Rep. Maria Elvira Salazar Purchases Shares of Okta, Inc. (NASDAQ:OKTA)

Key Points

• Rep. Maria Elvira Salazar purchased between $1,001 and $15,000 of Okta shares on September 4 through her UBS brokerage account. She also reported selling similarly sized positions in 10 other companies on September 24.
• Okta shares opened at $220.21, near their 12-month high of $226.44. The company recently exceeded quarterly earnings and revenue expectations, reporting $1.05 in EPS and $805 million in revenue, with revenue up 10.6% year over year.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and a $200.72 target price, while Okta insiders have sold $23.9 million worth of stock over the past 90 days.

Representative Maria Elvira Salazar (Republican-Florida) recently bought shares of Okta, Inc. NASDAQ: OKTA. In a filing disclosed on October 7th, the Representative disclosed that they had bought between $1,001 and $15,000 in Okta stock on September 4th. The trade occurred in the Representative's "UBS BROKERAGE ACCOUNT" account.

Representative Maria Elvira Salazar also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Citigroup NYSE: C on 9/24/2026.
• Sold $1,001 - $15,000 in shares of Chubb NYSE: CB on 9/24/2026.
• Sold $1,001 - $15,000 in shares of Microsoft NASDAQ: MSFT on 9/24/2026.
• Sold $1,001 - $15,000 in shares of GE Aerospace NYSE: GE on 9/24/2026.
• Sold $1,001 - $15,000 in shares of Honeywell International NASDAQ: HON on 9/24/2026.
• Sold $1,001 - $15,000 in shares of Snowflake NYSE: SNOW on 9/24/2026.
• Sold $1,001 - $15,000 in shares of FedEx NYSE: FDX on 9/24/2026.
• Sold $1,001 - $15,000 in shares of Salesforce NYSE: CRM on 9/24/2026.
• Sold $1,001 - $15,000 in shares of RH NYSE: RH on 9/24/2026.
• Sold $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 9/24/2026.

Okta Stock Up 1.0%

Shares of NASDAQ:OKTA opened at $220.21 on Friday. The business has a 50 day moving average price of $171.88 and a 200 day moving average price of $128.55. Okta, Inc. has a twelve month low of $62.66 and a twelve month high of $226.44. The company has a market cap of $38.50 billion, a price-to-earnings ratio of 132.66, a PEG ratio of 6.78 and a beta of 0.73.

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

Insider Activity at Okta

In other news, insider Eric Kelleher sold 6,395 shares of the company's stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $183.58, for a total value of $1,173,994.10. Following the sale, the insider owned 18,668 shares of the company's stock, valued at approximately $3,427,071.44. This represents a 25.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 41,251 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $162.44, for a total transaction of $6,700,812.44. Following the sale, the chief financial officer owned 7,693 shares of the company's stock, valued at $1,249,650.92. This trade represents a 84.28% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 137,766 shares of company stock valued at $23,927,112 in the last 90 days. 4.61% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

OKTA has been the subject of several research analyst reports. DA Davidson upped their target price on shares of Okta from $190.00 to $235.00 and gave the company a "buy" rating in a research note on Thursday, September 24th. Susquehanna boosted their price objective on shares of Okta from $110.00 to $185.00 and gave the stock a "neutral" rating in a report on Friday, August 28th. Roth Capital upped their price objective on shares of Okta from $155.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday, September 24th. HC Wainwright assumed coverage on shares of Okta in a research note on Monday, July 6th. They issued a "buy" rating for the company. Finally, Canaccord Genuity Group lifted their target price on Okta from $115.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $200.72.

Hedge Funds Weigh In On Okta

A number of hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted 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 worth $281,209,000 after purchasing an additional 1,485,963 shares during the period. Pictet Asset Management Holding SA grew its stake in shares of Okta by 28.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company's stock valued at $195,844,000 after purchasing an additional 550,328 shares during the period. Swedbank AB grew its stake in shares of Okta by 21.9% in the 1st quarter. Swedbank AB now owns 2,216,588 shares of the company's stock valued at $174,468,000 after purchasing an additional 397,507 shares during the period. Bank of America Corp DE raised its holdings in shares of Okta by 0.4% in the 1st quarter. Bank of America Corp DE now owns 1,496,896 shares of the company's stock worth $117,821,000 after buying an additional 6,533 shares in the last quarter. Finally, Senvest Management LLC raised its holdings in shares of Okta by 54.5% in the 1st quarter. Senvest Management LLC now owns 830,515 shares of the company's stock worth $65,370,000 after buying an additional 292,900 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

About Representative Salazar

Maria Elvira Salazar (Republican Party) is a member of the U.S. House, representing Florida's 27th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2027. Salazar (Republican Party) ran for re-election to the U.S. House to represent Florida's 27th Congressional District. She won in the general election on November 5, 2024. Maria Elvira Salazar was born in Miami, Florida, and lives in Coral Gables, Florida. Salazar earned an undergraduate degree from the University of Miami in 1983 and a graduate degree from Harvard University in 1995. Her career experience includes working as a television journalist, reporter, and news anchor.

About Okta

Okta, Inc is an identity and access management company that helps organizations secure and manage access to applications, systems, devices and digital services. Its platform is designed to support employees, contractors, partners, customers and other users across cloud-based and on-premises environments.

Okta's products include single sign-on, multifactor authentication, lifecycle management, identity governance, privileged access and identity threat protection. Through its Workforce Identity Cloud and Customer Identity Cloud, the company provides tools for workforce access management and for integrating authentication and authorization capabilities into customer-facing applications.

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