The cluster signals conviction from active managers, but the 45-day 13F lag means positions may have been adjusted since March 31. Monitor for any Q2 2026 insider buying or earnings pre-announcements that could confirm the thesis. The full exit by Point72 is a cautionary signal — watch for follow-on selling by other quant funds.
Executive Summary
A bullish institutional cluster emerged in ATRC during Q1 2026, with 13 buyers accumulating $89.0M in holdings (net +$17.9M) against 6 sellers reducing $26.0M. The buying is dominated by active asset managers (Marshall Wace, First Eagle, Adage Capital) and a mega-passive fund (Morgan Stanley doubling its stake), while the selling includes a full exit by quant fund Point72 and trims by Wasatch Advisors and Voloridge. The cluster suggests a shared thesis around AtriCure's surgical innovation pipeline, though the 45-day reporting lag and the stock's negative T+20 drift on prior neutral reports warrant caution.
Key Financial Metrics
Institutional Positions
Net institutional flow: $8.1M
▲ Buyers (13)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Marshall Wace | ADD | +60.7% | $41.9M | $5.7M |
| Morgan Stanley | DOUBLED | +107.8% | $20.5M | $6.8M |
| First Eagle Investment Management | DOUBLED | +124.8% | $7.5M | $2.9M |
| Sei Investments | ADD | +64.7% | $7.4M | $1.2M |
| First Trust Advisors | ADD | +60.7% | $5.4M | $742.0K |
| Adage Capital Partners Gp | ADD | +36.1% | $4.3M | -$80.4K |
| Ameriprise Financial | ADD | +95.2% | $1.5M | $433.0K |
| Cwm | DOUBLED | +254.8% | $250.0K | $250.0K |
| Wealth Enhancement Advisory Services | ADD | +27.8% | $236.0K | -$27.2K |
| Allworth Financial | DOUBLED | +1053.6% | $9.0K | $8.0K |
▼ Sellers (6)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Point72 | EXIT | -100% | $11.0M | -$11.0M |
| Wasatch Advisors | TRIM | -28.2% | $14.0M | -$6.8M |
| Voloridge Investment Management | TRIM | -55.9% | $8.7M | -$5.9M |
| Prudential Financial | TRIM | -50.1% | $2.4M | -$1.5M |
| Brevan Howard Capital Management | TRIM | -52.4% | $790.0K | -$519.3K |
| Mackenzie Financial | TRIM | -38.1% | $545.0K | -$305.0K |
Key Facts
- 13 institutional buyers vs 6 sellers in Q1 2026; net buying of $17.9M across $89.0M in holdings
- Marshall Wace added 554K shares (+60.7%), now holding $41.9M — the largest buyer
- Morgan Stanley doubled its position (+107.8%), adding $6.8M to reach $20.5M
- Point72 fully exited its 277.9K-share position ($11.0M), the largest seller
- Wasatch Advisors trimmed 99.9K shares (-28.2%), reducing its stake by $6.8M to $7.2M
- Active asset managers dominate the buying; only one mega-passive fund (Morgan Stanley) is among buyers
- Analyst consensus is 81% bullish (13 Buy, 3 Hold, 0 Sell) on ATRC
Financial Impact
13 institutions accumulated $89.0M in ATRC (net +$17.9M) while 6 institutions reduced holdings by $26.0M, for a net institutional inflow of approximately $8.1M
Risk Factors
- 13F data is 45+ days stale; the cluster may have been partially or fully unwound
- Point72's full exit suggests a potential catalyst or risk that active managers may have missed
- ATRC's prior neutral reports showed negative T+20 drift (-3.93% avg), indicating the stock has been underperforming despite institutional interest
- Selling by Wasatch Advisors ($6.8M trim) and Voloridge ($5.9M trim) offsets some of the buying conviction
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-ATRC-2026-Q1 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 14, 2026 18d ago | Insider Cluster | $55.79 $58.32 | ▲ +4.53% | ▲ +2.88% | — |
Aug 7, 2026 8w ago | Insider Cluster | $41.39 $44.30 | ▲ +7.03% | ▲ +6.63% | — |
Jul 30, 2026 9w ago | Insider Cluster | $40.15 $39.49 | ▼ −1.64% | ▼ −5.27% | — |
Jul 30, 2026 9w ago | Insider Cluster | $40.15 $39.49 | ▼ −1.64% | ▼ −5.27% | — |
Jul 23, 2026 10w ago | 8-K | $35.04 $40.15 | ▲ +14.58% | ▲ +14.21% | — |
Jun 14, 2026 15w ago | Institutional Cluster | $27.98 $28.44 | ▲ +1.64% | ▲ +3.03% | — |
Jun 11, 2026 16w ago | Institutional Cluster | $28.41 $27.12 | ▲ +4.54% | ▲ +4.97% | — |
May 22, 2026 19w ago | Insider Cluster | $28.29 $26.48 | ▼ −6.40% | ▼ −8.07% | — |
May 5, 2026 21w ago | 8-K | $28.01 $26.69 | ▼ −4.71% | ▼ −5.84% | — |
Apr 6, 2026 25w ago | DEFA14A | $29.19 $28.66 | ▼ −1.82% | ▼ −5.95% | — |
US Market Status
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