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Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp (NASDAQ:TEAM), recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Cannon-Brookes sold a total of 7,948 shares of Atlassian’s Class A Common Stock on April 30, 2025. The company, which maintains impressive gross profit margins of 82%, has seen its stock price decline significantly over the past three months according to InvestingPro data. The shares were sold at prices ranging from $221.002 to $228.3242, amounting to a total transaction value of approximately $1.79 million.
These transactions were conducted under a Rule 10b5-1 trading plan, which Cannon-Brookes adopted on February 8, 2024. Following these sales, he retains indirect ownership of 206,648 shares through a trust.
In other recent news, Atlassian Corporation reported several notable developments. TD Cowen analyst Derrick Wood adjusted his price target for Atlassian to $250, down from $320, while maintaining a Hold rating. Wood noted stable growth trends but expressed caution due to potential economic uncertainties and challenges in monetizing artificial intelligence. Meanwhile, Atlassian welcomed Karen Dykstra to its Board of Directors following Enrique Salem’s retirement. Dykstra, formerly CFO of VMware, brings extensive financial expertise to the role.
Stephens analyst Brett Huff reaffirmed an Equal Weight rating with a $255 price target, highlighting Atlassian’s integration of artificial intelligence into its products and the potential for market share gains. However, Huff also noted concerns about revenue clarity and developer productivity. In contrast, Cantor Fitzgerald maintained an Overweight rating with a $272 price target, citing optimism from Atlassian’s Team ’25 conference. The event introduced new cloud offerings and an AI-driven platform, Rovo, which will now be available at no additional cost to certain customers.
These recent developments reflect a mix of strategic shifts and leadership changes as Atlassian continues to navigate the evolving technology landscape.
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