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

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $253.01, for a total transaction of $2,010,923.48. Following the completion of the sale, the director now owns 389,452 shares in the company, valued at $98,535,250.52. This represents a 2.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Wednesday, December 18th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was 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 value of $2,113,850.08.
• On Monday, November 25th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $264.20, for a total value of $2,099,861.60.
• On Wednesday, November 20th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $244.81, for a total value of $1,945,749.88.
• On Monday, November 11th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $244.84, for a total transaction of $1,945,988.32.
• On Friday, November 8th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $237.04, for a total transaction of $1,883,993.92.
• On Monday, November 4th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $219.07, for a total transaction of $1,741,168.36.

Atlassian Stock Down 0.7 %

Shares of Atlassian stock opened at $252.36 on Friday. The company has a 50-day simple moving average of $256.36 and a two-hundred day simple moving average of $201.95. Atlassian Co. has a one year low of $135.29 and a one year high of $287.97. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.96.

Atlassian (NASDAQ:TEAM) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.64 by $0.13. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative net margin of 8.59% and a negative return on equity of 23.35%. Atlassian’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.07) EPS. On average, equities research analysts forecast that Atlassian Co. will post -0.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TEAM. Oppenheimer boosted their target price on Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Jefferies Financial Group boosted their price objective on Atlassian from $280.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Truist Financial upgraded Atlassian from a “hold” rating to a “buy” rating and increased their target price for the stock from $250.00 to $300.00 in a research note on Tuesday, January 7th. Wells Fargo & Company upped their price target on shares of Atlassian from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Macquarie began coverage on shares of Atlassian in a report on Thursday, December 12th. They set a “neutral” rating and a $290.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $272.00.

Institutional Trading of Atlassian

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Donoghue Forlines LLC grew its stake in Atlassian by 176.0% during the 4th quarter. Donoghue Forlines LLC now owns 7,779 shares of the technology company’s stock worth $1,893,000 after buying an additional 4,961 shares during the last quarter. Avior Wealth Management LLC grew its stake in shares of Atlassian by 66.8% during the fourth quarter. Avior Wealth Management LLC now owns 507 shares of the technology company’s stock worth $123,000 after acquiring an additional 203 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Atlassian by 3,951.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 149,690 shares of the technology company’s stock valued at $36,432,000 after acquiring an additional 145,995 shares in the last quarter. Genesis Private Wealth LLC purchased a new position in shares of Atlassian in the 4th quarter valued at approximately $206,000. Finally, Sheets Smith Wealth Management acquired a new stake in Atlassian in the 4th quarter worth approximately $706,000. 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.