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

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 7,948 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $176.05, for a total value of $1,399,245.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, June 20th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $156.59, for a total value of $1,244,577.32.
• On Tuesday, June 18th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $153.84, for a total value of $1,222,720.32.
• On Friday, June 7th, Scott Farquhar sold 7,948 shares of Atlassian stock. The stock was sold at an average price of $162.61, for a total value of $1,292,424.28.
• On Monday, June 10th, Scott Farquhar sold 7,948 shares of Atlassian stock. The shares were sold at an average price of $162.20, for a total value of $1,289,165.60.
• On Wednesday, June 5th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $157.52, for a total value of $1,298,122.32.
• On Thursday, May 30th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $161.00, for a total value of $1,326,801.00.
• On Friday, May 24th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $170.05, for a total value of $1,401,382.05.
• On Friday, May 17th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $181.34, for a total value of $1,494,422.94.
• On Friday, May 3rd, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $183.51, for a total transaction of $1,512,305.91.
• On Monday, April 29th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $177.14, for a total transaction of $1,459,810.74.

Atlassian Stock Up 2.2 %

TEAM stock opened at $176.88 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.18 and a current ratio of 1.18. Atlassian Co. has a 52-week low of $152.34 and a 52-week high of $258.69. The company has a 50-day moving average of $172.25 and a two-hundred day moving average of $201.54.

Atlassian (NASDAQ:TEAM) last released its quarterly earnings results on Thursday, April 25th. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.27. Atlassian had a negative net margin of 3.90% and a negative return on equity of 13.95%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the company earned ($0.40) earnings per share. The business’s quarterly revenue was up 29.9% compared to the same quarter last year. Equities analysts anticipate that Atlassian Co. will post -0.21 EPS for the current year.

Institutional Investors Weigh In On Atlassian

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Atlassian by 1.4% in the first quarter. Vanguard Group Inc. now owns 15,577,302 shares of the technology company’s stock valued at $3,039,287,000 after buying an additional 221,650 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Atlassian by 8.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,141,645 shares of the technology company’s stock valued at $2,173,847,000 after buying an additional 904,138 shares during the period. WCM Investment Management LLC lifted its stake in shares of Atlassian by 2.7% in the fourth quarter. WCM Investment Management LLC now owns 9,640,536 shares of the technology company’s stock valued at $2,325,490,000 after buying an additional 249,017 shares during the period. Baillie Gifford & Co. lifted its stake in shares of Atlassian by 20.7% in the fourth quarter. Baillie Gifford & Co. now owns 8,807,619 shares of the technology company’s stock valued at $2,094,980,000 after buying an additional 1,511,318 shares during the period. Finally, Brown Advisory Inc. lifted its stake in shares of Atlassian by 7.9% in the fourth quarter. Brown Advisory Inc. now owns 3,473,105 shares of the technology company’s stock valued at $826,113,000 after buying an additional 255,653 shares during the period. 93.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TEAM has been the topic of several recent analyst reports. Wells Fargo & Company cut their target price on shares of Atlassian from $285.00 to $250.00 and set an “overweight” rating on the stock in a research note on Friday, June 21st. Canaccord Genuity Group cut their target price on shares of Atlassian from $260.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. TD Cowen dropped their price target on shares of Atlassian from $220.00 to $210.00 and set a “hold” rating on the stock in a research note on Friday, April 26th. Robert W. Baird dropped their price target on shares of Atlassian from $270.00 to $230.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Finally, Citigroup dropped their price target on shares of Atlassian from $280.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, April 12th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $221.28.

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.