Insider Selling: Okta (NASDAQ:OKTA) Insider Sells 1,899 Shares of Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 1,899 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $90.74, for a total value of $172,315.26. Following the transaction, the insider directly owned 38,164 shares in the company, valued at approximately $3,463,001.36. The trade was a 4.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Larissa Schwartz also recently made the following trade(s):

• On Friday, December 5th, Larissa Schwartz sold 1,318 shares of Okta stock. The stock was sold at an average price of $85.71, for a total value of $112,965.78.
• On Tuesday, November 11th, Larissa Schwartz sold 1,318 shares of Okta stock. The shares were sold at an average price of $85.26, for a total value of $112,372.68.

Okta Price Performance

Okta stock traded down $1.70 during midday trading on Friday, reaching $92.23. The company’s stock had a trading volume of 1,819,846 shares, compared to its average volume of 2,429,934. The stock has a market capitalization of $16.35 billion, a P/E ratio of 84.61, a PEG ratio of 4.39 and a beta of 0.76. The stock’s 50-day simple moving average is $86.20 and its 200-day simple moving average is $90.62. Okta, Inc. has a 52-week low of $75.05 and a 52-week high of $127.57.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.06. The firm had revenue of $742.00 million for the quarter, compared to the consensus estimate of $730.23 million. Okta had a net margin of 6.87% and a return on equity of 3.77%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.67 earnings per share. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. As a group, equities research analysts expect that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Okta announced that its board has approved a stock buyback program on Monday, January 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OKTA. Stifel Nicolaus reduced their target price on Okta from $130.00 to $121.00 and set a “buy” rating for the company in a research note on Wednesday, December 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Okta in a research note on Wednesday, October 8th. Needham & Company LLC reiterated a “buy” rating and issued a $110.00 target price on shares of Okta in a research report on Friday, December 12th. Canaccord Genuity Group reissued a “buy” rating and set a $120.00 price target on shares of Okta in a research report on Wednesday, December 3rd. Finally, Cowen restated a “hold” rating on shares of Okta in a research note on Wednesday, December 3rd. Twenty-four equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Okta currently has an average rating of “Moderate Buy” and a consensus target price of $114.09.

Hedge Funds Weigh In On Okta

A number of hedge funds have recently bought and sold shares of the business. Pinnacle Bancorp Inc. acquired a new position in shares of Okta during the 2nd quarter worth approximately $26,000. Promus Capital LLC acquired a new stake in Okta in the 2nd quarter valued at $27,000. Root Financial Partners LLC purchased a new stake in Okta in the 3rd quarter worth $26,000. Elevation Wealth Partners LLC raised its position in Okta by 825.0% during the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock worth $26,000 after acquiring an additional 264 shares during the period. Finally, Cullen Frost Bankers Inc. lifted its holdings in Okta by 88.3% during the second quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock valued at $34,000 after purchasing an additional 159 shares in the last quarter. Hedge funds and other institutional investors own 86.64% of the company’s stock.

About Okta

Okta, Inc is a publicly traded provider of identity and access management solutions, headquartered in San Francisco, California. Founded in 2009 by Todd McKinnon and Frederic Kerrest, the company completed its initial public offering in April 2017. Under the leadership of McKinnon as chief executive officer and Kerrest as chief operating officer, Okta has grown into a leading vendor in the cybersecurity space, focusing on secure user authentication, single sign-on and lifecycle management for digital identities.

At the core of Okta’s offering is the Okta Identity Cloud, a suite of cloud-native services that enable organizations to manage user access across web and mobile applications, on-premises systems and APIs.