Okta (NASDAQ:OKTA) CEO Sells $912,415.63 in Stock

Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon sold 11,263 shares of the stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $81.01, for a total value of $912,415.63. Following the sale, the chief executive officer owned 97,083 shares in the company, valued at $7,864,693.83. The trade was a 10.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Okta Price Performance

Shares of NASDAQ OKTA traded up $1.36 during mid-day trading on Wednesday, hitting $78.12. The company had a trading volume of 4,701,036 shares, compared to its average volume of 3,262,874. Okta, Inc. has a 12 month low of $68.77 and a 12 month high of $127.57. The stock has a market cap of $13.82 billion, a price-to-earnings ratio of 59.63, a PEG ratio of 3.17 and a beta of 0.79. The firm’s 50 day simple moving average is $82.50 and its two-hundred day simple moving average is $86.29.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Wednesday, March 4th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. Okta had a return on equity of 4.18% and a net margin of 8.05%.The firm had revenue of $761.00 million during the quarter, compared to the consensus estimate of $749.87 million. During the same period in the prior year, the business earned $0.78 EPS. The firm’s revenue was up 11.6% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. Equities analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta declared that its board has approved a stock repurchase program on Monday, January 5th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on OKTA. Deutsche Bank Aktiengesellschaft decreased their price objective on Okta from $85.00 to $80.00 and set a “hold” rating for the company in a report on Thursday, March 5th. Wells Fargo & Company initiated coverage on Okta in a research note on Tuesday, March 3rd. They set an “equal weight” rating and a $76.00 target price on the stock. Sanford C. Bernstein reiterated an “outperform” rating and set a $134.00 price target on shares of Okta in a research report on Friday, March 6th. KeyCorp decreased their price target on Okta from $115.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, March 5th. Finally, Jefferies Financial Group lowered their price target on Okta from $125.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.25.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OKTA. Promus Capital LLC acquired a new stake in Okta in the 2nd quarter valued at about $27,000. Root Financial Partners LLC bought a new stake in shares of Okta in the 3rd quarter worth approximately $26,000. Elevation Wealth Partners LLC raised its holdings in shares of Okta by 825.0% in the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock worth $26,000 after purchasing an additional 264 shares in the last quarter. SHP Wealth Management acquired a new stake in Okta during the fourth quarter valued at approximately $27,000. Finally, Torren Management LLC acquired a new stake in Okta during the fourth quarter valued at approximately $32,000. Institutional investors own 86.64% of the company’s stock.

Key Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Earnings beat, revenue growth and buyback — Okta reported an EPS and revenue beat in early March and reiterated FY‑2027 guidance; the company also has a $1.0B share‑repurchase authorization, which supports shareholder value. Okta Earnings Beat, But Growth Questions Remain
• Positive Sentiment: Broader market rally lifted the stock — Comments that triggered a broad market rally recently helped push OKTA higher as investors rotated back into software names. Okta (OKTA) Stock Trades Up, Here Is Why
• Neutral Sentiment: Media and analyst attention — OKTA is a “trending” stock on Zacks and has mixed analyst positioning (consensus Moderate Buy, target ~ $103.25), which can amplify volatility but doesn’t change fundamentals immediately. Okta, Inc. (OKTA) Is a Trending Stock
• Neutral Sentiment: Short‑interest reporting looks erroneous — recent short‑interest entries show 0 shares and NaN changes (likely a data error); until reliable short‑interest figures are posted, don’t read too much into those prints.
• Negative Sentiment: Competitive risk from AI automations — reports that Anthropic’s Claude can control computers (imitating keystrokes/mouse) spooked investors worried about new vectors for identity/access threats or shifts in how access controls are managed, contributing to intraday weakness. Why Okta (OKTA) Stock Is Nosediving
• Negative Sentiment: Insider selling — CEO Todd McKinnon sold 11,263 shares (filed with the SEC) and another senior exec (Eric Kelleher) sold 16,818 shares recently; sizable insider sales can be perceived negatively by investors even if they’re for personal liquidity. McKinnon SEC Filing Kelleher Insider Trade

Okta Company Profile

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.