Key Points
- Scott Farquhar sold 7,665 Atlassian shares on Dec. 31 at an average price of $162.68 for $1,246,942.20 and executed ten other identical-size sales in December — 11 tranches totaling 84,315 shares for about $13.64 million.
- Atlassian shares trade around $162 (opened $162.14, down ~0.5%), the company has a market cap of roughly $42.7B and a consensus analyst rating of Moderate Buy with a price target near $239, despite a negative P/E and recent mixed profitability metrics.
Atlassian Corporation PLC (NASDAQ:TEAM - Get Free Report) Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $162.68, for a total transaction of $1,246,942.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Scott Farquhar also recently made the following trade(s):
- On Monday, December 29th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $163.66, for a total transaction of $1,254,453.90.
- On Friday, December 26th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $162.53, for a total transaction of $1,245,792.45.
- On Friday, December 19th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $162.40, for a total transaction of $1,244,796.00.
- On Tuesday, December 23rd, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $161.30, for a total value of $1,236,364.50.
- On Wednesday, December 17th, Scott Farquhar sold 7,665 shares of Atlassian stock. The stock was sold at an average price of $163.16, for a total value of $1,250,621.40.
- On Monday, December 15th, Scott Farquhar sold 7,665 shares of Atlassian stock. The shares were sold at an average price of $158.92, for a total value of $1,218,121.80.
- 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 value 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 value 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.
Atlassian Stock Down 0.5%
TEAM stock opened at $162.14 on Thursday. 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 firm has a 50 day simple moving average of $158.09 and a 200-day simple moving average of $171.31. The company has a market capitalization of $42.66 billion, a P/E ratio of -228.36, a PEG ratio of 25.23 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.
Atlassian (NASDAQ:TEAM - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. Atlassian had a negative net margin of 3.38% and a negative return on equity of 7.11%. The firm's revenue was up 20.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 EPS. On average, equities research analysts predict that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Atlassian
Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Atlassian by 6.0% during the third quarter. Vanguard Group Inc. now owns 18,479,561 shares of the technology company's stock worth $2,951,186,000 after acquiring an additional 1,049,483 shares during the last quarter. Artisan Partners Limited Partnership lifted its position in Atlassian by 66.3% in the 2nd quarter. Artisan Partners Limited Partnership now owns 3,878,133 shares of the technology company's stock valued at $787,610,000 after purchasing an additional 1,545,546 shares during the last quarter. State Street Corp boosted its stake in Atlassian by 1.9% during the 3rd quarter. State Street Corp now owns 3,867,995 shares of the technology company's stock valued at $617,719,000 after purchasing an additional 73,014 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Atlassian by 18.7% during 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 valued at $458,001,000 after purchasing an additional 451,706 shares during the period. Finally, DNB Asset Management AS grew its position in Atlassian by 266.6% in the 3rd quarter. DNB Asset Management AS now owns 2,806,888 shares of the technology company's stock worth $448,260,000 after purchasing an additional 2,041,210 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on TEAM. Bank of America started coverage on Atlassian in a report on Tuesday, September 23rd. They issued a "neutral" rating and a $200.00 price objective for the company. Citigroup reiterated a "buy" rating on shares of Atlassian in a research report on Wednesday, October 22nd. Wall Street Zen raised Atlassian from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Truist Financial set a $210.00 price objective on Atlassian in a research note on Friday, October 31st. Finally, Robert W. Baird set a $230.00 price objective on shares of Atlassian in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $239.23.
View Our Latest Analysis on Atlassian
About Atlassian
(
Get Free Report)
Atlassian Corporation Plc is a software company headquartered in Sydney, Australia, best known for developing collaboration, project management and software development tools. Founded in 2002 by Mike Cannon-Brookes and Scott Farquhar, Atlassian grew from a small engineering-focused team into a publicly traded company after its initial public offering in 2015. The company serves a global customer base that spans small teams to large enterprises across technology, financial services, government and other sectors.
Atlassian's product portfolio centers on tools designed to help teams plan, build and support software and business processes.
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