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Michael Cannon-Brookes, CEO and Co-Founder of Atlassian Corp (NASDAQ:TEAM), recently sold shares of the company’s Class A common stock, totaling approximately $2.06 million. The transactions, executed on March 6, 2025, involved multiple trades at prices ranging from $250.34 to $270.95 per share. The timing is notable as the stock has experienced a significant 16% decline over the past week, though it maintains a strong 48% gain over the last six months.
Following these sales, Cannon-Brookes holds 137,699 shares indirectly through a trust. The transactions were conducted as part of a pre-established trading plan under Rule 10b5-1, which provides executives a way to sell stock in a systematic manner without violating insider trading laws. According to InvestingPro data, Atlassian boasts impressive gross profit margins of 82% and maintains robust revenue growth of 23% year-over-year.
Atlassian Corp, known for its collaboration and productivity software, continues to be a significant player in the tech industry, with its stock traded on the NASDAQ under the ticker symbol TEAM. With a market capitalization of $62.5 billion, InvestingPro analysis suggests the stock is currently trading near its Fair Value, while maintaining a FAIR overall financial health score.
In other recent news, Atlassian Corp Plc reported robust financial results for Q4 2024, significantly surpassing both earnings and revenue forecasts. The company’s earnings per share (EPS) were reported at $0.96, well above the anticipated $0.62, while revenue reached $1.29 billion, exceeding the expected $1.23 billion. These results reflect Atlassian’s strong execution and market positioning, driven by a 30% year-over-year growth in subscription revenue. Additionally, the company’s gross margins improved to 85%, up 100 basis points from the previous year.
Atlassian’s performance has also been bolstered by a record number of deals exceeding $1 million in annual contract value, highlighting its expanding enterprise market presence. Looking ahead, Atlassian aims to double its revenue to $10 billion by FY 2026, with expectations of maintaining non-GAAP operating margins above 25%. Despite macroeconomic uncertainties, the company remains committed to investing in its enterprise strategies.
In terms of analyst perspectives, Atlassian has not seen any significant changes in customer behavior following recent data center price changes, which were anticipated and factored into their guidance. The company continues to focus on cloud growth, with plans to optimize cloud infrastructure and customer support costs. These developments underscore Atlassian’s strategic initiatives and its strong position in the market.
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