Director Scott Farquhar trims TEAM stake by 20% in scheduled sale
Rhea-AI Filing Summary
Atlassian (NASDAQ:TEAM) filed a Form 4 revealing that co-founder, director and 10% owner Scott Farquhar sold 7,665 Class A shares on 06/24/2025 pursuant to a Rule 10b5-1 plan adopted 02/12/2025.
Weighted-average sale prices ranged from $195.20 – $200.70, generating roughly $1.52 million in proceeds. The shares were held through Farquhar Investment Partnership No. 2; its ownership fell from 38,325 to 30,660 shares, a reduction of about 20%. No derivative transactions were reported.
The insider remains a director and 10% holder. While pre-scheduled sales mitigate timing concerns, investors often view sizable disposals as a potential sentiment signal.
Positive
- None.
Negative
- Director & 10% owner sold 7,665 shares (~20% of stake) worth $1.52 M, potentially signaling reduced insider confidence despite scheduled plan
Insights
TL;DR: $1.5 M sale trims Farquhar’s stake 20%; pre-planned but still a bearish sentiment indicator.
The transaction’s $1.52 million size easily tops the $1 M materiality threshold and removes 7,665 shares—about one-fifth of the partnership’s prior holdings. Although executed under a 10b5-1 plan, the timing coincides with TEAM’s stock near the $200 level, suggesting opportunistic price realization. Post-sale ownership of 30,660 shares leaves the co-founder with meaningful exposure, yet reduced alignment can be read as a mild negative signal for near-term momentum traders. No derivative hedges were disclosed, so exposure is unlevered. Historically, clustered insider selling in growth software names often precedes short-term under-performance, though long-term impact is mixed. Investors should monitor subsequent filings to see if sales continue or if other executives follow suit.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Class A Common Stock | 850 | $195.703 | $166K |
| Sale | Class A Common Stock | 900 | $197.1785 | $177K |
| Sale | Class A Common Stock | 1,078 | $200.3063 | $216K |
| Sale | Class A Common Stock | 50 | $200.70 | $10K |
| Sale | Class A Common Stock | 1,944 | $198.3394 | $386K |
| Sale | Class A Common Stock | 2,843 | $199.2161 | $566K |
Footnotes (1)
- This transaction was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on February 12, 2025. This transaction was executed in multiple trades during the day at prices ranging from $195.20 to $196.09. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected. Shares are held by Farquhar Investment Partnership No. 2. This transaction was executed in multiple trades during the day at prices ranging from $196.69 to $197.57. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected. This transaction was executed in multiple trades during the day at prices ranging from $199.70 to $200.66. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected. This transaction was executed in multiple trades during the day at prices ranging from $197.70 to $198.68. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected. This transaction was executed in multiple trades during the day at prices ranging from $198.70 to $199.69. The weighted-average price is reported above. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transactions were effected.
