Catalyst Capital Advisors LLC Grows Stock Holdings in Atlassian Corporation PLC (NASDAQ:TEAM)

Catalyst Capital Advisors LLC increased its position in Atlassian Corporation PLC (NASDAQ:TEAM - Free Report) by 6,404.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,001 shares of the technology company's stock after acquiring an additional 7,878 shares during the quarter. Catalyst Capital Advisors LLC's holdings in Atlassian were worth $1,698,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TEAM. Corebridge Financial Inc. raised its stake in Atlassian by 0.3% during the 4th quarter. Corebridge Financial Inc. now owns 10,499 shares of the technology company's stock valued at $2,555,000 after purchasing an additional 35 shares during the period. GeoWealth Management LLC grew its holdings in Atlassian by 26.8% during the 4th quarter. GeoWealth Management LLC now owns 180 shares of the technology company's stock valued at $44,000 after buying an additional 38 shares in the last quarter. Assetmark Inc. grew its holdings in Atlassian by 30.6% during the 4th quarter. Assetmark Inc. now owns 175 shares of the technology company's stock valued at $43,000 after buying an additional 41 shares in the last quarter. True Wealth Design LLC raised its position in shares of Atlassian by 21.6% during the fourth quarter. True Wealth Design LLC now owns 282 shares of the technology company's stock valued at $69,000 after buying an additional 50 shares during the last quarter. Finally, Covenant Partners LLC lifted its holdings in shares of Atlassian by 4.2% in the fourth quarter. Covenant Partners LLC now owns 1,328 shares of the technology company's stock worth $323,000 after buying an additional 53 shares in the last quarter. Institutional investors own 94.45% of the company's stock.

Insider Transactions at Atlassian

In other Atlassian news, CEO Michael Cannon-Brookes sold 7,665 shares of Atlassian stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $213.97, for a total value of $1,640,080.05. Following the transaction, the chief executive officer directly owned 467,565 shares of the company's stock, valued at approximately $100,044,883.05. The trade was a 1.61% 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 the SEC website. Also, Director Scott Farquhar sold 7,665 shares of the stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $213.97, for a total value of $1,640,080.05. Following the sale, the director owned 467,565 shares of the company's stock, valued at approximately $100,044,883.05. This represents a 1.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 410,815 shares of company stock worth $85,532,872 over the last 90 days. Company insiders own 38.55% of the company's stock.

Atlassian Stock Up 3.2%

Atlassian stock traded up $6.65 during mid-day trading on Friday, reaching $213.43. 1,566,326 shares of the company were exchanged, compared to its average volume of 2,154,153. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market cap of $56.03 billion, a P/E ratio of -128.57 and a beta of 0.94. The business has a fifty day moving average of $209.58 and a 200 day moving average of $235.55. Atlassian Corporation PLC has a 12-month low of $135.29 and a 12-month high of $326.00.

Atlassian (NASDAQ:TEAM - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.04. Atlassian had a negative return on equity of 23.41% and a negative net margin of 8.66%. The firm had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. During the same period in the prior year, the business posted $0.89 EPS. The firm's quarterly revenue was up 14.1% on a year-over-year basis. Research analysts anticipate that Atlassian Corporation PLC will post -0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Macquarie dropped their target price on shares of Atlassian from $270.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Cantor Fitzgerald raised shares of Atlassian from a "neutral" rating to an "overweight" rating and dropped their price objective for the company from $304.00 to $272.00 in a report on Wednesday, April 2nd. Truist Financial cut their price objective on Atlassian from $350.00 to $300.00 and set a "buy" rating for the company in a research report on Monday, March 31st. BMO Capital Markets decreased their target price on Atlassian from $295.00 to $245.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Finally, Robert W. Baird raised Atlassian from a "neutral" rating to an "outperform" rating and dropped their price target for the company from $320.00 to $255.00 in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $282.19.

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.