Okta (NASDAQ:OKTA) Insider Sells $453,775.70 in Stock

Okta, Inc. (NASDAQ:OKTA) insider Eric Robert Kelleher sold 3,977 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $114.10, for a total transaction of $453,775.70. Following the sale, the insider directly owned 19,618 shares in the company, valued at approximately $2,238,413.80. The trade was a 16.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Eric Robert Kelleher also recently made the following trade(s):

• On Wednesday, April 1st, Eric Robert Kelleher sold 2,409 shares of Okta stock. The stock was sold at an average price of $80.00, for a total transaction of $192,720.00.

Okta Price Performance

NASDAQ OKTA opened at $119.26 on Friday. The business’s fifty day moving average price is $96.80 and its 200-day moving average price is $88.04. The stock has a market capitalization of $20.73 billion, a price-to-earnings ratio of 86.42, a PEG ratio of 4.30 and a beta of 0.80. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $142.35.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on OKTA. Weiss Ratings upgraded shares of Okta from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 3rd. Royal Bank Of Canada boosted their target price on shares of Okta from $108.00 to $122.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Wall Street Zen cut shares of Okta from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. BMO Capital Markets increased their price target on shares of Okta from $95.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Finally, Citigroup reiterated an “outperform” rating on shares of Okta in a research note on Friday, May 29th. One equities 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 given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.97.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: BTIG Research raised its price target on Okta to $136 from $119 and reiterated a Buy rating, signaling more upside potential for the stock.
• Positive Sentiment: Needham & Company lifted its price target to $140 from $120 and kept a Buy rating, adding to the bullish analyst momentum around Okta.
• Positive Sentiment: Okta continues to benefit from investor enthusiasm around its role in AI security and identity access management, including coverage highlighting its Cross App Access expansion and other AI-related product positioning. Okta expands Cross App Access ecosystem to secure AI agent connections
• Positive Sentiment: Recent earnings also remain supportive, with Okta beating revenue and EPS estimates and issuing guidance that suggests continued growth.
• Neutral Sentiment: Okta’s short-interest update showed no meaningful short position change, so it does not appear to be a major driver for the stock today.
• Neutral Sentiment: Recent commentary on whether Okta still offers value after its rally reflects mixed investor debate, but it does not change the fundamental story by itself. Okta (OKTA) Stock After 42% YTD Rally Is There Value Left For Investors
• Negative Sentiment: Insiders Larissa Schwartz and Eric Robert Kelleher sold shares in pre-arranged Rule 10b5-1 transactions, which is routine but can still temper sentiment for some investors.

Hedge Funds Weigh In On Okta

Several large investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in shares of Okta by 19.1% in the first quarter. Pacer Advisors Inc. now owns 242,615 shares of the company’s stock worth $19,096,000 after purchasing an additional 38,908 shares during the period. Parallel Advisors LLC raised its position in shares of Okta by 20.3% during the 1st quarter. Parallel Advisors LLC now owns 5,611 shares of the company’s stock valued at $442,000 after purchasing an additional 945 shares during the period. Glenmede Trust Co. NA lifted its stake in shares of Okta by 7.0% during the 1st quarter. Glenmede Trust Co. NA now owns 540,947 shares of the company’s stock valued at $42,578,000 after buying an additional 35,324 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Okta by 0.4% during the 1st quarter. Bank of America Corp DE now owns 1,496,896 shares of the company’s stock valued at $117,821,000 after buying an additional 6,533 shares in the last quarter. Finally, Arkadios Wealth Advisors boosted its holdings in Okta by 133.4% in the 1st quarter. Arkadios Wealth Advisors now owns 12,295 shares of the company’s stock worth $968,000 after buying an additional 7,028 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

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.