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Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp (NASDAQ:TEAM), has sold a significant portion of his holdings in the company. According to a recent SEC filing, Cannon-Brookes disposed of a total of 7,948 shares of Atlassian’s Class A Common Stock on March 31, 2025. The transactions were executed at prices ranging from $206.18 to $212.41 per share, resulting in a total sale value of approximately $1.67 million. The sale comes as Atlassian’s stock has experienced a 10% decline over the past week, though it maintains a strong 31% gain over the last six months, according to InvestingPro data.
The shares were held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust. These transactions were made under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined schedule for selling stocks. Following the transactions, Cannon-Brookes now holds no shares directly under this specific trust. The company, currently valued at $56.67 billion, maintains impressive gross profit margins of 82%.
Investors often monitor insider transactions such as these to gauge the confidence executives have in their company’s future performance. While InvestingPro analysis suggests the stock is currently trading above its Fair Value, analysts maintain a positive outlook, with net income expected to grow this year. For deeper insights into Atlassian’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Atlassian Corporation reported impressive financial results for Q4 2024, surpassing both earnings and revenue forecasts. The company’s earnings per share (EPS) came in at $0.96, significantly exceeding the forecasted $0.62, while revenue reached $1.29 billion, surpassing expectations of $1.23 billion. Following the announcement, Atlassian’s stock surged, reflecting strong investor confidence. In the realm of analyst evaluations, UBS adjusted its price target for Atlassian, lowering it from $330 to $230, while maintaining a Neutral rating. This decision was influenced by discussions with Atlassian partners and customers regarding demand trends. Stephens began coverage of Atlassian with an Equal Weight rating and a price target of $255, citing the company’s broad market reach and potential for sustained growth. Meanwhile, KeyBanc reaffirmed its Overweight rating on Atlassian with a price target of $365, highlighting the company’s strong performance metrics and potential near-term growth drivers. These recent developments indicate a dynamic period for Atlassian, with analysts and investors closely monitoring the company’s strategic moves and financial disclosures.
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