Larissa Schwartz Sells 2,463 Shares of Okta (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,463 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $120.00, for a total transaction of $295,560.00. Following the completion of the transaction, the insider owned 25,241 shares of the company’s stock, valued at approximately $3,028,920. This trade represents a 8.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 Tuesday, June 2nd, Larissa Schwartz sold 24,971 shares of Okta stock. The shares were sold at an average price of $134.13, for a total value of $3,349,360.23.
• On Thursday, May 7th, Larissa Schwartz sold 1,054 shares of Okta stock. The shares were 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.

Okta Price Performance

OKTA opened at $119.26 on Friday. The firm has a market capitalization of $20.73 billion, a P/E ratio of 86.42, a price-to-earnings-growth ratio of 4.30 and a beta of 0.80. Okta, Inc. has a one year low of $62.66 and a one year high of $142.35. The company has a fifty day moving average price of $96.80 and a 200-day moving average price of $88.04.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. Okta had a return on equity of 4.15% and a net margin of 8.24%.The company had revenue of $765.00 million during the quarter, compared to analyst estimates of $751.84 million. During the same quarter last year, the company earned $0.86 earnings per share. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, analysts expect that Okta, Inc. will post 1.74 earnings per share for the current year.

Key Headlines Impacting 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.

Analysts Set New Price Targets

Several research analysts have recently commented on OKTA shares. UBS Group boosted their price objective on Okta from $115.00 to $150.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Seaport Research Partners lowered shares of Okta to a “neutral” rating in a research report on Thursday, April 16th. Berenberg Bank boosted their price target on shares of Okta from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Jefferies Financial Group increased their price target on shares of Okta from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Finally, Wells Fargo & Company raised their price objective on shares of Okta from $85.00 to $100.00 and gave the company an “equal weight” rating in a research report on Friday, May 29th. One equities research 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $115.97.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. raised its stake in shares of Okta by 19.1% during the first quarter. Pacer Advisors Inc. now owns 242,615 shares of the company’s stock worth $19,096,000 after acquiring an additional 38,908 shares in the last quarter. Parallel Advisors LLC grew its holdings 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 last quarter. Glenmede Trust Co. NA raised its position in Okta by 7.0% in the 1st quarter. Glenmede Trust Co. NA now owns 540,947 shares of the company’s stock worth $42,578,000 after purchasing an additional 35,324 shares during the period. Bank of America Corp DE raised its position in Okta by 0.4% in the 1st 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 during the period. Finally, Arkadios Wealth Advisors lifted 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 during the last quarter. 86.64% of the stock is currently owned by institutional investors.

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.