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Atlassian (NASDAQ:TEAM) CEO and Co-Founder Michael Cannon-Brookes sold a total of 7,665 shares of Class A Common Stock on November 10, 2025, according to a Form 4 filing with the Securities and Exchange Commission. The sales were executed at prices ranging from $155.3307 to $160.27, resulting in a total transaction value of $1,211,062.
The transactions were executed in multiple trades and were carried out under a Rule 10b5-1 trading plan adopted by Cannon-Brookes on February 20, 2025. Following the reported transactions, Cannon-Brookes indirectly owns 268,275 shares through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
In other recent news, Atlassian Corporation has completed its acquisition of DX, a company specializing in developer intelligence platforms. This acquisition is intended to enhance Atlassian’s capabilities in measuring and improving developer productivity and providing visibility into artificial intelligence investments. The company also reported better-than-expected results for its fiscal first quarter of 2026, with strong cloud and total revenue growth, particularly in its Jira and Confluence products.
Several analyst firms have weighed in on Atlassian’s recent performance. Cantor Fitzgerald reiterated its Overweight rating and maintained a $240 price target, citing growth in AI capabilities. Truist Securities adjusted its price target from $230 to $210 but maintained a Buy rating, noting strong results driven by cloud migrations and seat count growth. Piper Sandler also reiterated an Overweight rating with a $300 price target, highlighting a slight acceleration in cloud growth due to customer migrations from on-premise solutions.
Additionally, Goldman Sachs reiterated its Buy rating with a $260 price target, acknowledging the positive impact of the Data Center End-of-Life transition on revenue and operating margins. These developments reflect Atlassian’s strategic focus on cloud-based solutions and its ongoing efforts to enhance its product offerings.
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