Atlassian’s Scott Farquhar sells shares worth over $2.2 million

Published 03/03/2025, 23:04
Atlassian’s Scott Farquhar sells shares worth over $2.2 million

Scott Farquhar, co-founder and director of Atlassian Corp (NASDAQ:TEAM), recently sold shares of the company amounting to over $2.2 million. The transactions, executed on February 28, 2025, involved the sale of Class A Common Stock at prices ranging from $274.83 to $283.92 per share. The sale comes as Atlassian’s stock has surged over 73% in the past six months, with the company maintaining impressive gross profit margins of 82%.

Farquhar’s sales were conducted through a Rule 10b5-1 trading plan, with the shares held by Skip Enterprises Pty Limited as trustee for the Farquhar Family Trust. Following these transactions, Farquhar retains ownership of 166,908 shares indirectly. According to InvestingPro data, Atlassian has demonstrated strong revenue growth of 23% year-over-year, with a current market capitalization of $71.7 billion.

These sales reflect a strategic move by Farquhar, who is a significant shareholder in the company, holding over 10% of its shares. The transactions were reported in a Form 4 filing with the Securities and Exchange Commission, detailing multiple trades executed throughout the day. InvestingPro analysis reveals 10+ additional insights about Atlassian’s financial health and future prospects, available in the comprehensive Pro Research Report.

In other recent news, Atlassian Corp Plc reported strong financial results for Q4 2024, surpassing both earnings and revenue forecasts. The company achieved an earnings per share (EPS) of $0.96, significantly exceeding the forecasted $0.62, while revenue reached $1.29 billion, surpassing expectations of $1.23 billion. Subscription revenue grew by 30% year over year, contributing to Atlassian’s robust performance. The company’s gross margins improved to 85%, up 100 basis points from the previous year. Atlassian has set ambitious goals, aiming to double its revenue to $10 billion by FY 2026, despite macroeconomic uncertainties. Analysts have noted the company’s strong execution and market positioning, with firms like BMO Capital Markets and Barclays (LON:BARC) highlighting Atlassian’s strategic focus on enterprise customers and AI capabilities. Atlassian continues to invest in its enterprise go-to-market strategies, reflecting its expanding footprint in the enterprise market.

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