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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 the latest SEC filing, Cannon-Brookes disposed of shares valued at approximately $2.36 million. The transactions, executed on February 20, 2025, involved multiple trades of Atlassian’s Class A Common Stock at prices ranging from $294.87 to $302.18 per share. The sale comes as Atlassian, now valued at $74.82 billion, has seen its stock surge over 83% in the past six months, despite a recent 8.66% pullback last week.
Following these sales, Cannon-Brookes holds 214,596 shares indirectly through a trust. The sales were conducted under a Rule 10b5-1 trading plan, which allows insiders to sell a predetermined number of shares at a predetermined time. This plan was adopted by Cannon-Brookes on February 8, 2024. InvestingPro data shows Atlassian maintains impressive gross profit margins of 81.82% and strong revenue growth of 23.19%. For deeper insights into Atlassian’s financial health and detailed analysis, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Atlassian Corp Plc reported strong financial results for Q4 2024, surpassing both earnings and revenue expectations. The company’s earnings per share (EPS) came in at $0.96, significantly exceeding the forecast of $0.62, while revenue reached $1.29 billion, outpacing the anticipated $1.23 billion. This performance underscores Atlassian’s robust growth in subscription revenue, which saw a 30% year-over-year increase, and improved gross margins that rose to 85%. Additionally, Atlassian’s trajectory of scaling past $5 billion in annual run rate revenue highlights its expanding presence in the enterprise market with a record number of deals surpassing $1 million in annual contract value.
In terms of market activity, Atlassian’s stock experienced a notable surge following the earnings announcement, reflecting investor optimism. The company’s strategic focus on enterprise customers, as well as innovations in AI and collaborative tools, continues to drive momentum. Atlassian’s outlook includes plans to double its revenue to $10 billion by FY 2026, maintaining non-GAAP operating margins above 25%, despite macroeconomic uncertainties.
Analysts have noted the company’s strong execution and market positioning, with firms like BMO Capital Markets and Barclays (LON:BARC) expressing positive views on Atlassian’s enterprise growth and AI capabilities. The company remains committed to investing in its enterprise go-to-market strategies and enhancing its cloud infrastructure to support future growth. These developments indicate Atlassian’s strategic efforts to strengthen its market position and deliver value to its customers.
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