Atlassian director Scott Farquhar sells shares worth $1.6 million

Published 18/04/2025, 00:10
Atlassian director Scott Farquhar sells shares worth $1.6 million

SAN FRANCISCO—Scott Farquhar, a director and ten percent owner at Atlassian Corp (NASDAQ:TEAM), a $53 billion market cap software company with impressive gross profit margins of 82%, disclosed the sale of a significant portion of his holdings in the company. According to a recent SEC filing, Farquhar sold a total of 5,950 shares of Atlassian’s Class A common stock on April 17, 2025. The shares were sold at prices ranging from $202.3081 to $205.97 per share, amounting to a total transaction value of approximately $1.6 million.

These transactions were carried out under a Rule 10b5-1 trading plan, which Farquhar had adopted in February 2024. Following the sale, Farquhar retains ownership of 270,232 shares in the company, held indirectly through the Farquhar Family Trust.

In other recent news, Atlassian Corporation has seen several notable developments. TD Cowen analyst Derrick Wood adjusted the price target for Atlassian to $250, down from $320, while maintaining a Hold rating. Wood noted a mix of positive and cautious signals, with confidence in cloud and enterprise growth trends but concerns about IT budget scrutiny and potential irregularities in small to medium business migration activities. Meanwhile, Stephens analyst Brett Huff reaffirmed an Equal Weight rating with a $255 target, expressing cautious optimism about Atlassian’s integration of artificial intelligence and its market positioning. Cantor Fitzgerald maintained an Overweight rating with a $272 target after attending Atlassian’s Team ’25 conference, where the company introduced new cloud offerings and AI-driven platform Rovo. In corporate governance, Atlassian announced the retirement of long-serving director Enrique Salem and appointed Karen Dykstra, former CFO of VMware, to the board. Dykstra’s appointment is expected to bolster Atlassian’s financial strategy and operational efficiency. These developments highlight Atlassian’s ongoing efforts to adapt and innovate in the evolving software market.

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