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Michael Cannon-Brookes, the CEO and Co-Founder of Atlassian Corp (NASDAQ:TEAM), recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Cannon-Brookes disposed of shares worth approximately $1.9 million. The sales occurred on March 7, 2025, with prices ranging from $229.9957 to $250.0025 per share. The timing is notable as the stock has experienced a significant 12.89% decline over the past week, though it maintains a robust 47% gain over the last six months. InvestingPro analysis indicates the stock is trading above its Fair Value.
These transactions were carried out under a pre-established Rule 10b5-1 trading plan, which was adopted by Cannon-Brookes in February 2024. After the sales, Cannon-Brookes continues to hold a substantial number of shares, totaling 127,668 shares, indirectly owned through a trust. The company maintains impressive gross profit margins of 81.82% and has achieved strong revenue growth of 23.19% over the last twelve months.
Atlassian Corp, known for its software development and collaboration tools, has been a prominent player in the tech industry, and these recent transactions by its CEO are likely to be of interest to investors and market watchers. With a market capitalization of $56.52 billion and analyst price targets ranging from $270 to $420, InvestingPro subscribers can access 12 additional exclusive tips and a comprehensive Pro Research Report for deeper insights into TEAM’s valuation and growth prospects.
In other recent news, Atlassian Corp Plc reported impressive financial results for Q4 2024, surpassing both earnings and revenue forecasts. The company’s earnings per share were $0.96, significantly exceeding the projected $0.62, while revenue reached $1.29 billion, surpassing expectations of $1.23 billion. Subscription revenue grew by 30% year over year, contributing to the company’s robust performance. Additionally, Atlassian’s gross margins improved to 85%, up 100 basis points from the previous year. The company has been successfully scaling past $5 billion in annual run rate revenue, supported by a record number of deals exceeding $1 million in annual contract value. Furthermore, Atlassian aims to double its revenue to $10 billion by FY 2026, with expectations of maintaining non-GAAP operating margins above 25%. The company remains cautious in its guidance due to macroeconomic uncertainty but continues to invest in its enterprise go-to-market strategies.
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