Atlassian slides as investors revisit index-removal and cloud-transition concerns

Atlassian Corporation (TEAM) is down 3.7% today. Here is some analysis on what might have caused this price movement.

Analysis: The move looks consistent with risk-off trading in higher-multiple software names, with TEAM still sensitive to technical and passive-flow effects after its removal from the Nasdaq-100 earlier this year. Ongoing debate about the pace and profitability of its cloud transition (and how quickly newer AI-driven offerings translate into durable revenue) may also be weighing on sentiment.

Details:

Atlassian was replaced in the Nasdaq-100 effective April 20, 2026, which can trigger forced selling by index-tracking funds and amplify short-term volatility.

BTIG lowered its price target to $110 from $140 while maintaining a Buy rating, highlighting investor focus on cloud-transition execution and valuation sensitivity.

Atlassian introduced “Flex,” a new enterprise commercial model positioned to help large customers adopt its AI-powered platform with more spending flexibility.

In a prior restructuring disclosure, Atlassian said it planned role eliminations and estimated related charges, as it rebalances investments toward AI and enterprise go-to-market.

Sources:

Nasdaq IR, Yahoo Finance, Atlassian (company blog), SEC

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 487 times in the past 6 months. Of those trades, 0 have been purchases and 487 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 202 sales selling 283,605 shares for an estimated $40,437,348.
MICHAEL CANNON-BROOKES (CEO, Co-Founder) has made 0 purchases and 202 sales selling 283,605 shares for an estimated $40,437,304.
BRIAN DUFFY (Chief Revenue Officer) has made 0 purchases and 27 sales selling 14,112 shares for an estimated $1,201,990.
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.
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 346 institutional investors add shares of $TEAM stock to their portfolio, and 546 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
SANDS CAPITAL MANAGEMENT, LLC removed 2,505,196 shares (-94.8%) from their portfolio in Q4 2025, for an estimated $406,192,479
VOYAGER GLOBAL MANAGEMENT LP added 2,500,000 shares (+185.2%) to their portfolio in Q1 2026, for an estimated $170,625,000
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

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 18 analysts offer price targets for $TEAM in the last 6 months, with a median target of $125.0.

Here are some recent targets:

Ittai Kidron from Oppenheimer set a target price of $110.0 on 05/11/2026
Raimo Lenschow from Barclays set a target price of $112.0 on 05/07/2026
Allan Verkhovski from BTIG set a target price of $130.0 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
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

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.