SoFi CEO enters prepaid forward contract on 1.5 million shares
Scott Farquhar, a director at Atlassian Corp (NASDAQ:TEAM), recently sold shares of the company’s Class A common stock, totaling approximately $1.79 million. The transactions, executed on March 21, 2025, involved multiple trades with prices ranging from $219.72 to $227.3293 per share. The sales come as the stock has shown strong momentum, gaining nearly 40% over the past six months, with the company maintaining impressive gross profit margins of 82%. According to InvestingPro’s analysis, Atlassian currently appears overvalued, with a Financial Health score of FAIR.
Following these sales, Farquhar holds 47,688 shares indirectly, managed by Skip Enterprises Pty Limited as trustee for the Farquhar Family Trust. The sales were conducted under a Rule 10b5-1 trading plan adopted by Farquhar in February 2024. For deeper insights into insider trading patterns and comprehensive analysis, InvestingPro subscribers can access detailed reports covering Atlassian’s valuation metrics and growth prospects, along with 10 additional ProTips.
In other recent news, Atlassian Corporation has reported strong financial results for the fourth quarter of 2024, exceeding both earnings and revenue forecasts. The company posted an earnings per share of $0.96, surpassing the anticipated $0.62, while revenue reached $1.29 billion, beating expectations of $1.23 billion. Subscription revenue grew by 30% year over year, contributing to improved gross margins of 85%. Analyst firm Stephens initiated coverage on Atlassian with an Equal Weight rating and a price target of $255, highlighting the company’s broad market reach and competitive advantages. Meanwhile, KeyBanc Capital Markets maintained its Overweight rating with a price target of $365, citing Atlassian’s strong performance metrics and potential growth drivers. The company has also been recognized for its robust AI capabilities and strategic investments in enterprise solutions. These developments indicate Atlassian’s continued strong position in the enterprise software market.
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