Atlassian Corporation (NASDAQ: TEAM) is a software company that builds tools to help teams collaborate, plan projects, and manage workflows, with products like Jira, Confluence, and Trello.
The stock trades near $169 per share with a market value of about $43.8 billion. Once a fast-rising SaaS leader, it has pulled back from highs above $300, reflecting both market caution and ongoing questions about profitability.
Atlassian has become a cornerstone in enterprise collaboration, powering workflows for companies worldwide, and its sticky customer base and strong 82.8% gross margins highlight the durability of its platform. Even so, consistent insider selling and uneven institutional positioning suggest investors are split on whether Atlassian can turn its reach into sustainable earnings.
While co-founders Mike Cannon-Brookes and Scott Farquhar remain influential through their stakes, most Atlassian shares are now held by major asset managers, index funds, and hedge funds.
Looking at who owns Atlassian and how insiders are trading gives us a clear read on how investors really feel about the company right now.
Who Are Atlassian’s Top Shareholders?
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Atlassian’s shareholder base is a mix of the world’s largest passive managers and a handful of active funds making bold moves. The presence of Vanguard and BlackRock shows the steady support that comes from index flows, while hedge funds and active managers highlight where conviction is strongest or weakest.
Top Shareholders
- Vanguard Group: 17.36M shares (10.5%), ~$2.9B. Added 433K shares (+2.6%).
- Baillie Gifford: 8.53M shares (5.2%), ~$1.4B. Trimmed 167K shares (-1.9%).
- BlackRock: 6.74M shares (4.1%), ~$1.1B. Added 126K shares (+1.9%).
- Artisan Partners: 3.88M shares (2.4%), ~$648M. Increased holdings by 66.3%.
- State Street: 3.79M shares (2.3%), ~$634M. Flat position.
- Two Sigma: 3.27M shares (2.0%), ~$547M. Boosted stake by 183%.
One highlight from last quarter is the surge of hedge fund interest in Atlassian. Bridgewater Associates, led by Ray Dalio, increased its stake by more than 1,300%, now holding about 291,000 shares worth $59 million.
At the same time, Hudson Bay Capital Management boosted its position by 874%, lifting its stake to 237,000 shares valued at $48 million. Together, these moves signal that high-profile funds are willing to make aggressive bets on Atlassian despite recent stock volatility.
Vanguard and BlackRock provide passive stability, while Artisan and Two Sigma made aggressive bets that signal confidence in the company’s long-term growth. Baillie Gifford’s trim points to some caution among long-term holders.
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Atlassian’s Recent Insider Trades
Insider trading activity at Moderna has been limited in recent months and mostly involved small Atlassian builds software tools like Jira, Confluence, and Trello that help teams collaborate and manage projects. Recent insider filings show that its co-founders have been gradually selling small blocks of stock.
- Mike Cannon-Brookes: Sold 150 to 2,711 shares in multiple August transactions at ~$158–163.
- Scott Farquhar: Similar small sales ranging from 150 to 2,711 shares at comparable prices.
These trades appear like gradual, repeated sales, and there has been no reported insider buying.
Insider sales may be linked to diversification or planned programs, but the absence of insider buying suggests leadership is not eager to increase exposure at current prices. This can leave outside investors questioning whether the stock is fully valued in the near term.
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What the Ownership & Insider Trade Data Tell Us
Atlassian’s ownership shows mixed signals. Vanguard and BlackRock provide stability through index inclusion, while hedge funds like Artisan Partners and Two Sigma have been buying aggressively, signaling confidence in long-term growth. On the other side, Baillie Gifford and other long-term holders trimmed exposure, showing caution around profitability and valuation.
Insiders add uncertainty. Co-founders Mike Cannon-Brookes and Scott Farquhar continue to sell shares with no insider buying, which may reflect diversification but makes it harder to view the stock as undervalued.
Ownership trends are divided. Institutions are cautious, hedge funds are selectively optimistic, and insiders are reducing exposure. Until Atlassian proves it can turn scale and high margins into sustainable profits, sentiment is likely to stay split.
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