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 the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $163.81, for a total value of $1,301,961.88. Following the completion of the transaction, the director now owns 151,012 shares in the company, valued at approximately $24,737,275.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, August 27th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $164.81, for a total transaction of $1,309,909.88.
• On Wednesday, August 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was 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 shares were 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 value 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 value of $1,398,132.68.
• On Friday, July 12th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $181.21, for a total value of $1,440,257.08.
• On Friday, July 5th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $186.48, for a total value 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 stock was 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.

Atlassian Stock Down 0.9 %

NASDAQ TEAM traded down $1.50 on Wednesday, hitting $162.30. 1,539,937 shares of the company were exchanged, compared to its average volume of 1,783,410. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. The company has a market cap of $42.20 billion, a PE ratio of -257.89 and a beta of 0.73. The stock has a fifty day moving average of $166.27 and a 200-day moving average of $179.10. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69.

Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.07. Atlassian had a negative net margin of 6.89% and a negative return on equity of 17.69%. The company had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.13 billion. During the same quarter in the prior year, the firm earned ($0.21) EPS. The business's revenue was up 20.5% on a year-over-year basis. As a group, analysts forecast that Atlassian Co. will post -0.58 earnings per share for the current year.

Analyst Ratings Changes

TEAM has been the subject of a number of research reports. StockNews.com cut Atlassian from a "buy" rating to a "hold" rating in a research note on Friday, July 12th. JMP Securities upgraded Atlassian to a "hold" rating in a report on Friday, August 2nd. Capital One Financial upgraded shares of Atlassian from an "equal weight" rating to an "overweight" rating and set a $211.00 price objective for the company in a report on Thursday, July 11th. Truist Financial reduced their target price on shares of Atlassian from $200.00 to $160.00 and set a "hold" rating on the stock in a report on Friday, August 2nd. Finally, BMO Capital Markets dropped their price target on shares of Atlassian from $220.00 to $177.00 and set a "market perform" rating for the company in a research note on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $217.69.

Institutional Investors Weigh In On Atlassian

Hedge funds have recently added to or reduced their stakes in the company. New Century Financial Group LLC bought a new stake in Atlassian during the 2nd quarter valued at $397,000. Truist Financial Corp lifted its position in Atlassian by 2.5% in the 2nd quarter. Truist Financial Corp now owns 84,358 shares of the technology company's stock valued at $14,921,000 after acquiring an additional 2,050 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Atlassian during the 2nd quarter valued at about $14,364,000. Quarry LP boosted its stake in Atlassian by 143.8% during the 2nd quarter. Quarry LP now owns 373 shares of the technology company's stock valued at $66,000 after purchasing an additional 220 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Atlassian during the 2nd quarter worth approximately $407,000. Institutional investors and hedge funds own 93.03% 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.

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