Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar Sells 8,241 Shares

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $193.35, for a total value of $1,593,397.35. Following the sale, the chief executive officer now directly owns 382,932 shares of the company’s stock, valued at $74,039,902.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Friday, April 12th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $207.36, for a total value of $1,708,853.76.
• On Thursday, March 28th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $194.67, for a total value of $1,604,275.47.
• On Friday, March 22nd, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $192.73, for a total value of $1,588,287.93.
• On Monday, March 18th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.25, for a total value of $1,625,537.25.
• On Monday, March 11th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $214.32, for a total value of $1,766,211.12.
• On Friday, March 1st, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $207.85, for a total value of $1,712,891.85.
• On Monday, February 26th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $204.79, for a total value of $1,687,674.39.
• On Tuesday, February 20th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $204.63, for a total value of $1,686,355.83.
• On Monday, February 12th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $218.32, for a total value of $1,799,175.12.
• On Wednesday, January 31st, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $251.76, for a total value of $2,074,754.16.

Atlassian Price Performance

NASDAQ:TEAM opened at $199.01 on Thursday. The firm has a market capitalization of $51.62 billion, a price-to-earnings ratio of -133.56 and a beta of 0.63. Atlassian Co. has a 52-week low of $128.02 and a 52-week high of $258.69. The stock has a fifty day moving average of $200.84 and a 200 day moving average of $206.75. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.24). The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. On average, research analysts expect that Atlassian Co. will post -0.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Atlassian

Several large investors have recently added to or reduced their stakes in the business. OFI Invest Asset Management purchased a new stake in Atlassian during the third quarter valued at about $26,000. Carmel Capital Partners LLC raised its position in Atlassian by 28.5% during the third quarter. Carmel Capital Partners LLC now owns 257 shares of the technology company’s stock valued at $52,000 after purchasing an additional 57 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in Atlassian by 271.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 371 shares of the technology company’s stock valued at $88,000 after purchasing an additional 271 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Atlassian by 255.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 405 shares of the technology company’s stock valued at $96,000 after purchasing an additional 291 shares in the last quarter. Finally, Operose Advisors LLC purchased a new stake in Atlassian during the third quarter valued at about $99,000. Institutional investors own 93.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. StockNews.com lowered Atlassian from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Truist Financial increased their price objective on Atlassian from $180.00 to $220.00 and gave the company a “hold” rating in a report on Tuesday, January 16th. UBS Group reduced their price objective on Atlassian from $260.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, February 2nd. Mizuho cut their price target on Atlassian from $265.00 to $240.00 and set a “buy” rating for the company in a report on Monday, April 15th. Finally, Citigroup cut their price target on Atlassian from $280.00 to $265.00 and set a “buy” rating for the company in a report on Friday, April 12th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $224.25.

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.