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

Okta, Inc. (NASDAQ:OKTA) insider Eric Robert Kelleher sold 3,977 shares of Okta stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $114.10, for a total transaction of $453,775.70. Following the completion of the transaction, the insider directly owned 19,618 shares in the company, valued at $2,238,413.80. The trade was a 16.86% 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. 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 Stock Performance

Okta stock traded up $2.22 during midday trading on Tuesday, hitting $118.16. 3,157,890 shares of the company’s stock were exchanged, compared to its average volume of 3,694,926. Okta, Inc. has a 12-month low of $62.66 and a 12-month high of $142.35. The stock has a market cap of $20.54 billion, a price-to-earnings ratio of 85.62, a price-to-earnings-growth ratio of 4.27 and a beta of 0.80. The firm’s 50 day simple moving average is $93.53 and its 200 day simple moving average is $87.35.

Okta (NASDAQ:OKTA) last announced its earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.15%. The business had revenue of $765.00 million during the quarter, compared to analysts’ expectations of $751.84 million. During the same period in the prior year, the company earned $0.86 earnings per share. The business’s revenue was up 11.2% compared to the same quarter last year. 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, equities research analysts forecast that Okta, Inc. will post 1.74 EPS for the current fiscal year.

Institutional Investors Weigh In On Okta

Institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP lifted its holdings in shares of Okta by 28.2% in the 4th 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 grew its holdings 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 worth $281,209,000 after acquiring an additional 1,485,963 shares during the period. Geode Capital Management LLC grew its holdings 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 acquiring an additional 57,605 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Okta by 2.9% in 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 acquiring an additional 69,653 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in Okta by 28.4% in the first quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company’s stock valued at $195,844,000 after acquiring an additional 550,328 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on OKTA shares. DA Davidson upped their price objective on Okta from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, May 29th. UBS Group boosted their target price on Okta from $115.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Zacks Research cut Okta from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. Arete Research set a $127.00 price target on Okta and gave the stock a “buy” rating in a report on Tuesday, May 26th. Finally, Jefferies Financial Group lifted their price objective on shares of Okta from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, May 29th. One investment 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $114.14.

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.