Atlassian CEO Michael Cannon-Brookes sells shares worth $1.73 million

Published 11/03/2025, 23:10
Atlassian CEO Michael Cannon-Brookes sells shares worth $1.73 million

Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp (NASDAQ:TEAM), recently sold shares of the company’s Class A common stock valued at approximately $1.73 million. According to a recent SEC filing, the transactions took place on March 10, 2025, with the shares sold at prices ranging from $213.59 to $229.69 per share. The sales come as the $58.91B market cap company has seen its stock decline 18.1% over the past week, with InvestingPro data indicating the stock is currently in oversold territory.

The sales were executed under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell stocks. Following these transactions, Cannon-Brookes holds 119,220 shares indirectly through a trust. The transactions were conducted in multiple trades throughout the day, as detailed in the filing. Despite recent price volatility, InvestingPro analysis shows net income is expected to grow this year, with 22 analysts revising their earnings estimates upward. 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 Corp Plc reported strong financial results for Q4 2024, exceeding both earnings and revenue forecasts. The company achieved an earnings per share (EPS) of $0.96, surpassing the projected $0.62, while revenue reached $1.29 billion, outpacing the expected $1.23 billion. Atlassian’s subscription revenue grew by 30% year over year, contributing to the company’s robust performance. The firm also reported improved gross margins of 85%, a 100 basis point increase from the previous year.

In terms of market activity, Atlassian secured a record number of deals exceeding $1 million in annual contract value, underscoring its expanding presence in the enterprise market. The company’s strategic focus on innovation and enterprise customer service continues to drive momentum, with more than 1 million monthly active users engaging with Atlassian’s intelligence features. Looking forward, Atlassian aims to double its revenue to $10 billion by FY 2026, while maintaining non-GAAP operating margins above 25%.

Additionally, the company is seeing strong interest in hybrid deals, which offer flexibility to its largest customers. These developments reflect Atlassian’s strategic positioning and ongoing investment in its enterprise go-to-market strategies.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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