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Atlassian Corp (NASDAQ:TEAM), the $43.4 billion software company known for its impressive 83% gross profit margins, saw CEO and Co-Founder Michael Cannon-Brookes sell 7,663 shares of Class A Common Stock on October 23, 2025, according to a new SEC filing. The sales were executed at prices ranging from $163.9673 to $167.932, netting a total of $1.26 million.
The transactions were executed in multiple trades and were carried out under a pre-arranged Rule 10b5-1 trading plan adopted by Cannon-Brookes on February 20, 2025.
Following the transactions, Cannon-Brookes indirectly owns 360,255 shares of Atlassian Corp through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust. While the company isn’t currently profitable, analysts tracked by InvestingPro expect a return to profitability this year, with 10+ additional insights available to subscribers.
In other recent news, Atlassian Corporation has completed its acquisition of The Browser Company of New York Inc., known for creating the Dia and Arc browsers. This move aims to develop an AI-powered browser to assist knowledge workers in managing multiple SaaS applications. In terms of analyst ratings, KeyBanc has lowered its price target for Atlassian to $210, citing general AI risk concerns, but maintains an Overweight rating, indicating a positive outlook on the company’s position. Canaccord Genuity reaffirmed its Buy rating with a $230 price target, highlighting Atlassian’s initiatives to transition Data Center customers to Cloud deployments, which could lead to pricing increases. Meanwhile, Bernstein SocGen Group has kept its Outperform rating and a $296 price target, reassessing revenue impacts from upcoming license changes in Data Center contracts. Wells Fargo initiated coverage with an Overweight rating and a $216 price target, noting the company’s cloud and AI potential, strong pricing, and opportunities for upsell and cross-sell. These developments reflect a range of perspectives from analysts on Atlassian’s potential and strategic moves in the market.
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