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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. The software giant, currently valued at $51.7 billion, maintains impressive gross profit margins of 82% and achieved 23% revenue growth in the latest quarter. According to InvestingPro analysis, the company's overall financial health score is GOOD. According to a recent SEC filing, Cannon-Brookes disposed of Class A Common Stock worth approximately $1.55 million. The sales took place on April 9, 2025, at prices ranging from $180.1374 to $212.69 per share. With the stock currently trading at $198.07, InvestingPro's Fair Value analysis suggests the stock is slightly overvalued. Discover more insights with InvestingPro's comprehensive research report, available for over 1,400 US stocks.
Following these transactions, Cannon-Brookes holds 318,020 shares indirectly through a trust. These sales were conducted under a Rule 10b5-1 trading plan, which was adopted in February 2024. Looking ahead, analysts expect the company to return to profitability this year, with projected earnings of $3.53 per share.
In other recent news, Atlassian Corporation has been the subject of several analyst updates following its Team '25 conference. Macquarie upgraded Atlassian's stock rating to Outperform with a price target of $270, citing the company's new Teamwork Collection and anticipated revenue outperformance. The upgrade was influenced by Atlassian's strategic product integration and recent price increases for its Data Center services. Meanwhile, UBS maintained a Neutral rating with a $230 price target, noting the introduction of a new pricing tier and the inclusion of Rovo AI at no extra cost.
TD Cowen also maintained a Hold rating with a $320 target, highlighting potential challenges due to IT budget restrictions and changes in partner strategies. BMO Capital adjusted its price target to $295 from $360, maintaining an Outperform rating but expressing concerns over pricing changes and their impact on demand. Similarly, Mizuho (NYSE:MFG) reduced its price target to $325 while retaining an Outperform rating, reflecting a cautious valuation approach amid economic uncertainties. These updates demonstrate varied perspectives on Atlassian's growth potential and market strategies.
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