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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 Form 4 filing with the Securities and Exchange Commission, Cannon-Brookes disposed of Class A Common Stock in multiple transactions on February 24, 2025. The sales, conducted through a Rule 10b5-1 trading plan, totaled $2,251,347 with prices ranging from $275.82 to $286.08 per share. The transaction comes as Atlassian, now valued at $74.54 billion, has seen its stock surge 72% over the past six months, according to InvestingPro data.
These transactions were executed in multiple trades throughout the day, with shares being sold by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust. Following these sales, Cannon-Brookes retains ownership of 198,700 shares in Atlassian. While currently not profitable, InvestingPro analysis indicates net income growth is expected this year, with 22 analysts revising their earnings estimates upward. For deeper insights into Atlassian’s valuation and growth prospects, check out the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Atlassian Corp Plc reported notable financial results for Q4 2024, surpassing both earnings and revenue expectations. The company’s earnings per share (EPS) reached $0.96, significantly exceeding the forecasted $0.62. Revenue was reported at $1.29 billion, which also surpassed the anticipated $1.23 billion. These results reflect strong performance, driven by substantial growth in subscription revenue and improved gross margins. Atlassian’s subscription revenue saw a 30% year-over-year increase, and gross margins improved to 85%, up 100 basis points from the previous year.
In related developments, Atlassian aims to double its revenue to $10 billion by FY 2026, maintaining non-GAAP operating margins above 25%. Despite macroeconomic uncertainties, the company continues to invest in its enterprise go-to-market strategies. Furthermore, Atlassian has been focusing on expanding its presence in the enterprise market, achieving a record number of deals exceeding $1 million in annual contract value. In terms of analyst actions, the company has seen positive feedback from firms like BMO Capital Markets and Wells Fargo (NYSE:WFC), highlighting its robust enterprise segment performance.
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