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Atlassian Corp (NASDAQ:TEAM), the $57 billion market cap software company with impressive gross profit margins of 82%, saw its CEO and Co-Founder Michael Cannon-Brookes recently sell 7,948 shares of Class A Common Stock, according to a filing with the Securities and Exchange Commission. The transactions, executed on March 13, 2025, were part of a pre-arranged trading plan under Rule 10b5-1. The shares were sold at prices ranging from $208.21 to $222.96, totaling approximately $1.67 million. Following these sales, Cannon-Brookes holds 95,376 shares indirectly through a trust. The sale comes as Atlassian’s stock has declined 13% over the past week, despite posting a 27% gain over the last six months. According to InvestingPro analysis, which offers comprehensive insider trading patterns and 13 additional key insights for TEAM stock, the company’s current trading price suggests it is slightly overvalued relative to its Fair Value.
In other recent news, Atlassian Corporation has reported strong financial results for the fourth quarter of 2024, surpassing both earnings and revenue forecasts. The company posted earnings per share of $0.96, significantly exceeding the expected $0.62, while revenue reached $1.29 billion, surpassing the anticipated $1.23 billion. Atlassian’s subscription revenue saw a 30% year-over-year growth, contributing to improved gross margins of 85%, an increase of 100 basis points from the previous year. In addition to these financial achievements, KeyBanc Capital Markets has reiterated its Overweight rating on Atlassian with a price target of $365, citing the company’s strong performance metrics and potential near-term growth drivers. Analyst Jason Celino highlighted Atlassian as a "Rule of 40+" company, indicating a combination of growth rate and profit margin exceeding 40%. The company has also been recognized for its expanding footprint in the enterprise market, with a record number of deals exceeding $1 million in annual contract value. These developments reflect ongoing investor confidence and a positive outlook for Atlassian amidst a challenging macroeconomic environment.
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