Atlassian (NASDAQ:TEAM) Shares Down 7.2% Following Insider Selling

Atlassian Corporation PLC (NASDAQ:TEAM)’s stock price fell 7.2% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $106.71 and last traded at $105.5180. 448,177 shares traded hands during trading, a decline of 90% from the average session volume of 4,586,279 shares. The stock had previously closed at $113.70.

Specifically, CEO Michael Cannon-Brookes sold 7,665 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $116.40, for a total transaction of $892,206.00. Following the transaction, the chief executive officer owned 306,600 shares in the company, valued at approximately $35,688,240. This represents a 2.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Scott Farquhar sold 7,665 shares of Atlassian stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $116.40, for a total transaction of $892,206.00. Following the sale, the director owned 306,600 shares of the company’s stock, valued at $35,688,240. The trade was a 2.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In related news, CEO Michael Cannon-Brookes sold 7,665 shares of the company’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $119.15, for a total value of $913,284.75. Following the transaction, the chief executive officer directly owned 314,265 shares of the company’s stock, valued at $37,444,674.75. This represents a 2.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Wall Street Analyst Weigh In

TEAM has been the topic of several research analyst reports. KeyCorp dropped their price target on Atlassian from $250.00 to $210.00 and set an “overweight” rating on the stock in a research note on Thursday, October 23rd. Citigroup dropped their target price on Atlassian from $240.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 16th. Robert W. Baird reduced their price target on shares of Atlassian from $230.00 to $170.00 and set an “outperform” rating for the company in a research report on Monday, January 26th. Mizuho dropped their price objective on shares of Atlassian from $245.00 to $225.00 and set an “outperform” rating on the stock in a report on Wednesday, January 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $240.00 price objective on shares of Atlassian in a research note on Friday, October 31st. Twenty analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $227.60.

Atlassian News Summary

Here are the key news stories impacting Atlassian this week:

• Positive Sentiment: Atlassian announced a multi‑year partnership that integrates Anthropic’s Claude as the Atlassian Williams F1 Team’s “Official Thinking Partner,” raising the company’s profile in frontier AI integrations and offering potential product/commercial tie‑ins. Anthropic and Atlassian Williams F1 Team announce multi-year partnership
• Positive Sentiment: Analyst previews (Zacks) expect Q2 to benefit from continued cloud adoption, AI tooling and steady demand for Jira/Confluence — fundamental drivers that could support revenue and limit downside at upcoming earnings. Atlassian to Report Q2 Earnings: What’s in Store for the Stock?
• Positive Sentiment: Some outlets and analysts highlight large upside potential for Atlassian tied to AI adoption trends — a positive thematic signal that could support a recovery if execution and guidance match expectations. Software Bear Market: 2 AI Stocks to Buy…
• Neutral Sentiment: Marketing/PR items tied to the Williams F1 sponsorship (new livery, ads) increase brand visibility but are unlikely to move fundamentals on their own. Atlassian Williams F1 Team reveals bold new racing livery for 2026
• Neutral Sentiment: Reported short interest data shows effectively zero reported short shares and a 0.0 days‑to‑cover metric — a technical datapoint that currently appears immaterial to near‑term price pressure.
• Negative Sentiment: CEO Michael Cannon‑Brookes sold 7,665 shares (late Jan/early Feb), reducing his stake ~2.4%; repeated insider sales from top executives can weigh on investor sentiment even if proceeds are for diversification. SEC filing — CEO sale
• Negative Sentiment: Director/co‑founder Scott Farquhar sold an identical block of 7,665 shares on the same dates, amplifying concerns about insider conviction and contributing to near‑term selling pressure. SEC filing — Director sale

Atlassian Price Performance

The stock has a market capitalization of $27.63 billion, a PE ratio of -147.89, a P/E/G ratio of 17.61 and a beta of 0.88. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.26 and a quick ratio of 1.26. The stock’s fifty day moving average is $147.45 and its 200-day moving average is $159.96.

Institutional Investors Weigh In On Atlassian

Hedge funds have recently modified their holdings of the company. Capco Asset Management LLC acquired a new position in Atlassian in the 2nd quarter worth about $25,000. Physician Wealth Advisors Inc. increased its position in shares of Atlassian by 60.4% in the third quarter. Physician Wealth Advisors Inc. now owns 162 shares of the technology company’s stock valued at $26,000 after buying an additional 61 shares in the last quarter. Atlantic Union Bankshares Corp raised its stake in shares of Atlassian by 19,900.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 200 shares of the technology company’s stock worth $32,000 after buying an additional 199 shares during the period. Board of the Pension Protection Fund acquired a new position in shares of Atlassian during the 4th quarter worth approximately $32,000. Finally, Bogart Wealth LLC lifted its position in shares of Atlassian by 76.4% during the 4th quarter. Bogart Wealth LLC now owns 217 shares of the technology company’s stock valued at $35,000 after buying an additional 94 shares in the last quarter. 94.45% of the stock is owned by hedge funds and other institutional investors.

About Atlassian

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.