Shellye Archambeau Sells 2,500 Shares of Okta (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) Director Shellye Archambeau sold 2,500 shares of Okta stock in a transaction on Monday, May 18th. The stock was sold at an average price of $85.00, for a total value of $212,500.00. Following the sale, the director owned 9,192 shares in the company, valued at $781,320. This trade represents a 21.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Okta Stock Up 3.9%

Okta stock traded up $3.34 during mid-day trading on Wednesday, reaching $89.04. 2,967,739 shares of the company’s stock were exchanged, compared to its average volume of 3,380,695. The business’s fifty day simple moving average is $77.27 and its 200 day simple moving average is $82.51. The firm has a market capitalization of $15.75 billion, a PE ratio of 67.97, a P/E/G ratio of 3.39 and a beta of 0.59. Okta, Inc. has a one year low of $62.66 and a one year high of $127.52.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, March 4th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. The business had revenue of $761.00 million for the quarter, compared to analyst estimates of $749.87 million. Okta had a return on equity of 4.18% and a net margin of 8.05%.Okta’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company posted $0.78 earnings per share. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. On average, sell-side analysts forecast that Okta, Inc. will post 1.61 earnings per share for the current year.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta is expected to beat its fiscal first-quarter bookings and contracted revenue growth target when it reports on May 28, and Jefferies reiterated a Buy rating with a $105 price target, citing attractive valuation after the stock’s recent rally. Okta set to beat Q1 bookings target but Q2 outlook may disappoint, Jefferies says
• Positive Sentiment: Investor confidence in software names improved as markets softened fears that AI will quickly disrupt traditional software companies, which helped Okta trade higher along with peers. Manhattan Associates, Okta, Commerce, and SentinelOne Stocks Trade Up, What You Need To Know
• Positive Sentiment: Oppenheimer said Okta may deliver modest upside to its fiscal Q1 revenue estimate, reinforcing expectations for a solid quarter. Okta Likely to Deliver Modest Fiscal Q1 Revenue Upside, Oppenheimer Says
• Neutral Sentiment: TD Cowen kept a Hold rating on Okta, which suggests some caution but no major change in outlook. TD Cowen Keeps Their Hold Rating on Okta (OKTA)
• Neutral Sentiment: Okta had recently fallen in the prior session, but the move appeared tied to broader market volatility rather than a company-specific negative development. Here’s Why Okta (OKTA) Fell More Than Broader Market
• Negative Sentiment: Jefferies warned that Okta’s Q2 guidance may fall short of Wall Street expectations, which could pressure the stock after earnings if management sounds conservative. Okta set to beat Q1 bookings target but Q2 outlook may disappoint, Jefferies says

Institutional Investors Weigh In On Okta

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake 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. First Trust Advisors LP boosted its stake in Okta by 28.2% during the fourth quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock valued at $521,422,000 after buying an additional 1,326,051 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Okta by 71.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock valued at $281,209,000 after buying an additional 1,485,963 shares during the period. Geode Capital Management LLC lifted its stake in Okta by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock worth $281,246,000 after purchasing an additional 57,605 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Okta by 2.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,389 shares of the company’s stock worth $215,776,000 after purchasing an additional 69,653 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

OKTA has been the topic of a number of recent analyst reports. Wells Fargo & Company initiated coverage on Okta in a report on Tuesday, March 3rd. They set an “equal weight” rating and a $76.00 price target on the stock. Raymond James Financial upgraded Okta from a “market perform” rating to an “outperform” rating and set a $85.00 price target for the company in a research report on Thursday, April 16th. UBS Group set a $85.00 price target on Okta in a research report on Thursday, April 16th. Needham & Company LLC dropped their price objective on Okta from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Finally, Zacks Research lowered Okta from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Twenty-nine research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $101.19.

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.