Larissa Schwartz Sells 24,971 Shares of Okta (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 24,971 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $134.13, for a total transaction of $3,349,360.23. Following the transaction, the insider directly owned 23,477 shares in the company, valued at approximately $3,148,970.01. This trade represents a 51.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, May 7th, Larissa Schwartz sold 1,054 shares of Okta stock. The stock was sold at an average price of $80.00, for a total transaction of $84,320.00.
• On Wednesday, May 6th, Larissa Schwartz sold 5,323 shares of Okta stock. The stock was sold at an average price of $77.06, for a total transaction of $410,190.38.
• On Tuesday, April 7th, Larissa Schwartz sold 6,377 shares of Okta stock. The stock was sold at an average price of $79.75, for a total transaction of $508,565.75.
• On Tuesday, March 10th, Larissa Schwartz sold 1,836 shares of Okta stock. The stock was sold at an average price of $79.89, for a total transaction of $146,678.04.

Okta Stock Performance

Shares of NASDAQ:OKTA opened at $118.72 on Friday. The firm has a market cap of $21.00 billion, a PE ratio of 86.03, a price-to-earnings-growth ratio of 4.75 and a beta of 0.80. The firm’s 50 day simple moving average is $84.84 and its 200-day simple moving average is $84.50. Okta, Inc. has a one year low of $62.66 and a one year high of $142.35.

Okta (NASDAQ:OKTA) last issued its earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $765.00 million for the quarter, compared to analyst estimates of $751.84 million. Okta had a net margin of 8.24% and a return on equity of 4.15%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company posted $0.86 earnings per share. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. Equities research analysts predict that Okta, Inc. will post 1.63 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on OKTA shares. Wolfe Research started coverage on shares of Okta in a research note on Thursday, April 16th. They issued an “outperform” rating for the company. Sanford C. Bernstein reissued an “outperform” rating and issued a $134.00 price objective on shares of Okta in a research note on Friday, March 6th. Oppenheimer boosted their price objective on shares of Okta from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Seaport Research Partners downgraded shares of Okta to a “neutral” rating in a research note on Thursday, April 16th. Finally, Susquehanna boosted their price objective on shares of Okta from $80.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Okta has a consensus rating of “Moderate Buy” and a consensus target price of $112.29.

Hedge Funds Weigh In On Okta

A number of large investors have recently made changes to their positions in OKTA. Elevation Wealth Partners LLC increased its position in shares of 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 purchasing an additional 264 shares in the last quarter. SHP Wealth Management acquired a new position in shares of Okta during the fourth quarter worth $27,000. Torren Management LLC acquired a new position in shares of Okta during the fourth quarter worth $32,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Okta during the third quarter worth $34,000. Finally, Westside Investment Management Inc. increased its position in shares of Okta by 86.9% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock worth $38,000 after purchasing an additional 193 shares in the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

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.