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Atlassian (NASDAQ:TEAM) CEO and Co-Founder Michael Cannon-Brookes sold a total of $1.29 million in Class A Common Stock on October 22, 2025. The transaction comes as the $43.36 billion software company’s shares have declined 27% over the past six months, though InvestingPro data shows the stock is currently trading near its Fair Value. The sales, executed under a prearranged 10b5-1 trading plan, involved multiple transactions with prices ranging from $168.0763 to $170.6667.
According to a Form 4 filing with the Securities and Exchange Commission, Cannon-Brookes sold 450 shares at a weighted average price of $170.6667, 1,719 shares at $169.8251, 4,200 shares at $169.0684 and 1,296 shares at $168.0763.
Following these transactions, Cannon-Brookes indirectly owns 367,920 shares of Atlassian Corp Class A Common Stock through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
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 aims to develop an AI-powered browser tailored for knowledge workers, enhancing the management of multiple SaaS applications. Meanwhile, Bernstein SocGen Group maintained its Outperform rating and a $296 price target on Atlassian, reassessing revenue impacts from changes in Data Center license components. KeyBanc lowered its price target to $210, citing general AI risk, but kept an Overweight rating, indicating a favorable view of Atlassian’s position. Canaccord Genuity reiterated its Buy rating with a $230 price target, highlighting Atlassian as a "best-in-class asset" with initiatives to transition Data Center customers to Cloud deployments. Additionally, Wells Fargo initiated coverage with an Overweight rating and a $216 price target, emphasizing the company’s cloud and AI potential. These recent developments reflect a mix of strategic acquisitions and analyst perspectives on Atlassian’s growth trajectory.
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