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Director Scott Farquhar, a director at Atlassian Corp (NASDAQ:TEAM), sold 7,665 shares of Class A Common Stock on November 26, 2025, according to a Form 4 filing with the Securities and Exchange Commission. The sales were executed in multiple trades with prices ranging from $147.60 to $149.00, resulting in total proceeds of approximately $1.13 million. The transaction comes as Atlassian shares trade near their 52-week low of $139.70, having declined nearly 30% over the past six months. According to InvestingPro data, the stock is currently considered undervalued based on its Fair Value assessment.
Specifically, Farquhar sold 1,650 shares at a weighted average price of $148.7565, and 6,015 shares at a weighted average price of $148.1568.
The shares are indirectly held by Farquhar Investment Partnership No. 2. The sales were executed pursuant to a Rule 10b5-1 trading plan adopted by Farquhar on February 12, 2025. Following the transactions, Farquhar indirectly holds 176,295 shares.
In other recent news, Atlassian Corporation reported better-than-expected results for its fiscal first quarter of 2026. The company saw significant growth in both its cloud revenue and total revenue, with products like Jira and Confluence experiencing an increase in seat numbers. These results were achieved even after adjusting for accounting benefits related to the end-of-life of data center offerings. In addition to its financial performance, Atlassian completed the acquisition of DX, an engineering intelligence firm. This acquisition is set to enhance Atlassian’s capabilities in measuring and improving developer productivity while providing insights into AI investments.
On the analyst front, Bernstein raised its price target for Atlassian to $304, maintaining an Outperform rating, citing a stronger contribution from the company’s Data Center end-of-life strategy. Meanwhile, Truist Securities lowered its price target to $210 but kept a Buy rating, acknowledging the company’s impressive top and bottom-line results. Cantor Fitzgerald reiterated an Overweight rating with a $240 price target, emphasizing Atlassian’s growth in AI. These developments reflect a period of strategic growth and strong performance for Atlassian.
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