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SAN FRANCISCO—Scott Farquhar, co-founder and director of Atlassian Corp (NASDAQ:TEAM), executed a series of stock sales on February 25, 2025, totaling approximately $2.24 million. The transactions involved the sale of Class A Common Stock at prices ranging from $274.52 to $285.32 per share. The stock, which has surged over 72% in the past six months and currently trades near its 52-week high of $326, appears overvalued according to InvestingPro analysis.
The sales, conducted under a pre-established Rule 10b5-1 trading plan, involved multiple trades throughout the day. Following these transactions, Farquhar holds 190,752 shares indirectly through a trust.
These sales are part of Farquhar’s ongoing management of his holdings in the software company, known for its collaborative productivity tools.
In other recent news, Atlassian Corp Plc reported its financial results for Q4 2024, surpassing both earnings and revenue forecasts. The company’s earnings per share (EPS) reached $0.96, significantly exceeding the forecasted $0.62, while revenue hit $1.29 billion, surpassing expectations of $1.23 billion. This performance was highlighted by a 30% year-over-year growth in subscription revenue and improved gross margins of 85%. Atlassian also announced its aim to double revenue to $10 billion by FY 2026, despite macroeconomic uncertainties. In terms of market activity, Atlassian’s stock was upgraded by analysts at several firms, reflecting a positive outlook on the company’s growth potential. Additionally, discussions during the earnings call included the company’s strategic focus on AI capabilities and enterprise customer migration strategies. Atlassian’s recent developments underscore its robust market positioning and continued investment in innovation and expansion.
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