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Scott Farquhar, a director and ten-percent owner at Atlassian Corp (NASDAQ:TEAM), recently sold a significant portion of his holdings in the company. The software giant, currently valued at $56.7 billion, has seen its stock surge over 31% in the past six months despite a recent 10% decline last week, according to InvestingPro data. According to a recent SEC filing, Farquhar sold a total of 7,948 shares of Atlassian’s Class A Common Stock on March 31, 2025. The shares were sold at prices ranging from $206.18 to $212.41, generating approximately $1.67 million in total proceeds. Based on InvestingPro’s Fair Value analysis, the stock appears to be trading near its fair value, with 12 additional ProTips available for subscribers.
The transactions were carried out under a Rule 10b5-1 trading plan, which Farquhar had adopted on February 14, 2024. Following these sales, Farquhar’s holdings, managed through the Farquhar Family Trust, were reduced to zero shares. The company maintains impressive gross profit margins of 82% and is expected to return to profitability this year, according to analyst forecasts available on InvestingPro.
In other recent news, Atlassian Corporation reported strong financial results for Q4 2024, exceeding both earnings and revenue forecasts. The company achieved earnings per share of $0.96, significantly surpassing the expected $0.62, and reported revenue of $1.29 billion, which was higher than the anticipated $1.23 billion. In light of these developments, UBS adjusted its price target for Atlassian from $330 to $230, maintaining a Neutral rating due to reports of budget scrutiny and modest seat expansion rates. Meanwhile, Stephens initiated coverage with an Equal Weight rating and a price target of $255, noting Atlassian’s broad Total (EPA:TTEF) Addressable Market and expected growth. KeyBanc Capital Markets maintained its Overweight rating with a price target of $365, citing Atlassian’s strong performance metrics and potential growth drivers. These recent developments reflect a mix of cautious optimism and confidence from analysts and investors regarding Atlassian’s future performance.
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