Atlassian shares rise as index-rebalance overhang fades and investors look ahead to earnings

Atlassian Corporation (TEAM) is up 4.4% today. Here is some analysis on what might have caused this price movement.

Analysis: TEAM’s move looks tied to technical and positioning factors: today is the effective date of its removal from the Nasdaq-100, and stocks sometimes rebound after index-rebalance selling pressure clears. This could also be a sentiment reset ahead of Atlassian’s scheduled fiscal Q3 results later this month.

Details:

Nasdaq disclosed that Sandisk would replace Atlassian in the Nasdaq-100 prior to the market open on Monday, April 20, 2026, a change that can drive large, rules-based fund flows around the effective date.

Atlassian has said it will report fiscal third-quarter 2026 results after the market close on Thursday, April 30, 2026, with a shareholder letter posted alongside the release.

In its fiscal Q2 2026 results (released February 5, 2026), Atlassian reported total revenue of $1.586 billion (+23% year-over-year) and cloud revenue of $1.067 billion (+26% year-over-year), alongside remaining performance obligations of $3.814 billion (+44% year-over-year).

That same Q2 update included fiscal 2026 targets calling for approximately 22% total revenue growth year-over-year, which may be supporting expectations into the next print.

Sources:

Nasdaq (GlobeNewswire), Atlassian Investor Relations, Business Wire

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 915 times in the past 6 months. Of those trades, 2 have been purchases and 913 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 411 sales selling 567,210 shares for an estimated $85,044,809.
MICHAEL CANNON-BROOKES (CEO, Co-Founder) has made 0 purchases and 411 sales selling 567,210 shares for an estimated $85,044,706.
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.

$TEAM Hedge Fund Activity

We have seen 424 institutional investors add shares of $TEAM stock to their portfolio, and 391 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.

$TEAM Analyst Ratings

Wall Street analysts have issued reports on $TEAM in the last several months. We have seen 5 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
BMO Capital issued a "Outperform" rating on 10/24/2025

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 18 analysts offer price targets for $TEAM in the last 6 months, with a median target of $150.0.

Here are some recent targets:

Ittai Kidron from Oppenheimer set a target price of $100.0 on 04/17/2026
Keith Weiss from Morgan Stanley set a target price of $120.0 on 04/16/2026
Derrick Wood from TD Cowen set a target price of $85.0 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
Jason Celino from Keybanc set a target price of $130.0 on 04/01/2026
Ryan Macwilliams from Wells Fargo set a target price of $120.0 on 03/17/2026

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.