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SAN FRANCISCO—Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp (NASDAQ:TEAM), executed a series of stock sales on April 17, 2025, according to a recent SEC filing. The sales involved a total of 7,948 shares of Class A Common Stock, amounting to approximately $1.6 million. The transactions were conducted at prices ranging from $202.31 to $205.97 per share. The software company, currently valued at $53 billion, maintains impressive gross profit margins of 82% and is expected to return to profitability this year, according to InvestingPro data.
These sales were carried out under a pre-established Rule 10b5-1 trading plan, which was adopted by Cannon-Brookes on February 8, 2024. Following these transactions, Cannon-Brookes holds 270,232 shares indirectly through CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust. With the company’s next earnings report due on May 1, investors can access comprehensive analysis and 8 additional key insights through InvestingPro’s detailed research report.
In other recent news, Atlassian Corporation has seen several notable developments. Analyst Derrick Wood from TD Cowen adjusted the price target for Atlassian to $250, down from $320, while maintaining a Hold rating. This adjustment reflects mixed signals from partner checks and concerns about IT budget scrutiny. Meanwhile, Stephens analyst Brett Huff reaffirmed an Equal Weight rating with a $255 price target, noting Atlassian’s strategic integration of artificial intelligence into its products. Huff also highlighted the company’s expansion beyond the technology sector, although concerns about revenue clarity persist.
Cantor Fitzgerald expressed a positive outlook, maintaining an Overweight rating and a $272 price target following Atlassian’s Team ’25 conference, which showcased new cloud offerings and AI-driven platforms. On the corporate governance front, Atlassian announced the retirement of Enrique Salem from its board and the appointment of Karen Dykstra as a new director. Dykstra brings extensive financial expertise from her previous roles, including serving as CFO at VMware. These recent changes and developments reflect Atlassian’s ongoing efforts to enhance its market position and product offerings.
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