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SAN FRANCISCO—Rajan Rajeev Bashyam, Chief Technology Officer at Atlassian Corp (NASDAQ:TEAM), recently sold shares of the company’s Class A Common Stock, according to a filing with the Securities and Exchange Commission. The transactions, executed on February 19, 2025, amounted to a total value of approximately $961,840. The sales were conducted at prices ranging from $303.42 to $314.55 per share, occurring during a period when the stock has shown remarkable strength, gaining over 94% in the past six months according to InvestingPro data.
The shares were sold to cover tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs), as noted in the filing. Following these transactions, Bashyam retains ownership of 180,733 shares of Atlassian’s Class A Common Stock. The company, currently valued at $78.19 billion, maintains impressive gross profit margins of 82%.
Atlassian, a leading provider of collaboration and productivity software, continues to attract attention from investors and analysts, with its stock performance closely monitored in the tech sector. Analyst price targets currently range from $270 to $420, with 22 analysts recently revising earnings estimates upward. For deeper insights into Atlassian’s valuation and growth prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports.
In other recent news, Atlassian Corp Plc reported strong financial results for Q4 2024, exceeding both earnings and revenue forecasts. The company’s earnings per share reached $0.96, significantly outperforming the expected $0.62. Additionally, Atlassian’s revenue hit $1.29 billion, surpassing the projected $1.23 billion. These results reflect Atlassian’s robust performance, driven by a 30% year-over-year growth in subscription revenue and improved gross margins of 85%. The company has also successfully scaled past $5 billion in annual run rate revenue, supported by a record number of deals exceeding $1 million in annual contract value. In analyst updates, Barclays (LON:BARC) and BMO Capital Markets have shown interest in Atlassian’s enterprise strategies and AI innovations. Atlassian’s strategic focus on enterprise growth and AI capabilities continues to drive momentum, with the company planning to double its revenue to $10 billion by FY 2026.
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