Atlassian Co. (NASDAQ:TEAM) Director Sells $2,032,383.08 in Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $255.71, for a total transaction of $2,032,383.08. Following the completion of the sale, the director now owns 381,504 shares in the company, valued at $97,554,387.84. This represents a 2.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Friday, January 17th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was 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 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 stock was 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 shares were sold at an average price of $265.96, for a total transaction 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 transaction 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 transaction of $1,945,749.88.
• On Monday, November 11th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were 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 shares were sold at an average price of $219.07, for a total transaction of $1,741,168.36.

Atlassian Trading Down 0.3 %

Shares of NASDAQ TEAM opened at $264.81 on Friday. The company’s 50 day simple moving average is $257.68 and its 200 day simple moving average is $204.62. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $287.97. The firm has a market capitalization of $68.96 billion, a P/E ratio of -174.22 and a beta of 0.83. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.18 and a quick ratio of 1.18.

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

Wall Street Analysts Forecast Growth

TEAM has been the subject of several analyst reports. Wells Fargo & Company lifted their price target on shares of Atlassian from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Jefferies Financial Group lifted their price target on shares of Atlassian from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday. Piper Sandler lifted their price target on shares of Atlassian from $265.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Robert W. Baird lifted their price target on shares of Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Citigroup lifted their price target on shares of Atlassian from $255.00 to $300.00 and gave the company a “buy” rating in a report on Friday, January 17th. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $273.19.

Hedge Funds Weigh In On Atlassian

Several large investors have recently bought and sold shares of the business. Federated Hermes Inc. acquired a new stake in Atlassian in the second quarter worth $444,000. Dimensional Fund Advisors LP raised its holdings in Atlassian by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 150,393 shares of the technology company’s stock worth $26,597,000 after purchasing an additional 5,878 shares during the period. Amalgamated Bank raised its holdings in Atlassian by 3.5% in the second quarter. Amalgamated Bank now owns 10,608 shares of the technology company’s stock worth $1,876,000 after purchasing an additional 363 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in Atlassian by 17.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,403 shares of the technology company’s stock worth $248,000 after purchasing an additional 205 shares during the period. Finally, AE Wealth Management LLC raised its holdings in Atlassian by 1.4% in the second quarter. AE Wealth Management LLC now owns 12,738 shares of the technology company’s stock worth $2,253,000 after purchasing an additional 174 shares during the period. 94.45% of the stock is currently owned by institutional investors and hedge funds.

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.