Insider Selling: Atlassian Co. (NASDAQ:TEAM) CEO Sells 8,241 Shares of Stock

Atlassian Co. (NASDAQ:TEAM) CEO Scott Farquhar sold 8,241 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $194.67, for a total transaction of $1,604,275.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, March 22nd, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $192.73, for a total value of $1,588,287.93.
• On Monday, March 18th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $197.25, for a total value of $1,625,537.25.
• On Monday, March 11th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $214.32, for a total value of $1,766,211.12.
• On Friday, March 1st, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $207.85, for a total value of $1,712,891.85.
• On Monday, February 26th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $204.79, for a total value of $1,687,674.39.
• On Tuesday, February 20th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $204.63, for a total transaction of $1,686,355.83.
• On Monday, February 12th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $218.32, for a total transaction of $1,799,175.12.
• On Wednesday, January 31st, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $251.76, for a total value of $2,074,754.16.
• On Monday, January 29th, Scott Farquhar sold 8,241 shares of Atlassian stock. The stock was sold at an average price of $253.53, for a total value of $2,089,340.73.
• On Wednesday, January 24th, Scott Farquhar sold 8,241 shares of Atlassian stock. The shares were sold at an average price of $245.64, for a total transaction of $2,024,319.24.

Atlassian Stock Up 1.0 %

Shares of NASDAQ TEAM traded up $1.97 during mid-day trading on Thursday, reaching $195.11. 1,130,247 shares of the company’s stock were exchanged, compared to its average volume of 1,748,954. The firm has a market capitalization of $50.61 billion, a price-to-earnings ratio of -130.35 and a beta of 0.64. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.04. Atlassian Co. has a twelve month low of $128.02 and a twelve month high of $258.69. The business has a fifty day simple moving average of $214.94 and a 200 day simple moving average of $207.04.

Atlassian (NASDAQ:TEAM) last issued its quarterly earnings results on Thursday, February 1st. The technology company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.24). The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Atlassian had a negative return on equity of 34.56% and a negative net margin of 9.87%. As a group, equities analysts expect that Atlassian Co. will post -0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TEAM shares. Capital One Financial initiated coverage on Atlassian in a research note on Monday, December 18th. They set an “equal weight” rating and a $238.00 price target on the stock. Citigroup upped their price objective on shares of Atlassian from $215.00 to $280.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Mizuho increased their target price on shares of Atlassian from $240.00 to $265.00 and gave the company a “buy” rating in a report on Tuesday, January 16th. Barclays increased their price objective on Atlassian from $165.00 to $250.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Finally, StockNews.com cut shares of Atlassian from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $225.19.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TEAM. OFI Invest Asset Management acquired a new position in Atlassian during the third quarter worth about $26,000. Meeder Asset Management Inc. lifted its position in shares of Atlassian by 151.5% during the 4th quarter. Meeder Asset Management Inc. now owns 244 shares of the technology company’s stock valued at $31,000 after acquiring an additional 147 shares during the period. Tyler Stone Wealth Management purchased a new stake in Atlassian in the 2nd quarter valued at approximately $34,000. Quarry LP acquired a new stake in Atlassian in the 2nd quarter worth about $44,000. Finally, Harbour Investments Inc. lifted its stake in shares of Atlassian by 148.8% in the 4th quarter. Harbour Investments Inc. now owns 199 shares of the technology company’s stock valued at $47,000 after purchasing an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 93.03% of the company’s stock.

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.