Key Points
- Scott Farquhar sold 7,665 shares of Atlassian on December 8 at an average price of $160.70 for about $1.23 million, leaving him with 122,640 shares (a 5.88% reduction, valued at roughly $19.7 million).
- The December 8 sale is part of a string of identical sales — multiple 7,665-share transactions between November 10 and December 8 — indicating continued insider liquidation over several weeks.
- For context, Atlassian shares were trading near $161, the company has a market cap of about $42.5 billion, and analysts show a consensus rating of "Moderate Buy" with a $240 average price target.
Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,665 shares of the firm's stock in a transaction on Monday, December 8th. The stock was sold at an average price of $160.70, for a total value of $1,231,765.50. Following the sale, the director directly owned 122,640 shares of the company's stock, valued at approximately $19,708,248. This trade represents a 5.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Scott Farquhar also recently made the following trade(s):
- 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 stock was sold at an average price of $150.12, for a total value of $1,150,669.80.
- On Wednesday, November 26th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were 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 stock was sold at an average price of $146.62, for a total transaction of $1,123,842.30.
- On Friday, November 21st, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $144.02, for a total transaction of $1,103,913.30.
- On Wednesday, November 19th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $147.63, for a total transaction of $1,131,583.95.
- On Monday, November 17th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $147.41, for a total transaction of $1,129,897.65.
- On Thursday, November 13th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $153.77, for a total value of $1,178,647.05.
- On Monday, November 10th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $158.00, for a total value of $1,211,070.00.
Atlassian Trading Up 0.4%
Shares of NASDAQ TEAM opened at $161.41 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $42.47 billion, a PE ratio of -227.33, a PEG ratio of 30.32 and a beta of 0.89. Atlassian Corporation PLC has a twelve month low of $139.70 and a twelve month high of $326.00. The stock has a fifty day simple moving average of $155.14 and a 200-day simple moving average of $176.28.
Atlassian (NASDAQ:TEAM - Get Free Report) last announced its earnings results on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.21. The company had revenue of $1.43 billion during the quarter, compared to analysts' expectations of $1.40 billion. Atlassian had a negative return on equity of 7.11% and a negative net margin of 3.38%.Atlassian's revenue for the quarter was up 20.6% on a year-over-year basis. During the same period last year, the business posted $0.77 EPS. On average, equities analysts forecast that Atlassian Corporation PLC will post -0.34 earnings per share for the current year.
Analyst Ratings Changes
Several brokerages recently weighed in on TEAM. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $240.00 target price on shares of Atlassian in a research note on Friday, October 31st. TD Cowen cut their price objective on Atlassian from $220.00 to $205.00 and set a "hold" rating on the stock in a research report on Monday, October 27th. The Goldman Sachs Group reiterated a "buy" rating and issued a $260.00 price objective on shares of Atlassian in a research note on Friday, October 31st. Bank of America assumed coverage on Atlassian in a report on Tuesday, September 23rd. They issued a "neutral" rating and a $200.00 target price for the company. Finally, Zacks Research upgraded Atlassian from a "strong sell" rating to a "hold" rating in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $240.00.
Read Our Latest Stock Report on Atlassian
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in TEAM. Capco Asset Management LLC acquired a new stake in shares of Atlassian during the 2nd quarter worth about $25,000. Physician Wealth Advisors Inc. increased its stake in Atlassian by 60.4% in the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company's stock valued at $26,000 after purchasing an additional 61 shares during the last quarter. Atlantic Union Bankshares Corp raised its holdings in Atlassian by 19,900.0% during the third quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company's stock worth $32,000 after purchasing an additional 199 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Atlassian by 447.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 197 shares of the technology company's stock worth $42,000 after buying an additional 161 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Atlassian in the 3rd quarter valued at $57,000. 94.45% of the stock is owned by institutional investors and hedge funds.
About Atlassian
(
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.
Further Reading
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