Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,244,577.32 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $156.59, for a total transaction of $1,244,577.32. Following the completion of the transaction, the chief executive officer now owns 47,688 shares of the company’s stock, valued at approximately $7,467,463.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, June 18th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $153.84, for a total transaction of $1,222,720.32.
• On Friday, June 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $162.61, for a total transaction of $1,292,424.28.
• On Monday, June 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $162.20, for a total transaction of $1,289,165.60.
• On Wednesday, June 5th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $157.52, for a total transaction of $1,298,122.32.
• On Thursday, May 30th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $161.00, for a total transaction of $1,326,801.00.
• On Friday, May 24th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $170.05, for a total transaction of $1,401,382.05.
• On Friday, May 17th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $181.34, for a total transaction of $1,494,422.94.
• On Friday, May 3rd, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $183.51, for a total transaction of $1,512,305.91.
• On Monday, April 29th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $177.14, for a total transaction of $1,459,810.74.
• On Wednesday, April 24th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $199.71, for a total transaction of $1,645,810.11.

Atlassian Stock Performance

NASDAQ:TEAM opened at $171.66 on Thursday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.82. Atlassian Co. has a fifty-two week low of $152.34 and a fifty-two week high of $258.69. The stock has a market cap of $44.68 billion, a PE ratio of -272.48 and a beta of 0.73. The firm’s fifty day simple moving average is $172.95 and its 200-day simple moving average is $201.89.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings data on Thursday, April 25th. The technology company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the firm earned ($0.40) EPS. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. Analysts expect that Atlassian Co. will post -0.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TEAM shares. Wells Fargo & Company cut their target price on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. Canaccord Genuity Group dropped their price objective on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. TD Cowen dropped their price objective on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Piper Sandler dropped their price objective on shares of Atlassian from $225.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Finally, StockNews.com raised shares of Atlassian from a “hold” rating to a “buy” rating in a research note on Friday, June 7th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and an average price target of $221.28.

Institutional Investors Weigh In On Atlassian

Several institutional investors and hedge funds have recently made changes to their positions in TEAM. Baillie Gifford & Co. boosted its position in shares of Atlassian by 20.7% in the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock worth $2,094,980,000 after buying an additional 1,511,318 shares in the last quarter. Morgan Stanley boosted its position in shares of Atlassian by 156.8% in the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock worth $361,449,000 after buying an additional 1,095,297 shares in the last quarter. Norges Bank purchased a new stake in shares of Atlassian in the 4th quarter worth about $247,740,000. Price T Rowe Associates Inc. MD boosted its position in shares of Atlassian by 8.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock worth $2,173,847,000 after buying an additional 904,138 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Atlassian by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after buying an additional 504,181 shares in the last quarter. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

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.