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 Atlassian stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $229.64, for a total transaction of $1,825,178.72. Following the completion of the sale, the director now directly owns 23,844 shares in the company, valued at $5,475,536.16. This trade represents a 25.00 % 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, 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 value of $1,862,852.24.
• On Monday, March 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $218.05, for a total value of $1,733,061.40.
• On Friday, February 28th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $278.61, for a total value of $2,214,392.28.
• On Wednesday, February 26th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $289.77, for a total transaction 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 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 transaction 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 transaction of $2,032,383.08.
• On Friday, January 17th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $253.01, for a total transaction of $2,010,923.48.

Atlassian Stock Performance

NASDAQ:TEAM opened at $217.99 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.24 and a current ratio of 1.24. Atlassian Co. has a fifty-two week low of $135.29 and a fifty-two week high of $326.00. The business has a 50 day moving average price of $269.28 and a 200-day moving average price of $238.07. The firm has a market cap of $57.11 billion, a PE ratio of -162.68 and a beta of 0.91.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings results 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%. Equities research analysts predict that Atlassian Co. will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Murphy & Mullick Capital Management Corp bought a new stake in shares of Atlassian in the 4th quarter worth approximately $27,000. Colonial Trust Co SC lifted its stake in Atlassian by 100.0% in the fourth quarter. Colonial Trust Co SC now owns 138 shares of the technology company’s stock worth $34,000 after acquiring an additional 69 shares during the period. True Wealth Design LLC boosted its holdings in Atlassian by 23,100.0% in the third quarter. True Wealth Design LLC now owns 232 shares of the technology company’s stock valued at $37,000 after acquiring an additional 231 shares in the last quarter. Summit Securities Group LLC purchased a new position in Atlassian during the 4th quarter valued at $38,000. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Atlassian in the 4th quarter worth $39,000. Hedge funds and other institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Raymond James reiterated an “outperform” rating and issued a $330.00 price objective (up previously from $250.00) on shares of Atlassian in a research report on Friday, January 31st. Mizuho raised their price target on Atlassian from $285.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, January 31st. StockNews.com upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. BMO Capital Markets upgraded shares of Atlassian from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $255.00 to $292.00 in a research report on Friday, January 10th. Finally, Oppenheimer boosted their price target on shares of Atlassian from $300.00 to $380.00 and gave the stock an “outperform” rating in a research note on Friday, January 31st. Nine investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $316.77.

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.