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Atlassian Corp (NASDAQ:TEAM), a $52.11 billion market cap company with impressive gross profit margins of 82%, saw its CEO and Co-Founder Michael Cannon-Brookes sell a total of $1,530,751 worth of Class A Common Stock on June 25, 2025. According to InvestingPro data, the company maintains strong revenue growth of 19% year-over-year. The sales were executed in multiple transactions with prices ranging from $197.9365 to $203.7144.
The transactions involved the sale of 1,604 shares at a weighted average price of $197.9365, 202 shares at $203.7144, 580 shares at $201.7434, 520 shares at $203.2092, 852 shares at $199.9912, 2,805 shares at $198.8125, and 1,102 shares at $200.8796.
Following these transactions, Cannon-Brookes directly owns 22,995 shares of Atlassian. The shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust. The sale was executed under a Rule 10b5-1 trading plan adopted on February 20, 2025.
In other recent news, Atlassian Corporation’s senior unsecured notes received an upgrade from Moody’s Ratings to Baa2, reflecting confidence in the company’s financial stability and growth prospects. Moody’s anticipates Atlassian’s revenues to grow by 20% or more over the next 12 to 24 months, primarily driven by increased cloud subscription revenues. Additionally, Cantor Fitzgerald adjusted its price target for Atlassian to $256, citing a strong free cash flow but noting challenges with multi-year Data Center deals. Meanwhile, Stephens reduced its price target to $221, maintaining an Equal Weight rating due to high market expectations and the need for more clarity on future performance.
TD Cowen also revised its price target for Atlassian to $250, retaining a Hold rating and highlighting potential irregularities in cloud and enterprise growth trends. The analyst expressed caution regarding the broader economic environment and the company’s ability to monetize artificial intelligence. Furthermore, Atlassian announced a board change with Enrique Salem retiring and Karen Dykstra, former CFO of VMware, joining as a new director. Dykstra will also serve on the Audit Committee, bringing her financial expertise to the company. These developments highlight Atlassian’s ongoing strategic adjustments and market positioning efforts.
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