Atlassian CEO Cannon-Brookes sells stock for $2.21 million

Published 04/03/2025, 23:04
Atlassian CEO Cannon-Brookes sells stock for $2.21 million

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.

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.