Atlassian Co. (NASDAQ:TEAM) Director Scott Farquhar Sells 7,948 Shares

Atlassian Co. (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,948 shares of the business's stock in a transaction 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 approximately $59,459,226.44. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 transaction 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 value 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 value 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 transaction 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 stock was sold at an average price of $270.63, for a total transaction of $2,150,967.24.

Atlassian Stock Performance

TEAM traded down $2.56 during midday trading on Friday, reaching $202.75. The company had a trading volume of 1,564,440 shares, compared to its average volume of 2,049,295. Atlassian Co. has a 12-month low of $135.29 and a 12-month high of $326.00. The business has a 50-day moving average price of $239.67 and a two-hundred day moving average price of $242.74. The stock has a market cap of $53.12 billion, a PE ratio of -151.30 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.

Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The technology company reported ($0.12) EPS 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 expect that Atlassian Co. will post -0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Atlassian

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEAM. Virtu Financial LLC purchased a new position in shares of Atlassian in the third quarter worth about $606,000. Fulton Bank N.A. purchased a new stake in shares of Atlassian during the fourth quarter worth $447,000. Allworth Financial LP grew its position in shares of Atlassian by 3.1% in the fourth quarter. Allworth Financial LP now owns 1,548 shares of the technology company's stock valued at $404,000 after purchasing an additional 47 shares in the last quarter. Nordea Investment Management AB lifted its holdings in Atlassian by 20.1% during the 4th quarter. Nordea Investment Management AB now owns 30,442 shares of the technology company's stock worth $7,458,000 after purchasing an additional 5,088 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Atlassian by 61.4% during the third quarter. Principal Financial Group Inc. now owns 10,770 shares of the technology company's stock valued at $1,710,000 after buying an additional 4,099 shares during the period. 94.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. KeyCorp dropped their price target on Atlassian from $365.00 to $275.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Cantor Fitzgerald upgraded Atlassian from a "neutral" rating to an "overweight" rating and cut their target price for the stock from $304.00 to $272.00 in a report on Wednesday, April 2nd. Barclays boosted their price target on shares of Atlassian from $275.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Morgan Stanley dropped their price objective on shares of Atlassian from $370.00 to $320.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, Baird R W raised shares of Atlassian from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 14th. Six 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. According to data from MarketBeat.com, Atlassian presently has an average rating of "Moderate Buy" and an average price target of $297.73.

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.