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SAN FRANCISCO—Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp (NASDAQ:TEAM), recently sold shares worth approximately $1.79 million, according to a filing with the Securities and Exchange Commission. The transactions occurred on March 21, 2025, as part of a pre-arranged trading plan. The software giant, currently valued at $61.55 billion, has shown impressive growth with revenue increasing 23.19% over the last twelve months. InvestingPro analysis suggests the stock is trading above its Fair Value.
The sales involved a total of 6,048 shares of Atlassian’s Class A common stock, with prices ranging from $219.72 to $227.3291 per share. The shares were sold by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust. The company maintains strong operational efficiency with an impressive 81.82% gross profit margin.
Following these transactions, Cannon-Brookes retains ownership of 47,688 shares indirectly through the trust. This strategic move aligns with a Rule 10b5-1 trading plan adopted by Cannon-Brookes in early 2024, which allows insiders to plan stock transactions in advance to avoid potential conflicts of interest. Despite recent market volatility, TEAM shares have gained 39.8% over the past six months. For deeper insights into Atlassian’s valuation and growth prospects, access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Atlassian Corporation reported strong financial results for Q4 2024, exceeding both earnings and revenue forecasts. The company posted an earnings per share (EPS) of $0.96, surpassing the projected $0.62, while revenue reached $1.29 billion, above the expected $1.23 billion. This performance was driven by a 30% year-over-year growth in subscription revenue and improved gross margins of 85%. In addition, KeyBanc Capital Markets maintained its Overweight rating on Atlassian with a price target of $365, citing the company’s strong performance metrics and potential growth drivers. Analyst Jason Celino highlighted Atlassian as a "Rule of 40+" company, indicating its superior performance potential. Meanwhile, Stephens initiated coverage of Atlassian with an Equal Weight rating and a price target of $255, acknowledging the company’s strengths but advising a cautious approach due to valuation concerns. These developments reflect Atlassian’s robust market position and ongoing investor interest.
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