Atlassian (TEAM) slides as investors position ahead of earnings and digest a fresh price-target cut

Atlassian Corporation (TEAM) is down 5.0% today. Here is some analysis on what might have caused this price movement.

Analysis: The drop appears tied to pre-earnings positioning ahead of Atlassian’s fiscal Q3 results, alongside renewed caution from at least one firm that trimmed its price target while keeping a positive rating. More broadly, investor sensitivity around AI-driven competitive risk for software workflows may also be amplifying day-to-day volatility into the print.

Details:

Atlassian is scheduled to report third-quarter fiscal year 2026 results and host an earnings call after the market close on April 30, 2026.

BTIG maintained a Buy rating but lowered its price target to $110 from $140 ahead of the quarter, framing the change around forward modeling and AI-related concerns.

Options-style “event risk” behavior often increases into major software earnings, and the stock’s move suggests some investors reduced exposure ahead of the release.

This could also be partly a sympathy move with risk-off sentiment in software names where investors have been debating whether AI tools will pressure incumbents’ growth and pricing power.

Sources:

Atlassian Investor Relations, Investing.com, Sahm Capital, Barchart

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 833 times in the past 6 months. Of those trades, 2 have been purchases and 831 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 370 sales selling 505,890 shares for an estimated $74,998,889.
MICHAEL CANNON-BROOKES (CEO, Co-Founder) has made 0 purchases and 370 sales selling 505,890 shares for an estimated $74,998,793.
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.
SCOTT BELSKY has made 2 purchases buying 3,148 shares for an estimated $498,411 and 0 sales.
GENE LIU (Chief Accounting Officer) has made 0 purchases and 21 sales selling 2,110 shares for an estimated $252,368.
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.

$TEAM Hedge Fund Activity

We have seen 409 institutional investors add shares of $TEAM stock to their portfolio, and 418 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
JPMORGAN CHASE & CO removed 1,898,588 shares (-79.1%) from their portfolio in Q4 2025, for an estimated $307,837,058
MORGAN STANLEY added 1,657,309 shares (+52.4%) to their portfolio in Q4 2025, for an estimated $268,716,081

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.

$TEAM Analyst Ratings

Wall Street analysts have issued reports on $TEAM in the last several months. We have seen 4 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Mizuho issued a "Outperform" rating on 01/21/2026
BTIG issued a "Buy" rating on 01/13/2026
Bernstein issued a "Outperform" rating on 11/18/2025
Macquarie issued a "Outperform" rating on 11/03/2025

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 17 analysts offer price targets for $TEAM in the last 6 months, with a median target of $146.0.

Here are some recent targets:

Allan Verkhovski from BTIG set a target price of $110.0 on 04/28/2026
Raimo Lenschow from Barclays set a target price of $100.0 on 04/21/2026
Ittai Kidron from Oppenheimer set a target price of $100.0 on 04/17/2026
Derrick Wood from TD Cowen set a target price of $85.0 on 04/16/2026
Keith Weiss from Morgan Stanley set a target price of $120.0 on 04/16/2026
David Hynes from Canaccord Genuity set a target price of $150.0 on 04/15/2026
Gregg Moskowitz from Mizuho set a target price of $145.0 on 04/14/2026

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.