Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar Sells 7,665 Shares

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the company’s stock in a transaction on Friday, June 27th. The stock was sold at an average price of $203.66, for a total transaction of $1,561,053.90. Following the completion of the transaction, the director owned 7,665 shares of the company’s stock, valued at $1,561,053.90. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Monday, June 30th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $203.16, for a total transaction of $1,557,221.40.
• On Wednesday, June 25th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $199.71, for a total transaction of $1,530,777.15.
• On Monday, June 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.68, for a total transaction of $1,476,892.20.
• On Friday, June 20th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.44, for a total transaction of $1,475,052.60.
• On Wednesday, June 18th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $196.44, for a total transaction of $1,505,712.60.
• On Monday, June 16th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $200.68, for a total transaction of $1,538,212.20.
• On Thursday, June 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $199.55, for a total transaction of $1,529,550.75.
• On Monday, June 9th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $215.23, for a total transaction of $1,649,737.95.
• On Friday, June 6th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $216.09, for a total transaction of $1,717,483.32.
• On Tuesday, June 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $208.43, for a total transaction of $1,656,601.64.

Atlassian Trading Down 0.4%

NASDAQ:TEAM opened at $206.78 on Thursday. The company’s 50 day moving average price is $210.12 and its 200-day moving average price is $236.38. Atlassian Corporation PLC has a 52 week low of $135.29 and a 52 week high of $326.00. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The stock has a market cap of $54.28 billion, a price-to-earnings ratio of -124.57 and a beta of 0.94.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings results on Thursday, May 1st. The technology company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.04. Atlassian had a negative net margin of 8.66% and a negative return on equity of 23.41%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the prior year, the company posted $0.89 earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities research analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TEAM shares. Macquarie lowered their price objective on shares of Atlassian from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Robert W. Baird raised shares of Atlassian from a “neutral” rating to an “outperform” rating and lowered their price objective for the company from $320.00 to $255.00 in a research note on Monday, April 14th. Wall Street Zen raised shares of Atlassian from a “hold” rating to a “buy” rating in a research note on Sunday, June 22nd. Morgan Stanley lowered their price objective on shares of Atlassian from $370.00 to $320.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Finally, Mizuho lowered their price objective on shares of Atlassian from $325.00 to $290.00 and set an “outperform” rating for the company in a research note on Thursday, June 12th. Four equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and a consensus target price of $282.19.

Institutional Investors Weigh In On Atlassian

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Atlassian by 3.5% during the first quarter. Vanguard Group Inc. now owns 16,993,537 shares of the technology company’s stock valued at $3,606,198,000 after buying an additional 580,583 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of Atlassian by 7.1% during the first quarter. Baillie Gifford & Co. now owns 8,694,755 shares of the technology company’s stock valued at $1,845,114,000 after buying an additional 573,696 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Atlassian by 72.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock valued at $1,042,737,000 after buying an additional 1,806,042 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Atlassian by 21.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 3,440,813 shares of the technology company’s stock valued at $730,175,000 after purchasing an additional 616,071 shares during the period. Finally, Voya Investment Management LLC lifted its position in Atlassian by 24.1% during the first quarter. Voya Investment Management LLC now owns 2,695,889 shares of the technology company’s stock valued at $571,894,000 after purchasing an additional 523,035 shares during the period. Hedge funds and other institutional investors own 94.45% of the company’s stock.

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.