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SAN FRANCISCO—Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp (NASDAQ:TEAM), whose stock has surged nearly 76% over the past six months and commands a market capitalization of $72.9 billion, recently sold a significant portion of his holdings in the company. According to a regulatory filing, Cannon-Brookes disposed of shares worth approximately $2.3 million on February 26, 2025. The transactions involved the sale of Class A Common Stock at prices ranging from $286.84 to $293.03 per share.
The sales were conducted under a prearranged trading plan, known as a Rule 10b5-1 plan, which was adopted by Cannon-Brookes on February 8, 2024. The shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust, reflecting indirect ownership.
Following these transactions, Cannon-Brookes continues to hold a substantial number of shares in Atlassian, with 182,804 shares remaining under his indirect ownership.
In other recent news, Atlassian Corp Plc reported strong financial results for Q4 2024, surpassing expectations in both earnings and revenue. The company achieved an earnings per share of $0.96, significantly higher than the forecasted $0.62, while revenue reached $1.29 billion, exceeding the anticipated $1.23 billion. Atlassian’s subscription revenue saw a year-over-year growth of 30%, contributing to the company’s robust performance. Gross margins improved to 85%, marking an increase of 100 basis points from the previous year. The company also highlighted a record number of deals exceeding $1 million in annual contract value, indicating its growing presence in the enterprise market.
In terms of future projections, Atlassian aims to double its revenue to $10 billion by FY 2026, maintaining non-GAAP operating margins above 25%. The company remains cautious about macroeconomic uncertainties but continues to invest in its enterprise strategies. Analyst firms BMO Capital Markets and Barclays (LON:BARC) noted Atlassian’s strong execution and momentum, especially in AI innovation and enterprise customer engagement. Additionally, Atlassian’s recent earnings call emphasized the company’s commitment to evolving its market dynamics and addressing the challenges posed by intense competition in the AI and collaborative tools market.
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