Okta (NASDAQ:OKTA) CFO Brett Tighe Sells 65,000 Shares of Stock

Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe sold 65,000 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $117.25, for a total value of $7,621,250.00. Following the transaction, the chief financial officer directly owned 119,680 shares of the company’s stock, valued at approximately $14,032,480. The trade was a 35.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Okta Price Performance

Shares of OKTA stock opened at $114.92 on Thursday. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $142.35. The stock’s 50 day simple moving average is $87.31 and its two-hundred day simple moving average is $85.31. The company has a market cap of $19.97 billion, a PE ratio of 83.28, a price-to-earnings-growth ratio of 4.35 and a beta of 0.80.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Okta had a return on equity of 4.15% and a net margin of 8.24%.The business had revenue of $765.00 million for the quarter, compared to the consensus estimate of $751.84 million. During the same period in the prior year, the business posted $0.86 earnings per share. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. 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 expect that Okta, Inc. will post 1.74 EPS for the current year.

Institutional Investors Weigh In On Okta

Several hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC raised its holdings in shares of Okta by 20.3% in the first quarter. Parallel Advisors LLC now owns 5,611 shares of the company’s stock worth $442,000 after buying an additional 945 shares during the period. Glenmede Trust Co. NA raised its holdings in shares of Okta by 7.0% in the first quarter. Glenmede Trust Co. NA now owns 540,947 shares of the company’s stock worth $42,578,000 after buying an additional 35,324 shares during the period. Bank of America Corp DE grew its stake in Okta by 0.4% in the first quarter. Bank of America Corp DE now owns 1,496,896 shares of the company’s stock worth $117,821,000 after purchasing an additional 6,533 shares in the last quarter. Arkadios Wealth Advisors grew its stake in Okta by 133.4% in the first quarter. Arkadios Wealth Advisors now owns 12,295 shares of the company’s stock worth $968,000 after purchasing an additional 7,028 shares in the last quarter. Finally, South Dakota Investment Council grew its stake in Okta by 11.1% in the first quarter. South Dakota Investment Council now owns 47,783 shares of the company’s stock worth $3,761,000 after purchasing an additional 4,777 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on OKTA. Royal Bank Of Canada lifted their price target on shares of Okta from $108.00 to $122.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Needham & Company LLC raised their price objective on shares of Okta from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Truist Financial boosted their target price on Okta from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Berenberg Bank increased their price target on Okta from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Finally, Wedbush reiterated an “outperform” rating and issued a $60.00 price target on shares of Okta in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Okta currently has an average rating of “Moderate Buy” and an average target price of $114.14.

Key Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta’s latest update showed revenue and earnings above expectations, and management raised full-year guidance, reinforcing the company’s growth story and helping support the stock. Okta (OKTA) Valuation In Focus After Earnings Beat And Raised Full Year Guidance
• Positive Sentiment: Analysts highlighted Okta’s strong backlog and AI identity opportunity, with remaining performance obligations reaching $4.72 billion, which points to healthy demand visibility. OKTA’s Strong Backlog and AI Opportunity Drive Growth: What’s Ahead?
• Neutral Sentiment: Market commentary suggests the bullish earnings and AI narrative is being offset by debate over whether Okta’s valuation already reflects much of the upside. How The Okta (OKTA) Narrative Is Shifting With AI Hopes And Valuation Concerns
• Negative Sentiment: Okta CFO Brett Tighe sold 65,000 shares in a pre-arranged 10b5-1 transaction, a move that can weigh on sentiment even though it was disclosed as part of a trading plan. SEC filing for insider transaction
• Negative Sentiment: Recent coverage also points to renewed short-term pressure and volatility in cybersecurity stocks, suggesting traders may be taking profits after the post-earnings move higher.

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.