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

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $283.26, for a total transaction of $2,251,350.48. Following the sale, the director now directly owns 198,700 shares of the company’s stock, valued at approximately $56,283,762. This trade represents a 3.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• 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 shares were 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 transaction 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 transaction 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 shares were sold at an average price of $258.33, for a total transaction of $2,053,206.84.
• On Tuesday, December 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $269.35, for a total transaction of $2,140,793.80.
• On Monday, December 2nd, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $265.96, for a total transaction of $2,113,850.08.

Atlassian Trading Up 0.1 %

Shares of Atlassian stock opened at $284.26 on Wednesday. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00. The stock’s 50-day simple moving average is $273.10 and its 200 day simple moving average is $224.90. The stock has a market capitalization of $74.48 billion, a P/E ratio of -212.13 and a beta of 0.87. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. As a group, research analysts anticipate that Atlassian Co. will post -0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TEAM shares. Scotiabank lifted their price objective on shares of Atlassian from $250.00 to $330.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Morgan Stanley lifted their price objective on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Robert W. Baird lifted their price objective on shares of Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Oppenheimer lifted their price objective on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a report on Friday, January 31st. Finally, Canaccord Genuity Group lifted their price objective on shares of Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, Atlassian presently has an average rating of “Moderate Buy” and an average price target of $319.71.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Murphy & Mullick Capital Management Corp purchased a new position in Atlassian during the 4th quarter valued at about $27,000. Colonial Trust Co SC grew its holdings in Atlassian by 100.0% during the 4th quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock valued at $34,000 after buying an additional 69 shares in the last quarter. True Wealth Design LLC grew its holdings in Atlassian by 23,100.0% during the 3rd quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after buying an additional 231 shares in the last quarter. Summit Securities Group LLC purchased a new position in Atlassian during the 4th quarter valued at about $38,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in Atlassian during the 4th quarter valued at about $39,000. 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.