Interactive Brokers shares jump as it secures spot in S&P 500
Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp (NASDAQ:TEAM), sold shares worth approximately $2.21 million on March 3, 2025. The sales involved a total of 8,498 shares of Class A Common Stock, with prices ranging from $273.5754 to $285.4333 per share. The transaction comes as Atlassian, currently valued at $71.9 billion, has seen its stock surge nearly 69% over the past six months, supported by strong revenue growth of 23% and impressive gross margins of 82%. Following these transactions, Cannon-Brookes retains ownership of 158,960 shares held by a trust. These sales were conducted as part of a pre-established Rule 10b5-1 trading plan. According to InvestingPro analysis, TEAM is currently trading above its Fair Value, with 22 analysts recently revising their earnings expectations upward. Discover more insights and 8 additional ProTips with an InvestingPro subscription, including detailed valuation metrics and growth projections.
In other recent news, Atlassian Corp Plc reported significant financial results for Q4 2024, surpassing market expectations. The company’s earnings per share (EPS) reached $0.96, notably higher than the forecasted $0.62, while revenue rose to $1.29 billion, exceeding the anticipated $1.23 billion. Atlassian’s subscription revenue saw a substantial year-over-year growth of 30%, contributing to its robust performance. The firm also improved its gross margins to 85%, marking a 100 basis point increase from the previous year. Atlassian’s strategic focus on enterprise markets is evident, with a record number of deals exceeding $1 million in annual contract value. In analyst updates, BMO Capital Markets and Barclays (LON:BARC) analysts expressed positive feedback on Atlassian’s enterprise growth and AI capabilities. The company remains committed to doubling its revenue to $10 billion by FY 2026, despite macroeconomic uncertainties. These recent developments highlight Atlassian’s strong execution and market positioning.
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