Atlassian CEO Michael Cannon-Brookes sells $1.56 million in stock

SAN FRANCISCO — Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp (NASDAQ:TEAM), recently sold a significant portion of his holdings in the company. According to a recent filing, Cannon-Brookes disposed of approximately $1.56 million worth of Class A Common Stock on April 11, 2025. The company, currently valued at $52.66 billion, has shown strong revenue growth of 23.19% over the last twelve months. InvestingPro analysis indicates the stock is trading near its Fair Value.

The sales occurred at prices ranging from $191.72 to $199.99 per share, with the stock currently trading at $200.99. Following these transactions, Cannon-Brookes holds 302,024 shares indirectly through a trust. These transactions were executed under a pre-established Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling stocks.

Atlassian, known for its collaboration and productivity software, continues to be a major player in the tech industry, maintaining impressive gross profit margins of 81.82%. The recent stock sales by Cannon-Brookes, who is also a significant shareholder, may draw attention from investors monitoring insider activity. For deeper insights into Atlassian’s financial health and growth prospects, including 8 additional ProTips, check out the comprehensive analysis available on InvestingPro.

In other recent news, Atlassian Corporation has announced significant changes to its Board of Directors. Enrique Salem, who has served nearly 12 years, has retired, and Karen Dykstra, former CFO of VMware, Inc., has been appointed as his replacement. Dykstra will also serve on the Audit Committee, bringing extensive financial expertise to the board. Meanwhile, several analyst firms have weighed in on Atlassian’s prospects following their recent Team ’25 conference. Macquarie upgraded Atlassian’s stock rating to Outperform with a new price target of $270, citing the strategic integration of its products and potential revenue outperformance. Cantor Fitzgerald maintained an Overweight rating and a $272 price target, highlighting new cloud offerings and the AI-driven Rovo platform. Stephens, on the other hand, reaffirmed an Equal Weight rating with a $255 target, noting both the potential and uncertainties surrounding Atlassian’s AI integration. These developments reflect Atlassian’s ongoing efforts to enhance its market position and product offerings.

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