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Scott Farquhar, co-founder and director of Atlassian Corp (NASDAQ:TEAM), recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Farquhar disposed of shares valued at approximately $2.25 million on February 24, 2025. The sales were executed at prices ranging from $275.82 to $286.08 per share. The transaction comes as Atlassian, now valued at $74.54 billion, has seen its stock surge 72% over the past six months, with InvestingPro analysis indicating the stock is currently trading above its Fair Value.
The transactions involved multiple trades throughout the day, with shares held by Skip Enterprises Pty Limited as trustee for the Farquhar Family Trust. Following these sales, Farquhar continues to hold a substantial number of shares, maintaining a position of influence within the company. These trades were made under a pre-established Rule 10b5-1 trading plan, which allows insiders to sell shares at predetermined times, reducing concerns of insider trading. The company maintains impressive gross profit margins of 82% and has shown strong revenue growth of 23% over the last twelve months. For deeper insights into insider trading patterns and comprehensive analysis, access the full InvestingPro Research Report, which covers this and 1,400+ other top stocks.
In other recent news, Atlassian Corp Plc reported notable financial achievements for Q4 2024, exceeding both earnings and revenue expectations. The company reported earnings per share of $0.96, surpassing the forecast of $0.62, while revenue reached $1.29 billion, exceeding the anticipated $1.23 billion. Subscription revenue saw a 30% year-over-year growth, contributing to Atlassian’s robust performance, with gross margins improving to 85%. Atlassian’s strategic focus on enterprise customers and innovation in AI has driven momentum, with a record number of deals exceeding $1 million in annual contract value. Looking ahead, the company aims to double its revenue to $10 billion by FY 2026, despite macroeconomic uncertainties. In terms of analyst activity, no specific upgrades or downgrades were mentioned, but the company’s strong execution and market positioning have been positively received. Atlassian continues to invest in its enterprise go-to-market strategies, maintaining a cautious but optimistic outlook for future growth.
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