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Atlassian Corp (NASDAQ:TEAM), the $52 billion market cap software company, saw CEO and Co-Founder Michael Cannon-Brookes sell a total of $1,521,715 worth of Class A Common Stock on June 24, 2025. The sales were executed in multiple transactions with prices ranging from $195.703 to $200.7 per share. According to InvestingPro analysis, the stock appears slightly overvalued at current levels, despite maintaining impressive gross profit margins of 82%.
The transactions involved the sale of 900 shares at a weighted average price of $197.1785, 50 shares at $200.70, 1944 shares at $198.3394, 850 shares at $195.703, 2844 shares at $199.2161 and 1077 shares at $200.3059.
Following these transactions, Cannon-Brookes indirectly owns 30,660 shares of Atlassian Corp. The shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.
The sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on February 20, 2025.
In other recent news, Atlassian Corporation has experienced several key developments. Moody’s Ratings upgraded Atlassian’s senior unsecured notes to Baa2 from Baa3, citing expectations of significant revenue growth, particularly in cloud subscriptions, over the next 12 to 24 months. Analysts from Cantor Fitzgerald and Stephens have adjusted their price targets for Atlassian, with Cantor Fitzgerald lowering the target to $256 and Stephens reducing it to $221, following Atlassian’s third-quarter fiscal year 2025 results. TD Cowen also revised its price target to $250, maintaining a Hold rating, while expressing caution about the broader economic environment and Atlassian’s ability to monetize artificial intelligence. Additionally, Atlassian announced a change in its board, with Enrique Salem retiring and Karen Dykstra, former CFO of VMware, joining as a new director. Dykstra will also serve on the Audit Committee, bringing her financial expertise to the company. These developments reflect a mix of positive and cautious sentiments from analysts and strategic moves by Atlassian’s management.
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