Insider Selling: Atlassian Co. (NASDAQ:TEAM) Director Sells $1,607,006.12 in Stock

Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar sold 7,948 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $202.19, for a total transaction of $1,607,006.12. Following the sale, the director now directly owns 294,076 shares in the company, valued at $59,459,226.44. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Monday, April 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $185.61, for a total value of $1,475,228.28.
• On Wednesday, March 26th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $229.64, for a total value of $1,825,178.72.
• On Monday, March 24th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $234.38, for a total transaction of $1,862,852.24.
• On Monday, March 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $218.05, for a total transaction of $1,733,061.40.
• On Friday, February 28th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $278.61, for a total transaction of $2,214,392.28.
• On Wednesday, February 26th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $289.77, for a total value of $2,303,091.96.
• On Monday, February 24th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $283.26, for a total transaction of $2,251,350.48.
• On Friday, February 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were 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 transaction of $2,454,819.28.
• On Wednesday, January 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $270.63, for a total value of $2,150,967.24.

Atlassian Stock Up 3.1 %

Shares of NASDAQ:TEAM traded up $6.26 during trading on Tuesday, reaching $207.25. 2,246,136 shares of the stock traded hands, compared to its average volume of 2,042,493. The stock has a market cap of $54.30 billion, a P/E ratio of -154.66 and a beta of 1.07. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a 50-day moving average of $248.73 and a two-hundred day moving average of $242.07. Atlassian Co. has a 52-week low of $135.29 and a 52-week high of $326.00.

Atlassian (NASDAQ:TEAM) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) 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%. As a group, sell-side analysts expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Atlassian

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new position in shares of Atlassian during the third quarter valued at approximately $606,000. Fulton Bank N.A. purchased a new stake in Atlassian during the 4th quarter valued at $447,000. Allworth Financial LP raised its stake in Atlassian by 3.1% during the 4th quarter. Allworth Financial LP now owns 1,548 shares of the technology company’s stock valued at $404,000 after buying an additional 47 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Atlassian by 20.1% during the 4th quarter. Nordea Investment Management AB now owns 30,442 shares of the technology company’s stock valued at $7,458,000 after buying an additional 5,088 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Atlassian by 61.4% in the 3rd quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company’s stock worth $1,710,000 after buying an additional 4,099 shares during the last quarter. Institutional investors own 94.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TEAM. The Goldman Sachs Group boosted their target price on Atlassian from $245.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 3rd. Stephens restated an “equal weight” rating and issued a $255.00 price objective on shares of Atlassian in a report on Monday. Jefferies Financial Group cut their target price 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. Morgan Stanley increased their price target on shares of Atlassian from $315.00 to $370.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Robert W. Baird upgraded Atlassian from a “neutral” rating to an “outperform” rating and reduced their target price for the stock from $320.00 to $255.00 in a report on Monday. Six equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Atlassian presently has a consensus rating of “Moderate Buy” and an average price target of $300.00.

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.