Scott Farquhar Sells 7,665 Shares of Atlassian Corporation PLC (NASDAQ:TEAM) Stock

Atlassian Corporation PLC (NASDAQ:TEAM) Director Scott Farquhar sold 7,665 shares of the company’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $163.51, for a total value of $1,253,304.15. Following the completion of the transaction, the director owned 268,275 shares of the company’s stock, valued at $43,865,645.25. The trade was a 2.78% decrease in their ownership of the stock. 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, August 8th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $171.03, for a total value of $1,310,944.95.
• On Wednesday, August 6th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $185.81, for a total value of $1,424,233.65.
• On Monday, August 4th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $185.43, for a total value of $1,421,320.95.
• On Friday, August 1st, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $184.43, for a total value of $1,413,655.95.
• On Wednesday, July 30th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $197.88, for a total value of $1,516,750.20.
• On Monday, July 28th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $202.05, for a total value of $1,548,713.25.
• On Friday, July 25th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $202.55, for a total value of $1,552,545.75.
• On Wednesday, July 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $202.78, for a total value of $1,554,308.70.
• On Monday, July 21st, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $194.98, for a total value of $1,494,521.70.
• On Friday, July 18th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $192.82, for a total value of $1,477,965.30.

Atlassian Price Performance

Shares of TEAM opened at $163.99 on Thursday. The firm has a market cap of $43.05 billion, a price-to-earnings ratio of -165.64 and a beta of 0.96. The stock has a 50 day moving average of $196.47 and a 200-day moving average of $223.95. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. Atlassian Corporation PLC has a 52 week low of $142.32 and a 52 week high of $326.00.

Atlassian (NASDAQ:TEAM) last issued its earnings results on Thursday, August 7th. The technology company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.83 by $0.15. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.36 billion. Atlassian had a negative return on equity of 15.19% and a negative net margin of 4.92%. The business’s revenue was up 22.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 EPS. As a group, analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wall Street Zen upgraded Atlassian from a “hold” rating to a “buy” rating in a research note on Sunday, June 22nd. Mizuho lowered their target price on Atlassian from $265.00 to $235.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. UBS Group reiterated a “hold” rating on shares of Atlassian in a research note on Monday, July 7th. BMO Capital Markets lowered their target price on Atlassian from $225.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Finally, Canaccord Genuity Group lowered their target price on Atlassian from $255.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $259.76.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its position in shares of Atlassian by 37.7% in the 1st quarter. Farther Finance Advisors LLC now owns 369 shares of the technology company’s stock worth $80,000 after acquiring an additional 101 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Atlassian by 42.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,240 shares of the technology company’s stock worth $900,000 after purchasing an additional 1,259 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Atlassian by 350.1% in the 1st quarter. Principal Financial Group Inc. now owns 51,900 shares of the technology company’s stock worth $11,014,000 after purchasing an additional 40,369 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Atlassian by 47,387.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,799 shares of the technology company’s stock worth $822,000 after purchasing an additional 3,791 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of Atlassian by 6.1% in the 1st quarter. Amalgamated Bank now owns 11,360 shares of the technology company’s stock worth $2,411,000 after purchasing an additional 650 shares during the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

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.