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Atlassian (NASDAQ:TEAM) CEO and Co-Founder Michael Cannon-Brookes sold 8,665 shares of Class A Common Stock on November 21, 2025, according to a Form 4 filing with the Securities and Exchange Commission. The sales, which totaled $1,103,929, were executed at prices ranging from $140.662 to $146.3636.
The filing indicates the transactions were executed pursuant to a Rule 10b5-1 trading plan adopted by Cannon-Brookes on February 20, 2025. Following the reported transactions, Cannon-Brookes indirectly holds 199,290 shares of Atlassian through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
In other recent news, Atlassian Corporation reported better-than-expected results for its fiscal first quarter of 2026. The company saw notable growth in both cloud revenue and total revenue, with products like Jira and Confluence experiencing increased seat growth. These results were achieved even after accounting for benefits related to the end-of-life strategy for its data center offerings. Additionally, Atlassian completed the acquisition of engineering intelligence firm DX, which aims to enhance developer productivity and provide insights into AI investments. Analyst firms have responded differently to these developments. Bernstein raised its price target for Atlassian to $304, citing a stronger contribution expected from the data center end-of-life strategy. Meanwhile, Truist Securities lowered its price target to $210 but maintained a Buy rating, reflecting confidence in the company’s cloud migration and upsell performance. Cantor Fitzgerald reiterated its Overweight rating with a $240 price target, noting the company’s growth in AI. These recent developments highlight Atlassian’s strategic moves and financial performance.
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