Atlassian slides as software selloff resumes amid AI-disruption fears and tariff-driven risk-off trading

Atlassian (TEAM) is down 8.3% today. Here is some analysis on what might have caused this price movement.

Analysis: TEAM’s drop appears tied to a renewed, broad selloff in software stocks as investors reassess which business models could be most disrupted by AI, compounded by a risk-off market session linked to fresh tariff headlines. With Atlassian already under pressure after its early-February earnings and ongoing “seat compression” worries, the stock likely moved more than the tape as sentiment weakened across the group.

Details:

U.S. equities fell sharply on February 23, 2026, with software names among the weakest areas as AI-disruption narratives resurfaced and tariff developments weighed on risk appetite.

Atlassian shares traded down to a fresh intraday low around $69.62 before a modest bounce, highlighting continued technical and sentiment pressure.

In its February 5, 2026 shareholder update for fiscal Q2, Atlassian posted roughly 23% year-over-year revenue growth to about $1.6 billion, including cloud revenue growth of about 26% and remaining performance obligations growth of about 44%.

A late-January investor-law-firm investigation announcement added to the overhang around the name, even if it was not necessarily the sole driver of today’s move.

Sources:

Financial Times, Associated Press, Atlassian (Investor Relations), PR Newswire, GuruFocus

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 1332 times in the past 6 months. Of those trades, 9 have been purchases and 1323 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 616 sales selling 866,145 shares for an estimated $134,056,405.
MICHAEL CANNON-BROOKES (CEO, Co-Founder) has made 0 purchases and 616 sales selling 866,145 shares for an estimated $134,056,264.
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.
SCOTT BELSKY has made 9 purchases buying 6,169 shares for an estimated $989,878 and 0 sales.
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.
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 450 institutional investors add shares of $TEAM stock to their portfolio, and 504 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
ARTISAN PARTNERS LIMITED PARTNERSHIP removed 3,878,133 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $619,337,840
WCM INVESTMENT MANAGEMENT, LLC removed 3,388,634 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $541,164,849
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

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 9 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
Canaccord Genuity issued a "Buy" rating on 10/22/2025
BWG Global issued a "Positive" rating on 10/14/2025

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 $175.0.

Here are some recent targets:

Fatima Boolani from Citigroup set a target price of $160.0 on 02/09/2026
Ryan Macwilliams from Wells Fargo set a target price of $155.0 on 02/06/2026
Ryan Macwilliams from Barclays set a target price of $165.0 on 02/06/2026
Ittai Kidron from Oppenheimer set a target price of $150.0 on 02/06/2026
Howard Ma from Guggenheim set a target price of $190.0 on 02/06/2026
Steve Koenig from Macquarie set a target price of $150.0 on 02/06/2026
Allan Verkhovski from BTIG set a target price of $140.0 on 02/06/2026

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.