Atlassian CEO Cannon-Brookes sells $1.27 million in stock

Atlassian Corp (NASDAQ:TEAM) CEO and Co-Founder Michael Cannon-Brookes sold 7,515 shares of Class A Common Stock on October 21, 2025, according to a recent SEC filing. The company, currently valued at $44.4 billion, maintains impressive gross profit margins of 83% and is trading near InvestingPro’s Fair Value estimate. The sales, executed under a pre-arranged 10b5-1 trading plan, fetched a total of $1.27 million, with prices ranging from $159.2057 to $168.9209.

The transactions, indirectly held through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, altered Cannon-Brookes’ holdings to 375,585 shares following the sales.

In other recent news, Atlassian Corporation has completed its acquisition of The Browser Company of New York Inc., known for its Dia and Arc browsers. This move is part of Atlassian’s strategy to develop an AI-powered browser aimed at improving the management of multiple SaaS applications for knowledge workers. Additionally, Atlassian announced plans to acquire DX for $1 billion, with both acquisitions expected to close by the end of the year. Analyst firms have been active in their assessments of Atlassian, with Canaccord Genuity reiterating a Buy rating and a price target of $230, citing the company’s initiatives to transition Data Center customers to Cloud deployments. Bernstein SocGen Group also maintained its Outperform rating with a $296 price target, noting potential revenue impacts from license changes in Data Center contracts. Wells Fargo initiated coverage with an Overweight rating and a $216 price target, highlighting Atlassian’s cloud and AI potential. These developments indicate a focus on innovation and strategic growth for Atlassian.

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