Atlassian Drops as Software Selloff Deepens on Enterprise Spending Fears

Atlassian (TEAM) is down 6.9% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver appears to be a broad software-sector selloff rather than a new company-specific announcement. Investor sentiment weakened after a major enterprise tech peer signaled that customers are shifting more budget toward AI infrastructure and away from traditional software spending, a read-through that hit collaboration and SaaS names like Atlassian especially hard.

Details:

A large software and IT services selloff spread across the market on July 14 after a peer’s preliminary update raised concern that enterprise customers are prioritizing data-center and AI infrastructure spending over software budgets.

Atlassian does not appear to have posted a fresh same-day news release on its investor relations page, which suggests the move was driven more by sector sentiment than by a new internal development.

Atlassian’s most recent quarterly update showed strong revenue growth and accelerating cloud growth, but it also included a GAAP operating loss tied in part to restructuring charges, leaving the stock sensitive to any renewed worries about software demand.

A March SEC filing also showed Atlassian cut about 10% of its workforce as it rebalanced spending toward AI, underscoring how closely investors are watching execution and profitability.

Sources:

Atlassian Investor Relations, SEC, MarketScreener

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 297 times in the past 6 months. Of those trades, 0 have been purchases and 297 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 106 sales selling 130,305 shares for an estimated $15,966,235.
MICHAEL CANNON-BROOKES (CEO, Co-Founder) has made 0 purchases and 106 sales selling 130,305 shares for an estimated $15,966,213.
BRIAN DUFFY (Chief Revenue Officer) has made 0 purchases and 30 sales selling 20,357 shares for an estimated $1,766,496.
JAMES CHUONG (Chief Financial Officer) has made 0 purchases and 9 sales selling 8,838 shares for an estimated $775,513.
RAJEEV BASHYAM RAJAN (Chief Technology Officer) has made 0 purchases and 11 sales selling 7,081 shares for an estimated $577,842.
JOSEPH LEO BINZ (Chief Financial Officer) has made 0 purchases and 11 sales selling 4,602 shares for an estimated $375,700.
GENE LIU (Chief Accounting Officer) has made 0 purchases and 24 sales selling 1,844 shares for an estimated $150,418.

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.

$TEAM Hedge Fund Activity

We have seen 299 institutional investors add shares of $TEAM stock to their portfolio, and 431 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

DNB ASSET MANAGEMENT AS added 4,087,510 shares (+102.4%) to their portfolio in Q1 2026, for an estimated $278,972,557
TWO SIGMA INVESTMENTS, LP added 3,733,168 shares (+408.2%) to their portfolio in Q1 2026, for an estimated $254,788,716
AQR CAPITAL MANAGEMENT LLC removed 3,599,663 shares (-46.4%) from their portfolio in Q1 2026, for an estimated $245,676,999
VOYAGER GLOBAL MANAGEMENT LP added 2,500,000 shares (+185.2%) to their portfolio in Q1 2026, for an estimated $170,625,000
UBS GROUP AG added 2,025,530 shares (+247.1%) to their portfolio in Q1 2026, for an estimated $138,242,422
POINT72 ASSET MANAGEMENT, L.P. removed 1,933,688 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $131,974,206
CARMIGNAC GESTION added 1,397,402 shares (+115.8%) to their portfolio in Q1 2026, for an estimated $95,372,686

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 2 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

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 $120.0.

Here are some recent targets:

Jason Celino from Keybanc set a target price of $115.0 on 07/08/2026
Keith Bachman from BMO Capital set a target price of $95.0 on 06/25/2026
Ittai Kidron from Oppenheimer set a target price of $110.0 on 05/11/2026
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
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.