Atlassian Co. (NASDAQ:TEAM) CEO Sells $1,593,397.35 in Stock

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 8,241 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $193.35, for a total value of $1,593,397.35. Following the completion of the sale, the chief executive officer now directly owns 382,932 shares in the company, valued at approximately $74,039,902.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Friday, April 12th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $207.36, for a total value of $1,708,853.76.
• On Thursday, March 28th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $194.67, for a total value of $1,604,275.47.
• On Friday, March 22nd, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $192.73, for a total value of $1,588,287.93.
• On Monday, March 18th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $197.25, for a total value of $1,625,537.25.
• On Monday, March 11th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $214.32, for a total value of $1,766,211.12.
• On Friday, March 1st, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $207.85, for a total value of $1,712,891.85.
• On Monday, February 26th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $204.79, for a total value of $1,687,674.39.
• On Tuesday, February 20th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $204.63, for a total value of $1,686,355.83.
• On Monday, February 12th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $218.32, for a total value of $1,799,175.12.
• On Wednesday, January 31st, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $251.76, for a total value of $2,074,754.16.

Atlassian Trading Up 2.7 %

Shares of NASDAQ TEAM traded up $5.17 during midday trading on Tuesday, reaching $199.44. 956,020 shares of the company were exchanged, compared to its average volume of 1,694,427. The stock’s 50-day moving average price is $201.39 and its 200-day moving average price is $206.80. Atlassian Co. has a one year low of $128.02 and a one year high of $258.69. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.07 and a current ratio of 1.07.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, February 1st. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.24). Atlassian had a negative net margin of 9.87% and a negative return on equity of 34.56%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. As a group, research analysts predict that Atlassian Co. will post -0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TEAM. William Blair restated an “outperform” rating on shares of Atlassian in a research note on Friday, February 2nd. Mizuho lowered their target price on Atlassian from $265.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, April 15th. StockNews.com downgraded Atlassian from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. The Goldman Sachs Group boosted their target price on Atlassian from $188.00 to $215.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Finally, Wells Fargo & Company boosted their target price on Atlassian from $275.00 to $285.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $224.25.

Institutional Investors Weigh In On Atlassian

A number of institutional investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. grew its position in shares of Atlassian by 20.7% during the 4th quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after acquiring an additional 1,511,318 shares during the period. Morgan Stanley lifted its stake in Atlassian by 156.8% in the 3rd quarter. Morgan Stanley now owns 1,793,700 shares of the technology company’s stock worth $361,449,000 after purchasing an additional 1,095,297 shares in the last quarter. Norges Bank purchased a new stake in Atlassian in the 4th quarter worth approximately $247,740,000. Vanguard Group Inc. lifted its stake in Atlassian by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 15,355,652 shares of the technology company’s stock worth $3,652,495,000 after purchasing an additional 504,181 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Atlassian by 3.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,237,507 shares of the technology company’s stock worth $2,435,095,000 after purchasing an additional 326,673 shares in the last quarter. 93.03% of the stock is owned by institutional investors.

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.