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Scott Farquhar, co-founder and director of Atlassian Corp (NASDAQ:TEAM), recently sold a portion of his stake in the company. According to a recent SEC filing, Farquhar sold a total of 7,948 shares of Atlassian’s Class A Common Stock on March 17, 2025. The transactions were executed at prices ranging from $218.08 to $223.99, accumulating a total value of approximately $1.75 million. The software company, currently valued at $57.27 billion, has shown impressive performance with a 38.25% price return over the past six months, despite trading above its InvestingPro Fair Value.
The shares were sold indirectly through Skip Enterprises Pty Limited as trustee for the Farquhar Family Trust. Following these transactions, Farquhar retains ownership of 79,480 shares in Atlassian. The sales were conducted under a Rule 10b5-1 trading plan, which had been adopted on February 14, 2024. The company maintains strong fundamentals with an impressive 81.82% gross profit margin, and analysts expect net income growth this year. InvestingPro offers additional insights through its comprehensive Pro Research Report, featuring detailed analysis of Atlassian’s financial health and growth prospects.
In other recent news, Atlassian Corporation reported strong financial results for Q4 2024, surpassing both earnings and revenue forecasts. The company achieved earnings per share of $0.96, significantly beating the forecasted $0.62, while revenue reached $1.29 billion, exceeding expectations of $1.23 billion. Additionally, Atlassian’s subscription revenue grew by 30% year over year, and gross margins improved to 85%. In analyst updates, KeyBanc Capital Markets maintained its Overweight rating on Atlassian with a steady price target of $365.00, indicating confidence in the company’s fundamentals despite market volatility. The firm highlighted Atlassian’s strong performance metrics and potential near-term growth drivers as reasons for their positive outlook. In other developments, Atlassian continues to focus on expanding its enterprise market footprint, supported by a record number of deals exceeding $1 million in annual contract value. The company’s strategic investments in AI and enterprise customer service are expected to drive further growth.
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