted their target price on Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Cantor Fitzgerald lifted their price objective on shares of Atlassian from $264.00 to $304.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and an average price target of $319.71.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Murphy & Mullick Capital Management Corp bought a new position in shares of Atlassian in the fourth quarter valued at approximately $27,000. Colonial Trust Co SC boosted its position in shares of Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock worth $34,000 after buying an additional 69 shares during the period. True Wealth Design LLC boosted its position in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock worth $37,000 after acquiring an additional 231 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Atlassian during the 4th quarter valued at $38,000. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Atlassian in the 4th quarter worth about $39,000. 94.45% of the stock is currently owned by institutional investors.

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.