Okta (NASDAQ:OKTA) Insider Larissa Schwartz Sells 1,836 Shares

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 1,836 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $83.47, for a total transaction of $153,250.92. Following the completion of the sale, the insider owned 36,328 shares of the company’s stock, valued at approximately $3,032,298.16. The trade was a 4.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, January 7th, Larissa Schwartz sold 1,899 shares of Okta stock. The shares were sold at an average price of $90.74, for a total transaction of $172,315.26.
• On Friday, December 5th, Larissa Schwartz sold 1,318 shares of Okta stock. The stock was sold at an average price of $85.71, for a total transaction of $112,965.78.

Okta Trading Up 0.3%

Shares of NASDAQ:OKTA opened at $88.45 on Wednesday. The firm has a market cap of $15.68 billion, a price-to-earnings ratio of 81.15, a P/E/G ratio of 3.51 and a beta of 0.77. Okta, Inc. has a 1 year low of $75.05 and a 1 year high of $127.57. The business has a fifty day simple moving average of $88.82 and a 200 day simple moving average of $89.30.

Okta (NASDAQ:OKTA) last issued its earnings results on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. Okta had a return on equity of 3.77% and a net margin of 6.87%.The firm had revenue of $742.00 million for the quarter, compared to the consensus estimate of $730.23 million. During the same quarter in the previous year, the company posted $0.67 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. On average, sell-side analysts forecast that Okta, Inc. will post 0.42 EPS for the current year.

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

Hedge Funds Weigh In On Okta

Several institutional investors have recently bought and sold shares of the business. Integrated Wealth Concepts LLC bought a new position in shares of Okta in the first quarter worth about $225,000. NewEdge Advisors LLC grew its holdings in Okta by 853.4% during the first quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock valued at $582,000 after purchasing an additional 4,950 shares during the period. Sivia Capital Partners LLC acquired a new position in Okta during the second quarter valued at approximately $244,000. Maryland State Retirement & Pension System grew its holdings in shares of Okta by 5.8% in the 2nd quarter. Maryland State Retirement & Pension System now owns 8,007 shares of the company’s stock valued at $800,000 after buying an additional 441 shares during the period. Finally, Callan Family Office LLC acquired a new position in Okta in the second quarter valued at about $399,000. Institutional investors own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

OKTA has been the subject of several recent research reports. Guggenheim reissued a “buy” rating and issued a $138.00 target price on shares of Okta in a research report on Wednesday, December 3rd. Barclays dropped their target price on shares of Okta from $112.00 to $95.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 18th. DA Davidson reiterated a “buy” rating and set a $140.00 price target on shares of Okta in a report on Wednesday, December 3rd. Mizuho reduced their target price on shares of Okta from $120.00 to $110.00 and set an “outperform” rating for the company in a research note on Monday, November 17th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Okta in a research report on Thursday, January 22nd. Twenty-five research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $113.88.

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.