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

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 1,836 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $79.89, for a total value of $146,678.04. Following the sale, the insider owned 79,422 shares in the company, valued at approximately $6,345,023.58. This trade represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, February 6th, Larissa Schwartz sold 1,836 shares of Okta stock. The stock was sold at an average price of $83.47, for a total value of $153,250.92.
• 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 value of $172,315.26.

Okta Stock Performance

NASDAQ:OKTA opened at $79.16 on Friday. The firm has a market capitalization of $14.03 billion, a PE ratio of 60.43, a PEG ratio of 3.09 and a beta of 0.79. The stock’s fifty day moving average is $84.39 and its 200 day moving average is $86.99. Okta, Inc. has a fifty-two week low of $68.77 and a fifty-two week high of $127.57.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Wednesday, March 4th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.85 by $0.05. Okta had a net margin of 8.05% and a return on equity of 4.18%. The company had revenue of $761.00 million during the quarter, compared to analyst estimates of $749.87 million. During the same period in the previous year, the firm earned $0.78 earnings per share. Okta’s quarterly revenue was up 11.6% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. Equities analysts forecast that Okta, Inc. will post 0.42 EPS for the current year.

Okta declared that its Board of Directors has approved a stock repurchase plan on Monday, January 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Okta

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Okta by 5.7% during the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock valued at $1,815,956,000 after buying an additional 1,074,977 shares during the period. Bourgeon Capital Management LLC purchased a new stake in Okta during the third quarter worth $7,946,000. Elo Mutual Pension Insurance Co lifted its holdings in Okta by 40.1% during the third quarter. Elo Mutual Pension Insurance Co now owns 52,597 shares of the company’s stock worth $4,823,000 after buying an additional 15,058 shares during the period. SBI Securities Co. Ltd. boosted its position in Okta by 35.3% during the 2nd quarter. SBI Securities Co. Ltd. now owns 35,806 shares of the company’s stock valued at $3,580,000 after acquiring an additional 9,340 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new stake in Okta during the 2nd quarter valued at $30,074,000. 86.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on OKTA shares. Barclays decreased their price objective on shares of Okta from $95.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 24th. Roth Mkm restated a “buy” rating on shares of Okta in a report on Wednesday, December 3rd. KeyCorp reduced their price target on shares of Okta from $115.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, March 5th. Oppenheimer lowered their price objective on shares of Okta from $120.00 to $110.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Finally, Royal Bank Of Canada upped their target price on shares of Okta from $97.00 to $108.00 and gave the stock an “outperform” rating in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.25.

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.