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Scott Farquhar, a director and significant shareholder of Atlassian Corp (NASDAQ:TEAM), a $51.6 billion market cap software company with impressive gross profit margins of 82%, recently sold shares of the company’s Class A common stock, amounting to approximately $1.53 million. According to InvestingPro analysis, the stock appears slightly overvalued at current levels. The transactions, carried out on June 12, 2025, involved multiple trades at prices ranging from $195.85 to $201.3461 per share.
Farquhar’s sales were executed under a Rule 10b5-1 trading plan adopted earlier in the year, with the shares held by Farquhar Investment Partnership No. 2. Following these transactions, Farquhar now owns 84,315 shares indirectly.
In other recent news, Atlassian Corporation has received an upgrade from Moody’s Ratings, which elevated its senior unsecured notes to Baa2 from Baa3, reflecting a stable outlook. Moody’s anticipates Atlassian’s revenues to grow by 20% or more over the next 12 to 24 months, driven by an increase in cloud subscription revenues. Despite recent challenges, such as a shortfall in billings, analysts from Cantor Fitzgerald and Stephens have adjusted their price targets for Atlassian to $256 and $221, respectively. Cantor Fitzgerald maintained an Overweight rating, while Stephens held an Equal Weight rating, both acknowledging Atlassian’s growth potential and ongoing cloud transition efforts. TD Cowen also revised its price target to $250, citing confidence in cloud and enterprise growth trends but expressing caution over IT budget scrutiny.
Additionally, Atlassian announced a board change with the retirement of Enrique Salem and the appointment of Karen Dykstra, former CFO of VMware, as a new director. Dykstra will serve on the Audit Committee and bring her financial expertise to the company. Atlassian’s liquidity remains robust, with $3 billion in cash and marketable securities, and an expected $1.75 billion in free cash flow for the fiscal year ending June 2026. These developments highlight Atlassian’s strategic positioning and financial stability amid evolving market conditions.
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