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Atlassian (NASDAQ:TEAM) CEO Michael Cannon-Brookes sold a total of 7,655 shares of Class A Common Stock on November 4, 2025, for approximately $1.26 million. The sales occurred at weighted average prices ranging from $162.7879 to $173.93 per share. The transaction comes as Atlassian shares have declined 32.2% year-to-date, with the stock currently trading at $161.46, slightly below its InvestingPro Fair Value estimate.
The transactions were executed in multiple trades throughout the day, with prices ranging from $162.20 to $174.16 depending on the specific sale. Despite recent price volatility, Atlassian maintains impressive gross profit margins of 83.45%, reflecting the company’s strong underlying business model.
Following these transactions, Cannon-Brookes continues to indirectly own 298,935 shares of Atlassian Class A Common Stock through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
These sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on February 20, 2025.
In other recent news, Atlassian Corporation reported fiscal first-quarter 2026 results that surpassed analyst expectations, with notable growth in both cloud revenue and total revenue. The company experienced a 21% year-over-year increase in total revenue, exceeding the anticipated 18% growth. This impressive performance was driven by cloud migrations and seat count growth, with contributions from Jira and Confluence products. The transition from on-premise solutions to cloud-based offerings also played a significant role in Atlassian’s strong start to the fiscal year.
Goldman Sachs maintained its Buy rating on Atlassian, attributing a modest beat-and-raise result to mechanical tailwinds from the Data Center End-of-Life transition. Mizuho raised its price target to $245, citing robust cloud growth as a key factor. Cantor Fitzgerald reiterated its Overweight rating and $240 price target, emphasizing Atlassian’s AI growth. Piper Sandler also maintained its Overweight rating with a $300 price target, highlighting the acceleration in cloud growth.
Conversely, Truist Securities lowered its price target to $210 from $230, though it kept a Buy rating, acknowledging the better-than-expected top and bottom-line results. These developments highlight the varied perspectives among analysts regarding Atlassian’s financial trajectory.
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