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SAN FRANCISCO—Scott Farquhar, co-founder and director of Atlassian Corp (NASDAQ:TEAM), recently divested a substantial portion of his holdings in the company. The sale comes as Atlassian’s stock has declined nearly 10% over the past week, according to InvestingPro data. According to a filing with the Securities and Exchange Commission, Farquhar sold a total of 7,948 shares of Atlassian’s Class A common stock on March 12, 2025. The transactions were executed at prices ranging from $225.15 to $232.48 per share, amounting to a total sale value of approximately $1.8 million. The company, currently valued at $54.5 billion, maintains impressive gross profit margins of 82%.
The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, which Farquhar adopted on February 14, 2024. Following these transactions, Farquhar holds 103,324 shares indirectly through the Farquhar Family Trust.
Atlassian, known for its collaboration and productivity software, continues to see significant insider trading activity, reflecting ongoing interest and movements within its executive ranks.
In other recent news, Atlassian Corp Plc reported strong financial results for Q4 2024, surpassing both earnings and revenue forecasts. The company reported earnings per share of $0.96, significantly higher than the forecasted $0.62, and revenue reached $1.29 billion, exceeding expectations of $1.23 billion. This performance reflects substantial growth in subscription revenue, which increased by 30% year over year. Atlassian’s gross margins also improved to 85%, up 100 basis points from the previous year. Additionally, the company has been scaling past $5 billion in annual run rate revenue, supported by a record number of deals exceeding $1 million in annual contract value. Looking ahead, Atlassian aims to double its revenue to $10 billion by FY 2026, though the company remains cautious due to macroeconomic uncertainties. The company continues to invest in enterprise go-to-market strategies, with a focus on innovations in AI and hybrid deals, which provide value and flexibility to its largest customers.
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