Atlassian (NASDAQ:TEAM) Director Scott Farquhar Sells 7,665 Shares

by · The Cerbat Gem

Atlassian Corporation PLC (NASDAQ:TEAM – Get Free Report) Director Scott Farquhar sold 7,665 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $163.16, for a total value of $1,250,621.40. Following the sale, the director owned 68,985 shares of the company’s stock, valued at $11,255,592.60. This trade represents a 10.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

  • On Monday, December 15th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $158.92, for a total transaction of $1,218,121.80.
  • On Friday, December 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.11, for a total transaction of $1,242,573.15.
  • On Wednesday, December 10th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $161.79, for a total transaction of $1,240,120.35.
  • On Monday, December 8th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.70, for a total value of $1,231,765.50.
  • On Friday, December 5th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $160.48, for a total value of $1,230,079.20.
  • On Wednesday, December 3rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $155.08, for a total value of $1,188,688.20.
  • On Friday, November 28th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $150.12, for a total transaction of $1,150,669.80.
  • On Wednesday, November 26th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $148.29, for a total transaction of $1,136,642.85.
  • On Monday, November 24th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $146.62, for a total value of $1,123,842.30.
  • On Friday, November 21st, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $144.02, for a total value of $1,103,913.30.

Atlassian Stock Performance

TEAM traded up $3.02 on Thursday, hitting $165.00. The company’s stock had a trading volume of 2,183,244 shares, compared to its average volume of 2,494,429. Atlassian Corporation PLC has a 12 month low of $139.70 and a 12 month high of $326.00. The firm has a market cap of $43.41 billion, a P/E ratio of -232.39, a price-to-earnings-growth ratio of 30.10 and a beta of 0.89. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.72. The company’s 50 day simple moving average is $156.48 and its 200-day simple moving average is $174.53.

Atlassian (NASDAQ:TEAM – Get Free Report) last posted its earnings results on Thursday, October 30th. The technology company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.21. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.40 billion. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.The company’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 EPS. Analysts forecast that Atlassian Corporation PLC will post -0.34 EPS for the current year.

Institutional Investors Weigh In On Atlassian

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Atlassian by 6.0% in the third quarter. Vanguard Group Inc. now owns 18,479,561 shares of the technology company’s stock worth $2,951,186,000 after buying an additional 1,049,483 shares in the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of Atlassian by 66.3% during the 2nd quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company’s stock worth $787,610,000 after acquiring an additional 1,545,546 shares during the period. State Street Corp raised its position in shares of Atlassian by 1.9% in the 3rd quarter. State Street Corp now owns 3,867,995 shares of the technology company’s stock worth $617,719,000 after acquiring an additional 73,014 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Atlassian by 18.7% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,867,886 shares of the technology company’s stock worth $458,001,000 after acquiring an additional 451,706 shares in the last quarter. Finally, DNB Asset Management AS lifted its stake in shares of Atlassian by 266.6% in the 3rd quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company’s stock valued at $448,260,000 after purchasing an additional 2,041,210 shares during the period. Institutional investors own 94.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TEAM shares. BMO Capital Markets raised their price objective on Atlassian from $190.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Wall Street Zen upgraded shares of Atlassian from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Bank of America initiated coverage on shares of Atlassian in a report on Tuesday, September 23rd. They set a “neutral” rating and a $200.00 target price on the stock. Truist Financial set a $210.00 price target on shares of Atlassian in a research note on Friday, October 31st. Finally, The Goldman Sachs Group restated a “buy” rating and set a $260.00 price target on shares of Atlassian in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $239.23.

View Our Latest Analysis on TEAM

Atlassian Company Profile

(Get Free Report)

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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