Catalyst Private Wealth LLC Sells 65 Shares of Atlassian Co. (NASDAQ:TEAM)

Catalyst Private Wealth LLC cut its stake in shares of Atlassian Co. (NASDAQ:TEAM) by 0.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 239,972 shares of the technology company’s stock after selling 65 shares during the period. Atlassian accounts for about 26.0% of Catalyst Private Wealth LLC’s investment portfolio, making the stock its biggest holding. Catalyst Private Wealth LLC’s holdings in Atlassian were worth $58,404,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Dragoneer Investment Group LLC acquired a new position in Atlassian during the second quarter worth approximately $469,803,000. Point72 Asset Management L.P. increased its holdings in shares of Atlassian by 760.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 698,775 shares of the technology company’s stock worth $110,972,000 after acquiring an additional 617,566 shares during the last quarter. Two Sigma Advisers LP raised its stake in Atlassian by 122.0% in the 3rd quarter. Two Sigma Advisers LP now owns 1,003,600 shares of the technology company’s stock valued at $159,382,000 after acquiring an additional 551,500 shares during the period. Westfield Capital Management Co. LP bought a new stake in Atlassian in the 3rd quarter valued at $57,149,000. Finally, Parnassus Investments LLC lifted its holdings in Atlassian by 322.9% during the 3rd quarter. Parnassus Investments LLC now owns 321,240 shares of the technology company’s stock valued at $51,016,000 after purchasing an additional 245,286 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Macquarie began coverage on shares of Atlassian in a research report on Thursday, December 12th. They issued a “neutral” rating and a $290.00 price objective on the stock. Canaccord Genuity Group raised their price objective on shares of Atlassian from $255.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. UBS Group upped their target price on Atlassian from $180.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Scotiabank lifted their price target on Atlassian from $175.00 to $250.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Finally, Oppenheimer upped their price objective on Atlassian from $270.00 to $300.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $266.10.

Insider Activity at Atlassian

In other Atlassian news, CAO Gene Liu sold 1,024 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $225.45, for a total value of $230,860.80. Following the completion of the transaction, the chief accounting officer now directly owns 59,168 shares in the company, valued at approximately $13,339,425.60. This trade represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Cannon-Brookes sold 7,948 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $188.56, for a total value of $1,498,674.88. Following the sale, the chief executive officer now owns 373,556 shares in the company, valued at approximately $70,437,719.36. This trade represents a 2.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 255,532 shares of company stock valued at $60,838,451 in the last quarter. Insiders own 38.55% of the company’s stock.

Atlassian Price Performance

Shares of TEAM traded down $6.15 during midday trading on Monday, hitting $236.24. The company’s stock had a trading volume of 1,091,569 shares, compared to its average volume of 1,850,432. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.96. Atlassian Co. has a one year low of $135.29 and a one year high of $287.97. The stock has a market capitalization of $61.52 billion, a price-to-earnings ratio of -155.42 and a beta of 0.83. The company’s fifty day simple moving average is $254.33 and its two-hundred day simple moving average is $199.79.

Atlassian (NASDAQ:TEAM) last released its earnings results on Thursday, October 31st. The technology company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Atlassian had a negative return on equity of 23.35% and a negative net margin of 8.59%. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.07) earnings per share. As a group, equities analysts expect that Atlassian Co. will post -0.54 earnings per share for the current fiscal year.

Atlassian 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.