TL;DR
CEO Cannon-Brookes and Director Farquhar dispose of TEAM shares across four trading days in systematic selling program.
July 18, 2025
Atlassian Corp’s (NASDAQ: TEAM) two co-founders executed substantial share sales totaling approximately $11.7 million across four trading days in mid-July, marking significant insider selling activity at the collaboration software giant.
Executive Transaction Details
This is the trading activity between July 11-July 16. However, it should be noted that there are even more transactions by the executives predating the stated period.
CEO Michael Cannon-Brookes Sells $5.85 Million
CEO and Co-Founder Michael Cannon-Brookes disposed of $5.85 million worth of shares from July 11-16.
His largest single-day activity occurred July 11, selling 7,665 shares through 14 transactions at prices ranging from $186.88 to $201.05, generating $1.48 million.
He continued with July 14 sales ($1.47 million), July 15 ($1.45 million), and July 16 ($1.45 million), maintaining consistent daily volumes of approximately 7,600-7,700 shares.
Co-Founder Scott Farquhar Matches with $5.85 Million
Director Scott Farquhar executed parallel sales totaling $5.85 million across the same four-day period.
His transactions mirrored Cannon-Brookes’ pattern: July 11 ($1.48 million), July 14 ($1.47 million), July 15 ($1.45 million), and July 16 ($1.45 million), with similar share quantities and price ranges.
Trading Plans and Compliance
Both executives executed sales under Rule 10b5-1 trading plans established in February 2025. Cannon-Brookes’ plan was adopted February 20, while Farquhar’s was established February 12.
These predetermined arrangements provide legal protection by demonstrating sales were scheduled in advance rather than based on material nonpublic information.
The executives executed sales through multiple smaller transactions within each trading day, with prices varying by several dollars across trades.
This systematic approach suggests execution designed to minimize market impact while capturing varying intraday price levels.
Market Implications
The $11.7 million in coordinated sales represents one of Atlassian’s largest insider selling events in recent quarters. Both co-founders executed nearly identical transaction patterns at premium valuations in the upper $180s to low $200s range.
The systematic selling comes as Atlassian trades near elevated levels, reflecting investor enthusiasm for the company’s cloud transition and AI capabilities.
However, the magnitude and coordination of these sales may prompt investor scrutiny regarding executive confidence in near-term performance.
Recent analyst coverage shows mixed sentiment, with some firms raising price targets while others express caution about competitive pressures. The carefully planned execution at peak valuations suggests strategic timing to maximize proceeds while maintaining orderly market conditions.
Following the transactions, both executives maintain substantial ownership positions through various trust arrangements and investment partnerships, indicating continued long-term alignment with shareholder interests despite the significant recent sales.