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

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $283.26, for a total value of $2,251,350.48. Following the transaction, the director now directly owns 198,700 shares of the company’s stock, valued at $56,283,762. The trade was a 3.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Friday, February 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $315.69, for a total value of $2,509,104.12.
• On Friday, January 31st, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $308.86, for a total value of $2,454,819.28.
• On Wednesday, January 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $270.63, for a total value of $2,150,967.24.
• On Tuesday, January 21st, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $255.71, for a total value of $2,032,383.08.
• 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 value 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 value 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 value 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.

Atlassian Price Performance

TEAM opened at $284.26 on Wednesday. The stock has a fifty day simple moving average of $273.10 and a two-hundred day simple moving average of $224.90. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.81. The company has a market cap of $74.48 billion, a price-to-earnings ratio of -212.13 and a beta of 0.87. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00.

Atlassian (NASDAQ:TEAM) last posted 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 return on equity of 17.37% and a negative net margin of 7.22%. Research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlassian

A number of institutional investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. raised its holdings in Atlassian by 0.9% in the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company’s stock worth $1,352,115,000 after purchasing an additional 78,454 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company’s stock worth $1,042,737,000 after acquiring an additional 1,806,042 shares during the last quarter. State Street Corp grew its stake in shares of Atlassian by 0.3% in the third quarter. State Street Corp now owns 3,560,381 shares of the technology company’s stock worth $565,424,000 after acquiring an additional 8,957 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Atlassian in the fourth quarter worth $687,486,000. Finally, Invesco Ltd. grew its stake in shares of Atlassian by 265.9% in the fourth quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company’s stock worth $595,171,000 after acquiring an additional 1,777,179 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TEAM shares. Robert W. Baird upped their target price on Atlassian from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Jefferies Financial Group upped their target price on Atlassian from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Wells Fargo & Company boosted their price objective on Atlassian from $350.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Macquarie boosted their price objective on Atlassian from $290.00 to $317.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, Canaccord Genuity Group boosted their price objective on Atlassian from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Eight analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $319.71.

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.