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Michael Cannon-Brookes, the CEO and Co-Founder of Atlassian Corp (NASDAQ:TEAM), recently sold shares of the company’s Class A common stock totaling approximately $1.69 million. The transactions, executed on April 1, 2025, were part of a pre-arranged trading plan under Rule 10b5-1. The sale comes as Atlassian, currently valued at $58.84 billion, maintains impressive gross profit margins of 82% and strong revenue growth of 23% year-over-year.
Cannon-Brookes sold a total of 7,948 shares in multiple transactions. The stock was sold at prices ranging from $208.62 to $216.06 per share. Following these transactions, Cannon-Brookes holds 365,608 shares, which are held by a trust. According to InvestingPro analysis, the stock appears slightly overvalued at its current price of $223.96, despite showing a notable 35% gain over the past six months.
These sales were carried out as part of a previously established trading plan, which allows executives to sell a predetermined number of shares at set times to avoid any allegations of insider trading. For deeper insights into Atlassian’s valuation and 10+ additional exclusive tips, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Atlassian Corporation reported impressive financial results for Q4 2024, surpassing both earnings and revenue forecasts. The company’s earnings per share (EPS) reached $0.96, significantly exceeding the projected $0.62, while revenue hit $1.29 billion, above the expected $1.23 billion. Following these results, Atlassian’s stock saw a notable increase in aftermarket trading, reflecting strong investor confidence. In other developments, UBS revised Atlassian’s stock price target from $330.00 to $230.00, maintaining a Neutral rating, citing stringent budget scrutiny and modest seat expansion rates as factors influencing the reassessment.
Meanwhile, Stephens initiated coverage on Atlassian with an Equal Weight rating and a price target of $255, highlighting the company’s broad Total (EPA:TTEF) Addressable Market as a growth advantage. The firm noted Atlassian’s expected over 20% growth and more than 25% profit before tax EBIT margins, indicating a stable financial trajectory. KeyBanc Capital Markets maintained its Overweight rating on Atlassian, with a price target of $365.00, citing an attractive risk/reward balance and potential near-term growth drivers despite recent market downturns. These recent developments underscore the varied perspectives on Atlassian’s market position and future potential.
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