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Michael Cannon-Brookes, the CEO and Co-Founder of Atlassian Corp (NASDAQ:TEAM), has recently sold shares worth approximately $1.75 million, according to a filing with the Securities and Exchange Commission. The transactions occurred on March 17, 2025, and involved the sale of Class A Common Stock at prices ranging from $218.08 to $223.99 per share. The stock, currently trading at $219.46, has shown impressive momentum with a 38% gain over the past six months, despite recent market volatility.
The sales were executed under a Rule 10b5-1 trading plan, which Cannon-Brookes adopted on February 8, 2024. Following these transactions, Cannon-Brookes holds 79,480 shares indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust. The transactions were carried out in multiple trades throughout the day, ensuring compliance with the pre-established trading plan. With a market capitalization of $57.27 billion and an impressive gross profit margin of 81.82%, Atlassian maintains strong business fundamentals. According to InvestingPro analysis, the stock is currently trading near its Fair Value, with 10+ additional exclusive insights available to subscribers.
In other recent news, Atlassian Corp Plc reported strong financial results for Q4 2024, surpassing both earnings and revenue forecasts. The company achieved an earnings per share (EPS) of $0.96, significantly higher than the forecasted $0.62, and revenue reached $1.29 billion, exceeding expectations of $1.23 billion. Atlassian’s subscription revenue grew by 30% year over year, contributing to an improved gross margin of 85%. In terms of analyst activity, KeyBanc Capital Markets maintained an Overweight rating on Atlassian, with a steady price target of $365. Analyst Jason Celino highlighted Atlassian as a "Rule of 40+" company, suggesting strong growth and profitability metrics. Despite market volatility, KeyBanc expressed confidence in Atlassian’s fundamentals and potential near-term growth drivers. Atlassian’s recent performance and strategic initiatives, including its focus on enterprise customers and AI-driven innovation, indicate a positive outlook. These developments reflect a robust trajectory for Atlassian as it continues to expand its market presence and enhance its product offerings.
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