Atlassian Co. (NASDAQ:TEAM) is Catalyst Private Wealth LLC’s Largest Position

Catalyst Private Wealth LLC raised its position in Atlassian Co. (NASDAQ:TEAM) by 0.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 240,037 shares of the technology company’s stock after purchasing an additional 154 shares during the period. Atlassian comprises about 18.7% of Catalyst Private Wealth LLC’s investment portfolio, making the stock its largest position. Catalyst Private Wealth LLC’s holdings in Atlassian were worth $38,120,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Asset Dedication LLC lifted its stake in shares of Atlassian by 229.8% during the second quarter. Asset Dedication LLC now owns 155 shares of the technology company’s stock valued at $27,000 after buying an additional 108 shares during the period. Trust Co. of Vermont increased its stake in Atlassian by 2,175.0% in the second quarter. Trust Co. of Vermont now owns 182 shares of the technology company’s stock valued at $32,000 after purchasing an additional 174 shares during the last quarter. Rothschild Investment LLC acquired a new stake in Atlassian in the 2nd quarter worth about $36,000. GAMMA Investing LLC boosted its stake in Atlassian by 68.6% in the 3rd quarter. GAMMA Investing LLC now owns 236 shares of the technology company’s stock worth $37,000 after buying an additional 96 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in Atlassian in the 1st quarter valued at about $40,000. 93.03% of the stock is owned by institutional investors and hedge funds.

Atlassian Stock Down 1.1 %

NASDAQ TEAM traded down $2.31 during trading hours on Tuesday, reaching $216.65. 490,873 shares of the company traded hands, compared to its average volume of 1,826,196. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.95. Atlassian Co. has a 12 month low of $135.29 and a 12 month high of $258.69. The company has a 50 day moving average of $174.38 and a two-hundred day moving average of $171.31.

Atlassian (NASDAQ:TEAM) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.13. The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Atlassian had a negative return on equity of 23.38% and a negative net margin of 8.59%. Atlassian’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.07) earnings per share. As a group, analysts expect that Atlassian Co. will post -0.58 EPS for the current year.

Insider Buying and Selling

In related news, CEO Michael Cannon-Brookes sold 7,948 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $141.23, for a total value of $1,122,496.04. Following the sale, the chief executive officer now owns 278,180 shares of the company’s stock, valued at approximately $39,287,361.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Atlassian news, CEO Michael Cannon-Brookes sold 7,948 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $141.23, for a total value of $1,122,496.04. Following the completion of the transaction, the chief executive officer now owns 278,180 shares in the company, valued at approximately $39,287,361.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Gene Liu sold 1,024 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $225.45, for a total value of $230,860.80. Following the completion of the sale, the chief accounting officer now owns 59,168 shares in the company, valued at approximately $13,339,425.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 237,269 shares of company stock worth $41,382,072 over the last quarter. 38.55% of the stock is owned by company insiders.

Analyst Ratings Changes

TEAM has been the topic of several research analyst reports. Oppenheimer raised their target price on shares of Atlassian from $230.00 to $270.00 and gave the stock an “outperform” rating in a research report on Friday. Robert W. Baird lifted their target price on Atlassian from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday. Wells Fargo & Company upped their price target on Atlassian from $250.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday. KeyCorp raised Atlassian from a “sector weight” rating to an “overweight” rating and set a $260.00 price objective on the stock in a research note on Friday. Finally, Jefferies Financial Group raised their price target on shares of Atlassian from $240.00 to $280.00 and gave the company a “buy” rating in a report on Friday. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $243.16.

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.