Key Points
- Scott Farquhar sold 7,665 shares on Dec. 15 at an average price of $158.92 for $1,218,121.80, leaving him with 84,315 shares (an 8.33% reduction); the transaction was disclosed in an SEC filing.
- This trade is part of a series of at least 11 similar block sales of 7,665 shares between Nov. 19 and Dec. 15, indicating an ongoing, sizable reduction in his stake.
- Atlassian stock is trading near $159.56 with a market cap of about $42B and a 52-week range of $139.70–$326.00; the company recently beat quarterly EPS estimates but still reports a negative net margin and return on equity.
Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,665 shares of the business's stock in a transaction on Monday, December 15th. The stock was sold at an average price of $158.92, for a total transaction of $1,218,121.80. Following the completion of the transaction, the director directly owned 84,315 shares in the company, valued at $13,399,339.80. This trade represents a 8.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.
Scott Farquhar also recently made the following trade(s):
- On Friday, December 12th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were 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 transaction 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 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 value 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 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.
- On Wednesday, November 19th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $147.63, for a total value of $1,131,583.95.
Atlassian Trading Up 0.2%
TEAM stock opened at $159.56 on Wednesday. The firm has a fifty day moving average price of $156.23 and a 200 day moving average price of $174.62. Atlassian Corporation PLC has a fifty-two week low of $139.70 and a fifty-two week high of $326.00. The firm has a market cap of $41.98 billion, a PE ratio of -224.73, a price-to-earnings-growth ratio of 30.02 and a beta of 0.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26.
Atlassian (NASDAQ:TEAM - Get Free Report) last released its quarterly earnings data on Thursday, October 30th. The technology company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.83 by $0.21. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the business earned $0.77 earnings per share. Atlassian's quarterly revenue was up 20.6% compared to the same quarter last year. Sell-side analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on TEAM. Cantor Fitzgerald reiterated an "overweight" rating and issued a $240.00 price target on shares of Atlassian in a research report on Friday, October 31st. BMO Capital Markets raised their price objective on Atlassian from $190.00 to $195.00 and gave the company an "outperform" rating in a research note on Friday, October 31st. KeyCorp dropped their target price on Atlassian from $250.00 to $210.00 and set an "overweight" rating for the company in a report on Thursday, October 23rd. Macquarie cut their target price on Atlassian from $250.00 to $240.00 and set an "outperform" rating on the stock in a research report on Monday, November 3rd. Finally, Wells Fargo & Company initiated coverage on Atlassian in a report on Tuesday, September 30th. They set an "overweight" rating and a $216.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $239.23.
Get Our Latest Stock Analysis on TEAM
Institutional Investors Weigh In On Atlassian
Several hedge funds and other institutional investors have recently modified their holdings of TEAM. Allworth Financial LP lifted its stake in shares of Atlassian by 21.6% during the 3rd quarter. Allworth Financial LP now owns 3,161 shares of the technology company's stock worth $505,000 after acquiring an additional 561 shares during the last quarter. IFP Advisors Inc grew its position in Atlassian by 624.6% in the 3rd quarter. IFP Advisors Inc now owns 5,174 shares of the technology company's stock valued at $826,000 after acquiring an additional 4,460 shares during the last quarter. Swiss Life Asset Management Ltd increased its stake in Atlassian by 14.7% in the third quarter. Swiss Life Asset Management Ltd now owns 27,397 shares of the technology company's stock worth $4,375,000 after purchasing an additional 3,505 shares during the period. Cambria Investment Management L.P. bought a new stake in shares of Atlassian during the third quarter worth $671,000. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of Atlassian during the third quarter valued at $1,925,000. 94.45% of the stock is currently owned by hedge funds and other institutional investors.
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.
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