Atlassian (TEAM) CEO Cannon-Brookes sells $1.67 million in stock

Atlassian Corp (NASDAQ:TEAM) CEO and Co-Founder Michael Cannon-Brookes sold a total of $1.67 million in Class A Common Stock on July 8, 2025. The sales were executed in multiple transactions with prices ranging from $217.2098 to $219.94 per share. The software company, currently valued at $53.91 billion, has maintained impressive gross profit margins of 82.31% and achieved 19.12% revenue growth in the last twelve months.

The transactions involved four separate sales of Atlassian Class A Common Stock. Cannon-Brookes disposed of 3,853 shares at a weighted average price of $218.2221, 410 shares at $217.2098, 50 shares at $219.94, and 3,352 shares at $219.1053.

Following these transactions, Cannon-Brookes indirectly owns 452,235 shares of Atlassian Class A Common Stock. The shares are held by CBC Co Pty Limited as trustee for the Cannon-Brookes Head Trust.

The sales were conducted under a pre-arranged Rule 10b5-1 trading plan adopted on February 20, 2025.

In other recent news, Atlassian Corporation has experienced several noteworthy developments. Moody’s Ratings upgraded Atlassian’s senior unsecured notes to Baa2, reflecting a stable outlook and expectations of revenue growth driven by increased cloud subscription revenues. Analysts at Cantor Fitzgerald and Stephens have adjusted their price targets for Atlassian, with Cantor Fitzgerald reducing it to $256 and Stephens to $221, both citing mixed results from the company’s recent fiscal quarter. Meanwhile, TD Cowen also lowered its price target to $250, noting stable growth trends but expressing caution about the broader economic environment.

Atlassian’s third-quarter results aligned with expectations, but challenges such as a shortfall in multi-year Data Center deals affected billings. Despite these challenges, the company reported stronger-than-expected free cash flow and stable small and medium-sized business growth. Additionally, Atlassian announced a board change, with Karen Dykstra joining as a new director following Enrique Salem’s retirement. Dykstra, a former CFO of VMware, brings financial expertise and will serve on the Audit Committee.

These developments highlight Atlassian’s ongoing efforts to strengthen its financial position and adapt to market conditions. The company remains focused on leveraging its cloud platform and artificial intelligence capabilities to enhance customer retention and pricing power. Investors and analysts will be closely monitoring Atlassian’s upcoming fiscal year guidance for further insights into the company’s growth trajectory.

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