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SAN FRANCISCO—Michael Cannon-Brookes, CEO and co-founder of Atlassian Corp (NASDAQ:TEAM), executed a series of stock sales on April 2, 2025, amounting to $1.77 million. The transactions involved the sale of Class A Common Stock at prices ranging from $216.76 to $226.565 per share. The sales come as Atlassian’s stock has seen a significant 23.6% rise over the past six months, despite recent market volatility, according to InvestingPro data.
Cannon-Brookes, who also serves as a director and ten percent owner of the company, conducted these sales through a trust, as per the latest SEC filings. The transactions were carried out under a Rule 10b5-1 trading plan adopted in February 2024, ensuring compliance with insider trading regulations. The company, currently valued at $58.7 billion, maintains impressive gross profit margins of 81.8% and projects continued growth with a 19% revenue increase forecast for fiscal 2025.
Following these transactions, Cannon-Brookes retains ownership of 357,660 shares in Atlassian, according to the Form 4 filing. The sales were executed in multiple trades, reflecting the weighted-average prices reported.
Investors will note that these transactions are part of a structured selling plan, indicating a strategic approach to managing personal holdings without breaching regulatory guidelines.
In other recent news, Atlassian Corporation reported strong financial results for Q4 2024, surpassing both earnings and revenue forecasts. The company’s earnings per share were $0.96, significantly higher than the anticipated $0.62, while revenue reached $1.29 billion, exceeding the expected $1.23 billion. This impressive performance was marked by a 30% year-over-year growth in subscription revenue and improved gross margins of 85%. Following these announcements, investor confidence was reflected in a notable surge in Atlassian’s stock during aftermarket trading.
In addition to its earnings report, Atlassian has received varied assessments from analysts. UBS recently adjusted its price target for Atlassian to $230 from $330, maintaining a Neutral rating, citing cautious demand trends and budget scrutiny. Meanwhile, Stephens initiated coverage with an Equal Weight rating and a price target of $255, highlighting Atlassian’s potential for growth due to its broad Total (EPA:TTEF) Addressable Market and strong profit margins. KeyBanc Capital Markets, however, maintained an Overweight rating with a price target of $365, expressing confidence in Atlassian’s fundamentals and potential growth drivers.
These developments come amid broader market volatility, with analysts closely monitoring Atlassian’s strategic moves and financial disclosures for further insights into its performance and direction in the software industry.
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