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 company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $218.05, for a total value of $1,733,061.40. Following the completion of the sale, the director now owns 119,220 shares in the company, valued at approximately $25,995,921. This represents a 6.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• 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 stock was 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 stock was 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 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.
• On Tuesday, January 21st, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $255.71, for a total value of $2,032,383.08.
• On Friday, January 17th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $253.01, for a total transaction of $2,010,923.48.
• On Wednesday, December 18th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $258.33, for a total transaction of $2,053,206.84.

Atlassian Stock Down 7.3 %

TEAM traded down $16.45 during trading on Thursday, reaching $209.99. The company had a trading volume of 2,266,488 shares, compared to its average volume of 1,929,994. The business's fifty day moving average price is $274.77 and its 200 day moving average price is $233.52. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.24 and a quick ratio of 1.24. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $326.00. The company has a market cap of $55.02 billion, a P/E ratio of -156.96 and a beta of 0.91.

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Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The technology company reported ($0.12) earnings per share (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%. Equities analysts anticipate that Atlassian Co. will post -0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on TEAM. Macquarie upped their price objective on Atlassian from $290.00 to $317.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Mizuho upped their price target on shares of Atlassian from $285.00 to $355.00 and gave the stock an "outperform" rating in a research note on Friday, January 31st. UBS Group boosted their price objective on shares of Atlassian from $275.00 to $330.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. The Goldman Sachs Group upped their price target on Atlassian from $245.00 to $370.00 and gave the stock a "buy" rating in a report on Monday, February 3rd. Finally, Piper Sandler lifted their price objective on Atlassian from $310.00 to $365.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $319.71.

Institutional Investors Weigh In On Atlassian

A number of institutional investors have recently made changes to their positions in the company. Baillie Gifford & Co. boosted its position in shares of Atlassian by 0.9% in the third quarter. Baillie Gifford & Co. now owns 8,514,039 shares of the technology company's stock valued at $1,352,115,000 after acquiring an additional 78,454 shares during the period. JPMorgan Chase & Co. raised its position in shares of Atlassian by 72.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,284,400 shares of the technology company's stock valued at $1,042,737,000 after buying an additional 1,806,042 shares in the last quarter. State Street Corp boosted its stake in shares of Atlassian by 0.3% in the third quarter. State Street Corp now owns 3,560,381 shares of the technology company's stock valued at $565,424,000 after buying an additional 8,957 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Atlassian during the fourth quarter worth approximately $687,486,000. Finally, Invesco Ltd. increased its stake in Atlassian by 265.9% during the 4th quarter. Invesco Ltd. now owns 2,445,440 shares of the technology company's stock worth $595,171,000 after acquiring an additional 1,777,179 shares during the period. Institutional investors 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.