Atlassian CEO Cannon-Brookes sells shares worth $1.5 million

Published 09/04/2025, 23:16
Atlassian CEO Cannon-Brookes sells shares worth $1.5 million

Michael Cannon-Brookes, the CEO and Co-Founder of Atlassian Corp (NASDAQ:TEAM), has recently sold shares of the company amounting to approximately $1.5 million. The transactions, which occurred on April 8, 2025, involved the sale of Class A Common Stock at prices ranging from $180.5129 to $198.2867 per share. The stock, currently trading at $209.79, appears overvalued according to InvestingPro analysis, despite strong revenue growth of 23% over the last twelve months.

Following these transactions, Cannon-Brookes retains ownership of 326,618 shares indirectly held by a trust. The sales were made under a prearranged trading plan, as noted in the filing. These transactions reflect a series of strategic sales executed in multiple trades throughout the day. With a market capitalization of $54.96 billion and analyst price targets ranging from $230 to $420, InvestingPro rates Atlassian's overall financial health as FAIR, offering subscribers access to comprehensive analysis and additional insights through their detailed Pro Research Report.

In other recent news, Atlassian Corporation reported strong financial results for Q4 2024, surpassing both earnings and revenue projections. The company achieved earnings per share of $0.96, significantly outperforming the forecast of $0.62, and reported revenue of $1.29 billion, exceeding the expected $1.23 billion. This robust performance was accompanied by a 14.92% surge in Atlassian's stock price in aftermarket trading, indicating strong investor confidence. Meanwhile, UBS adjusted Atlassian's stock price target from $330 to $230, maintaining a Neutral rating, citing budget scrutiny and modest seat expansion rates. Stephens initiated coverage of Atlassian with an Equal Weight rating and a $255 price target, highlighting the company's broad market potential and growth trajectory. KeyBanc reaffirmed its Overweight rating with a $365 price target, emphasizing Atlassian's strong performance metrics and potential growth drivers. These developments reflect varying analyst perspectives on Atlassian's market position amid a challenging economic environment.

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