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Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp (NASDAQ:TEAM), recently sold a substantial portion of his holdings in the company. According to a recent SEC filing, Cannon-Brookes disposed of shares worth approximately $1.72 million. The sales were executed on March 18, 2025, with prices ranging between $213.62 and $219.34 per share. The software giant, currently valued at over $60 billion, has demonstrated robust performance with impressive revenue growth of 23% and industry-leading gross margins of 82%.
The transactions were carried out under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for selling stocks, helping to avoid any accusations of insider trading. Following these transactions, Cannon-Brookes holds 71,532 shares indirectly through a trust. According to InvestingPro analysis, TEAM’s current trading price exceeds its Fair Value, with the stock showing significant momentum, gaining over 40% in the past six months. Discover more insights and 10+ additional ProTips for Atlassian in the comprehensive Pro Research Report.
In other recent news, Atlassian Corporation reported strong financial results for Q4 2024, exceeding both earnings and revenue expectations. The company’s earnings per share reached $0.96, significantly surpassing the forecasted $0.62, while revenue hit $1.29 billion, beating the expected $1.23 billion. These results reflect substantial growth in subscription revenue and improved gross margins, with subscription revenue growing 30% year over year and gross margins increasing to 85%. Additionally, KeyBanc Capital Markets maintained its Overweight rating on Atlassian, with a price target of $365, citing the company’s strong performance metrics and potential growth drivers. Meanwhile, Stephens initiated coverage on Atlassian with an Equal Weight rating and a price target of $255, noting the company’s broad market reach and competitive positioning. Despite these positive developments, analysts have highlighted the potential impact of macroeconomic uncertainties on future growth. Investors and analysts alike are closely monitoring Atlassian’s strategic initiatives and market positioning as the company aims to double its revenue by FY 2026.
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