Atlassian (TEAM) slides 5.5% as investors refocus on restructuring costs and GAAP losses

Atlassian (TEAM) is down 5.5% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears to be driven less by a single breaking headline and more by investors revisiting Atlassian’s recent quarterly update, where strong growth came alongside sizeable restructuring charges and continued GAAP losses. This could also reflect profit-taking and broader sensitivity to valuation and profitability across software stocks.

Details:

In its fiscal Q3 2026 results (quarter ended March 31, 2026), Atlassian reported revenue of $1.787 billion, with cloud revenue of $1.132 billion, alongside remaining performance obligations of about $4.0 billion.

The same quarterly release highlighted GAAP operating loss and noted restructuring charges of roughly $223.8 million, which weighed on reported profitability even as non-GAAP operating margin remained much higher.

Management’s targets for fiscal year 2026 included total revenue growth of about 24% and a GAAP operating margin expectation around (2.0)%, which can keep attention on the pace to sustained GAAP profitability.

In March 2026, Atlassian announced a restructuring plan that reduced headcount by about 10% (~1,600 employees) to self-fund investment in AI and enterprise sales and strengthen its financial profile.

Sources:

U.S. SEC, Atlassian Investor Relations, Atlassian Blog

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$TEAM Insider Trading Activity

$TEAM insiders have traded $TEAM stock on the open market 722 times in the past 6 months. Of those trades, 1 have been purchases and 721 have been sales.

Here’s a breakdown of recent trading of $TEAM stock by insiders over the last 6 months:

SCOTT FARQUHAR has made 0 purchases and 315 sales selling 452,235 shares for an estimated $66,249,187.
MICHAEL CANNON-BROOKES (CEO, Co-Founder) has made 0 purchases and 315 sales selling 452,235 shares for an estimated $66,249,113.
RAJEEV BASHYAM RAJAN (Chief Technology Officer) has made 0 purchases and 21 sales selling 15,750 shares for an estimated $1,884,419.
ANUTTHARA BHARADWAJ (President) has made 0 purchases and 6 sales selling 9,847 shares for an estimated $1,501,235.
JOSEPH LEO BINZ (Chief Financial Officer) has made 0 purchases and 21 sales selling 10,843 shares for an estimated $1,318,639.
BRIAN DUFFY (Chief Revenue Officer) has made 0 purchases and 21 sales selling 5,612 shares for an estimated $689,623.
GENE LIU (Chief Accounting Officer) has made 0 purchases and 21 sales selling 2,110 shares for an estimated $252,368.
SCOTT BELSKY purchased 1,672 shares for an estimated $247,506
SHONA L BROWN sold 528 shares for an estimated $86,064

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$TEAM Hedge Fund Activity

We have seen 389 institutional investors add shares of $TEAM stock to their portfolio, and 452 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 8,760,091 shares (-76.4%) from their portfolio in Q4 2025, for an estimated $1,420,361,154
AQR CAPITAL MANAGEMENT LLC added 5,769,788 shares (+291.4%) to their portfolio in Q4 2025, for an estimated $935,513,426
SANDS CAPITAL MANAGEMENT, LLC removed 2,505,196 shares (-94.8%) from their portfolio in Q4 2025, for an estimated $406,192,479
D. E. SHAW & CO., INC. removed 2,161,018 shares (-63.1%) from their portfolio in Q4 2025, for an estimated $350,387,458
COATUE MANAGEMENT LLC removed 2,077,303 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $336,813,908
UBS GROUP AG added 2,025,530 shares (+247.1%) to their portfolio in Q1 2026, for an estimated $138,242,422
JPMORGAN CHASE & CO removed 1,898,588 shares (-79.1%) from their portfolio in Q4 2025, for an estimated $307,837,058

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$TEAM Analyst Ratings

Wall Street analysts have issued reports on $TEAM in the last several months. We have seen 3 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

BTIG issued a "Buy" rating on 05/01/2026
Mizuho issued a "Outperform" rating on 01/21/2026
Bernstein issued a "Outperform" rating on 11/18/2025

To track analyst ratings and price targets for $TEAM, check out Quiver Quantitative's $TEAM forecast page.

$TEAM Price Targets

Multiple analysts have issued price targets for $TEAM recently. We have seen 19 analysts offer price targets for $TEAM in the last 6 months, with a median target of $130.0.

Here are some recent targets:

Allan Verkhovski from BTIG set a target price of $130.0 on 05/07/2026
Raimo Lenschow from Barclays set a target price of $112.0 on 05/07/2026
Joel Fishbein from Truist Securities set a target price of $100.0 on 05/01/2026
Karl Keirstead from UBS set a target price of $95.0 on 05/01/2026
Derrick Wood from TD Cowen set a target price of $105.0 on 05/01/2026
Fatima Boolani from Citigroup set a target price of $110.0 on 05/01/2026
Steve Koenig from Macquarie set a target price of $130.0 on 05/01/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.