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

Atlassian Co. (NASDAQ:TEAM - Get Free Report) CEO Scott Farquhar sold 7,948 shares of the company's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $164.81, for a total transaction of $1,309,909.88. Following the sale, the chief executive officer now directly owns 182,804 shares in the company, valued at approximately $30,127,927.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, August 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $140.54, for a total transaction of $1,117,011.92.
• On Monday, August 5th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $143.54, for a total transaction of $1,140,855.92.
• On Monday, July 29th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $178.96, for a total transaction of $1,422,374.08.
• On Friday, July 19th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $175.91, for a total transaction of $1,398,132.68.
• On Friday, July 12th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $181.21, for a total transaction of $1,440,257.08.
• On Friday, July 5th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $186.48, for a total transaction of $1,482,143.04.
• On Wednesday, July 3rd, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $182.62, for a total transaction of $1,451,463.76.
• On Monday, July 1st, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $177.25, for a total transaction of $1,408,783.00.
• On Friday, June 28th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $176.05, for a total transaction of $1,399,245.40.
• On Thursday, June 20th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $156.59, for a total transaction of $1,244,577.32.

Atlassian Price Performance

Atlassian stock traded down $2.38 during trading on Wednesday, reaching $161.94. The company had a trading volume of 1,584,017 shares, compared to its average volume of 1,792,150. The firm's 50-day simple moving average is $166.06 and its 200 day simple moving average is $180.65. Atlassian Co. has a 1-year low of $135.29 and a 1-year high of $258.69. The firm has a market capitalization of $42.11 billion, a PE ratio of -257.05 and a beta of 0.74. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.18 and a current ratio of 1.18.

Atlassian (NASDAQ:TEAM - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.07. The firm had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.13 billion. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The company's revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.21) EPS. As a group, equities research analysts anticipate that Atlassian Co. will post -0.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on TEAM shares. Truist Financial decreased their price objective on shares of Atlassian from $200.00 to $160.00 and set a "hold" rating for the company in a research report on Friday, August 2nd. Robert W. Baird lowered shares of Atlassian from an "outperform" rating to a "neutral" rating and reduced their price target for the stock from $230.00 to $175.00 in a research report on Friday, August 2nd. Morgan Stanley reduced their price target on shares of Atlassian from $245.00 to $225.00 and set an "overweight" rating for the company in a research report on Wednesday, July 17th. StockNews.com lowered shares of Atlassian from a "buy" rating to a "hold" rating in a research report on Friday, July 12th. Finally, Mizuho reduced their price target on shares of Atlassian from $225.00 to $220.00 and set an "outperform" rating for the company in a research report on Tuesday, July 16th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $217.69.

Institutional Trading of Atlassian

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hollencrest Capital Management raised its stake in shares of Atlassian by 383.9% during the first quarter. Hollencrest Capital Management now owns 150 shares of the technology company's stock worth $29,000 after purchasing an additional 119 shares during the last quarter. Asset Dedication LLC boosted its stake in shares of Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company's stock valued at $27,000 after acquiring an additional 108 shares during the last quarter. Trust Co. of Vermont increased its position in Atlassian by 2,175.0% during the 2nd quarter. Trust Co. of Vermont now owns 182 shares of the technology company's stock worth $32,000 after purchasing an additional 174 shares in the last quarter. Rothschild Investment LLC purchased a new stake in Atlassian during the 2nd quarter worth about $36,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in Atlassian in the 1st quarter valued at about $40,000. 93.03% of the stock is currently owned by hedge funds and other institutional investors.

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.

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