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Atlassian Corp (NASDAQ:TEAM) CEO Michael Cannon-Brookes, also a director and a ten percent owner, sold 7,665 shares of Class A Common Stock on September 19, 2025, according to a Form 4 filing with the Securities and Exchange Commission. The $44.65 billion market cap company, known for its impressive 82.8% gross margins, has seen its stock decline 25.6% over the past six months.
The sales were executed at weighted average prices ranging from $169.0488 to $171.063, resulting in a total transaction value of $1,297,835. According to InvestingPro, the stock is currently trading near its Fair Value, while 22 analysts have recently revised their earnings expectations downward for the upcoming period.
The shares are held indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust. These transactions were executed under a pre-arranged Rule 10b5-1 trading plan adopted by Cannon-Brookes on February 20, 2025. Following the reported transactions, Cannon-Brookes indirectly owns 53,655 shares. For deeper insights into Atlassian’s valuation and financial health metrics, access the comprehensive Pro Research Report available exclusively on InvestingPro.
In other recent news, Atlassian Corporation announced a definitive agreement to acquire the engineering intelligence company DX for approximately $1 billion in cash and restricted stock. This acquisition aims to help enterprises measure the effectiveness of their artificial intelligence investments in engineering teams. Mizuho has reiterated an Outperform rating on Atlassian following this announcement, maintaining a price target of $235.00. In addition, Cantor Fitzgerald continues to hold an Overweight rating with a $240.00 price target, noting the opportunity for Atlassian to transition Data Center customers to its cloud platform. William Blair also reiterated its Outperform rating, highlighting Atlassian’s valuation relative to its software peers.
Furthermore, Atlassian has made a significant change to its Board of Directors by appointing AI entrepreneur Jason Warner, effective October 1, 2025. Warner will replace Heather Mirjahangir Fernandez, who will retire after a decade of service. These developments underscore Atlassian’s strategic moves to enhance its AI capabilities and leadership structure.
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