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Atlassian Corp (NASDAQ:TEAM), a $52.46 billion software company with impressive 82.31% gross profit margins, saw CEO and Co-Founder Michael Cannon-Brookes sell 7,668 shares of Class A Common Stock on July 23, 2025, according to a Form 4 filing with the Securities and Exchange Commission. The sales, executed under a pre-arranged 10b5-1 trading plan, resulted in gross proceeds of $1.55 million. According to InvestingPro analysis, the stock currently appears slightly overvalued relative to its Fair Value.
The shares were sold in multiple transactions with prices ranging from $197.13 to $204.5827. Specifically, the transactions included sales of 50 shares at a weighted average price of $197.13, 576 shares at $200.8075, 1057 shares at $204.5827, 2383 shares at $202.8522, 800 shares at $202.1059, 300 shares at $198.6759, 2189 shares at $203.7186 and 310 shares at a weighted average price of $199.6284. The company has shown strong performance with 19.12% revenue growth over the last twelve months. For deeper insights into insider trading patterns and comprehensive financial analysis, explore InvestingPro, which offers exclusive ProTips and detailed research reports.
Following these transactions, Cannon-Brookes indirectly owns 367,920 shares of Atlassian Class A Common Stock through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
In other recent news, Atlassian Corporation’s third-quarter fiscal year 2025 results were in line with expectations, although the company faced challenges with billings due to fewer multi-year Data Center deals, impacting Marketplace revenue. However, the company reported stronger-than-anticipated free cash flow and a better-than-expected rate of cloud migrations. Moody’s Ratings upgraded Atlassian’s senior unsecured notes to Baa2 from Baa3, maintaining a stable outlook and anticipating revenue growth of 20% or more over the next 12 to 24 months, driven by cloud subscription revenues.
Capital One (NYSE:COF) downgraded Atlassian’s stock from Overweight to Equal-weight, citing concerns over AI competition and valuation challenges. Meanwhile, Bernstein reiterated an Outperform rating with a $310 price target, noting significant investor interest despite ongoing concerns. Cantor Fitzgerald adjusted its price target to $256 while maintaining an Overweight rating, reflecting the recent quarterly outcomes. Stephens also revised its price target to $221, maintaining an Equal Weight rating, and highlighted the need for further clarity on future growth rates. These developments reflect the varied perspectives among analysts regarding Atlassian’s financial outlook and market position.
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