Atlassian Corporation PLC (NASDAQ:TEAM) Director Sells $1,472,139.90 in Stock

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the firm’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $192.06, for a total value of $1,472,139.90. Following the completion of the transaction, the director owned 421,575 shares of the company’s stock, valued at $80,967,694.50. This trade represents a 1.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, July 16th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $189.37, for a total value of $1,451,521.05.
• On Friday, July 11th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.64, for a total value of $1,476,585.60.
• On Wednesday, July 9th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $219.98, for a total transaction of $1,686,146.70.
• On Monday, July 7th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $214.49, for a total transaction of $1,644,065.85.
• On Thursday, July 3rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $213.97, for a total transaction of $1,640,080.05.
• 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 Friday, June 27th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $203.66, for a total transaction of $1,561,053.90.
• 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 shares were 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 shares were sold at an average price of $192.44, for a total transaction of $1,475,052.60.

Atlassian Price Performance

Shares of Atlassian stock opened at $190.62 on Friday. The stock has a market cap of $50.04 billion, a price-to-earnings ratio of -114.83 and a beta of 0.94. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a 50 day moving average price of $206.58 and a 200-day moving average price of $232.29. Atlassian Corporation PLC has a one year low of $135.29 and a one year high of $326.00.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Piper Sandler reissued an “overweight” rating and set a $300.00 target price (down previously from $365.00) on shares of Atlassian in a research report on Friday, May 2nd. Mizuho dropped their target price on shares of Atlassian from $290.00 to $265.00 and set an “outperform” rating for the company in a research report on Wednesday. Wells Fargo & Company lowered their price objective on shares of Atlassian from $330.00 to $315.00 and set an “overweight” rating for the company in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Sunday, June 22nd. Finally, Jefferies Financial Group cut their price target on shares of Atlassian from $330.00 to $262.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Five equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $279.81.

Institutional Trading of Atlassian

Several large investors have recently added to or reduced their stakes in TEAM. Clean Yield Group boosted its stake in shares of Atlassian by 372.0% in the first quarter. Clean Yield Group now owns 118 shares of the technology company’s stock worth $25,000 after buying an additional 93 shares during the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Atlassian in the fourth quarter valued at approximately $27,000. Colonial Trust Co SC grew its position in 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 acquiring an additional 69 shares during the period. Smithfield Trust Co grew its position in Atlassian by 90.7% in the first quarter. Smithfield Trust Co now owns 164 shares of the technology company’s stock worth $34,000 after acquiring an additional 78 shares during the period. Finally, Summit Securities Group LLC purchased a new position in shares of Atlassian during the fourth quarter worth $38,000. Hedge funds and other institutional investors own 94.45% 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.