Insider Selling: Okta (NASDAQ:OKTA) Insider Sells $429,633.95 in Stock

Okta, Inc. (NASDAQ:OKTA) insider Eric Kelleher sold 2,549 shares of Okta stock in a transaction on Friday, September 11th. The shares were sold at an average price of $168.55, for a total value of $429,633.95. Following the completion of the sale, the insider owned 17,069 shares in the company, valued at $2,876,979.95. This represents a 12.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Eric Robert Kelleher also recently made the following trade(s):

• On Thursday, June 18th, Eric Kelleher sold 3,977 shares of Okta stock. The stock was sold at an average price of $114.10, for a total value of $453,775.70.

Okta Trading Up 1.0%

Shares of OKTA opened at $190.02 on Friday. The firm has a market cap of $33.22 billion, a P/E ratio of 114.47, a price-to-earnings-growth ratio of 5.85 and a beta of 0.79. Okta, Inc. has a 12-month low of $62.66 and a 12-month high of $192.59. The company’s 50-day moving average price is $152.68 and its 200 day moving average price is $115.01.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.09. The company had revenue of $805.00 million during the quarter, compared to analyst estimates of $793.00 million. Okta had a net margin of 9.63% and a return on equity of 4.50%. Okta’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 earnings per share. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. Equities research analysts forecast that Okta, Inc. will post 1.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

OKTA has been the topic of several research reports. UBS Group increased their target price on Okta from $150.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. Scotiabank reiterated an “outperform” rating and set a $190.00 price target on shares of Okta in a research note on Thursday, August 27th. Needham & Company LLC increased their price target on shares of Okta from $140.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Robert W. Baird lifted their price objective on shares of Okta from $175.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Finally, Capital One Financial set a $171.00 target price on shares of Okta and gave the stock an “overweight” rating in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $175.11.

Institutional Investors Weigh In On Okta

A number of hedge funds have recently bought and sold shares of OKTA. Norges Bank purchased a new position in shares of Okta in the 4th quarter valued at $175,193,000. Allspring Global Investments Holdings LLC lifted its position in Okta by 71.9% in 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 acquiring an additional 1,485,963 shares during the last quarter. Swedbank AB lifted its position in Okta by 124.3% in the fourth quarter. Swedbank AB now owns 1,819,081 shares of the company’s stock valued at $157,296,000 after acquiring an additional 1,007,915 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake 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 in the last quarter. Finally, Jupiter Asset Management Ltd. grew its holdings in shares of Okta by 2,982.2% during the fourth quarter. Jupiter Asset Management Ltd. now owns 514,449 shares of the company’s stock worth $44,484,000 after purchasing an additional 497,758 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: BTIG raised its price target and upgraded Okta to Buy. BTIG lifted its target from $187 to $219, implying additional upside based on the referenced price. The call reinforces the bullish view following Okta’s earnings beat, which included $805 million of revenue and $1.05 in quarterly EPS versus estimates of $793 million and $0.96, respectively. BTIG analyst action
• Positive Sentiment: Okta expanded its international distribution relationship with Exclusive Networks. The companies plan to scale Okta’s identity-first security offerings across sub-Saharan Africa, potentially broadening channel reach and future customer demand. Exclusive Networks and Okta partnership
• Positive Sentiment: AI security is strengthening Okta’s growth narrative. CEO Todd McKinnon has highlighted AI agents as a new identity category and warned that AI adoption may increase cybersecurity risks. New AI-focused identity governance and privileged-access tools could help Okta protect both human and machine identities. Okta CEO discusses AI agents
• Neutral Sentiment: Investors are awaiting additional strategic details. Okta’s upcoming keynote and investor summit may provide updates on AI products, demand trends and financial guidance. Its recent rally has also prompted speculation about whether the stock can reach $200. Okta rally and $200 target discussion
• Negative Sentiment: Bernstein downgraded Okta despite raising some cybersecurity price targets. The firm is pushing back against the sector’s bullish AI-security narrative, creating a valuation and expectations risk for Okta after its strong run. A commentary piece likewise described the shares as overpriced. Analyst downgrades cybersecurity stocks
• Negative Sentiment: An insider sold shares. Eric Kelleher sold 2,549 shares for approximately $429,634 under a pre-arranged Rule 10b5-1 plan. The transaction is a modest sentiment negative but does not necessarily signal a discretionary bearish view.

Okta Company Profile

Okta, Inc provides cloud-based identity and access management solutions for organizations. Its platform helps businesses securely connect employees, customers, partners and applications while managing authentication, authorization and user access across cloud, on-premises and mobile environments.

The company’s offerings include single sign-on, multifactor authentication, adaptive access controls, lifecycle management, identity governance and privileged access capabilities. Through its Customer Identity Cloud, powered by Auth0, Okta also provides tools for developers and businesses to embed authentication and authorization features into applications and digital services.

Founded in 2009 by Todd McKinnon and Frederic Kerrest, Okta completed its initial public offering in 2017.