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

Atlassian Co. (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,948 shares of Atlassian stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $234.38, for a total value of $1,862,852.24. Following the completion of the transaction, the director now owns 39,740 shares of the company's stock, valued at $9,314,261.20. This trade represents a 16.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Wednesday, March 26th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $229.64, for a total value of $1,825,178.72.
• 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 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 value 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 shares were 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 transaction 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 transaction of $2,010,923.48.

Atlassian Stock Down 2.1 %

Shares of TEAM traded down $4.65 during mid-day trading on Friday, hitting $217.99. 2,418,163 shares of the company's stock were exchanged, compared to its average volume of 1,976,725. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.81. Atlassian Co. has a twelve month low of $135.29 and a twelve month high of $326.00. The firm has a fifty day moving average of $269.28 and a two-hundred day moving average of $238.60. The stock has a market cap of $57.11 billion, a price-to-earnings ratio of -162.68 and a beta of 0.91.

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Atlassian (NASDAQ:TEAM - Get Free Report) last posted its earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.85). Atlassian had a negative net margin of 7.22% and a negative return on equity of 17.37%. On average, sell-side analysts forecast that Atlassian Co. will post -0.34 earnings per share for the current year.

Institutional Investors Weigh In On Atlassian

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans grew its position in shares of Atlassian by 168.1% in the third quarter. Thrivent Financial for Lutherans now owns 10,270 shares of the technology company's stock valued at $1,631,000 after purchasing an additional 6,440 shares during the last quarter. Quest Partners LLC boosted its stake in Atlassian by 18.3% during the 3rd quarter. Quest Partners LLC now owns 2,135 shares of the technology company's stock valued at $339,000 after purchasing an additional 330 shares during the period. Commerce Bank grew its holdings in Atlassian by 1.8% in the 3rd quarter. Commerce Bank now owns 4,966 shares of the technology company's stock valued at $789,000 after buying an additional 90 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Atlassian by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 583,579 shares of the technology company's stock worth $92,678,000 after buying an additional 12,422 shares during the period. Finally, Cerity Partners LLC lifted its holdings in shares of Atlassian by 169.0% during the third quarter. Cerity Partners LLC now owns 18,017 shares of the technology company's stock worth $2,861,000 after buying an additional 11,320 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TEAM has been the subject of several analyst reports. Oppenheimer boosted their price objective on Atlassian from $300.00 to $380.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. Macquarie increased their price target on Atlassian from $290.00 to $317.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Cantor Fitzgerald lifted their price objective on shares of Atlassian from $264.00 to $304.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Stephens assumed coverage on shares of Atlassian in a research report on Wednesday, March 19th. They issued an "equal weight" rating and a $255.00 target price for the company. Finally, Scotiabank boosted their price target on shares of Atlassian from $250.00 to $330.00 and gave the stock a "sector perform" rating in a research report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $316.77.

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.