Atlassian CEO Michael Cannon-Brookes sells shares worth $1.76 million

Published 12/03/2025, 23:12
Atlassian CEO Michael Cannon-Brookes sells shares worth $1.76 million

Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp (NASDAQ:TEAM), recently executed a series of stock sales amounting to approximately $1.76 million. The transactions, which took place on March 11, involved the sale of Class A Common Stock at prices ranging from $217.57 to $226.84 per share. The sales come as Atlassian, currently valued at nearly $60 billion, maintains impressive gross profit margins of 82%. These sales were conducted under a Rule 10b5-1 trading plan adopted by Cannon-Brookes in February 2024. Following these transactions, Cannon-Brookes holds 111,272 shares indirectly through a trust. While the stock has declined 18% in the past week, it’s up 37% over six months. InvestingPro analysis suggests the stock is currently overvalued, with 12 additional ProTips available for deeper insights into Atlassian’s financial health and prospects.

In other recent news, Atlassian Corp Plc reported strong financial results for Q4 2024, surpassing both earnings and revenue forecasts. The company achieved earnings per share of $0.96, significantly exceeding the forecasted $0.62, while revenue reached $1.29 billion, surpassing expectations of $1.23 billion. Additionally, Atlassian’s subscription revenue grew by 30% year over year, contributing to the company’s impressive performance. Gross margins improved to 85%, marking a year-over-year increase of 100 basis points.

Atlassian’s robust financial results have been supported by a record number of deals exceeding $1 million in annual contract value, highlighting the company’s growing presence in the enterprise market. The company has also set a goal to double its revenue to $10 billion by FY 2026, with expectations of maintaining non-GAAP operating margins above 25%. In terms of analyst activity, there were no specific upgrades or downgrades reported in the recent articles.

Furthermore, Atlassian continues to invest in strategic priorities such as AI innovation and enterprise customer service, which are driving momentum across the business. The company’s focus on evolving market dynamics was also evident during discussions on potential shifts to consumption-based pricing models. Atlassian remains cautious due to macroeconomic uncertainties but is optimistic about its future growth trajectory.

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