Atlassian CEO Cannon-Brookes sells $2.26 million in stock

Published 01/03/2025, 00:02
Atlassian CEO Cannon-Brookes sells $2.26 million in stock

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 recent SEC filing, Cannon-Brookes sold shares of Atlassian’s Class A common stock on February 27, 2025, amounting to a total of $2.26 million. The shares were sold at prices ranging from $278.57 to $294.54 per share. The transaction comes as Atlassian, now valued at $73.87 billion, has seen its stock surge 68% over the past six months. InvestingPro analysis indicates the stock is currently trading above its Fair Value.

The transactions were executed under a Rule 10b5-1 trading plan that Cannon-Brookes had adopted on February 8, 2024. Following these sales, Cannon-Brookes holds 174,856 shares indirectly through a trust. These transactions highlight ongoing strategic decisions by Atlassian’s leadership regarding their stock holdings. The company maintains strong fundamentals with impressive gross profit margins of 82% and revenue growth of 23% in the last twelve months. For deeper insights into Atlassian’s financial health and executive transactions, access the comprehensive Pro Research Report available on InvestingPro.

In other recent news, Atlassian Corp Plc reported strong financial results for Q4 2024, outperforming market expectations with earnings per share (EPS) of $0.96, significantly above the forecasted $0.62. The company’s revenue reached $1.29 billion, exceeding the anticipated $1.23 billion, marking a 4.9% increase over expectations. Atlassian’s subscription revenue grew by 30% year over year, contributing to its robust performance. Additionally, the company’s gross margins improved to 85%, up 100 basis points from the previous year. The firm continues to expand its enterprise market presence, with a record number of deals exceeding $1 million in annual contract value.

In other developments, Atlassian aims to double its revenue to $10 billion by FY 2026, while maintaining non-GAAP operating margins above 25%. The company remains cautious in its guidance due to macroeconomic uncertainties but plans to invest in its enterprise go-to-market strategies. Analyst feedback from firms like BMO Capital Markets and Barclays (LON:BARC) highlights the company’s focus on expanding within larger enterprise accounts and leveraging AI capabilities. Atlassian’s strategic initiatives and recent achievements reflect its commitment to scaling its operations and enhancing customer value.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.