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

Key Points

• Okta insider Eric Kelleher sold 2,549 shares for approximately $429,634 under a pre-arranged Rule 10b5-1 plan, reducing his position by 12.99% to 17,069 shares.
• Okta shares rose 2.1% to $190.45 and are near their one-year high. The company recently exceeded quarterly earnings and revenue expectations, reporting $1.05 in EPS and $805 million in revenue, up 10.6% year over year.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $173.45 target price, while institutional investors own 86.64% of the company.

Okta, Inc. (NASDAQ:OKTA - Get Free Report) insider Eric Kelleher sold 2,549 shares of the company's stock in a transaction that occurred on Friday, September 11th. The stock was 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. The trade was a 12.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 Thursday, June 18th, Eric Kelleher sold 3,977 shares of Okta stock. The shares were sold at an average price of $114.10, for a total value of $453,775.70.

Okta Trading Up 2.1%

NASDAQ:OKTA traded up $4.00 during trading hours on Tuesday, reaching $190.45. 3,921,941 shares of the company traded hands, compared to its average volume of 3,584,710. The business's 50-day moving average price is $150.19 and its two-hundred day moving average price is $112.56. The stock has a market capitalization of $33.29 billion, a P/E ratio of 114.73, a P/E/G ratio of 5.18 and a beta of 0.79. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $191.99.

Okta (NASDAQ:OKTA - Get Free Report) last released its 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 firm had revenue of $805.00 million for the quarter, compared to analysts' expectations of $793.00 million. During the same period in the prior year, the firm posted $0.91 earnings per share. The company's quarterly revenue was up 10.6% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. As a group, equities analysts anticipate that Okta, Inc. will post 1.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on OKTA shares. BTIG Research lifted their target price on shares of Okta from $167.00 to $187.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. Evercore reiterated an "outperform" rating and set a $185.00 price target on shares of Okta in a report on Thursday, August 27th. The Goldman Sachs Group raised their price target on shares of Okta from $126.00 to $203.00 and gave the company a "buy" rating in a research report on Friday, August 28th. KeyCorp boosted their price objective on shares of Okta from $180.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday, August 27th. Finally, HC Wainwright began coverage on Okta in a research report on Monday, July 6th. They issued a "buy" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Okta currently has a consensus rating of "Moderate Buy" and a consensus target price of $173.45.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: CEO Todd McKinnon argued that companies should not slow the development of advanced AI because cyber threat actors are not pausing. His comments reinforce the investment case that wider enterprise AI adoption will increase demand for identity protection, access controls and cybersecurity services. Okta CEO cautions against AI downshift
• Positive Sentiment: McKinnon also said AI may be significantly overestimated as a risk to humanity. While not a direct business update, the relatively constructive view could support continued AI investment and, indirectly, spending on the security infrastructure needed to deploy it safely. Okta CEO discusses AI risk
• Positive Sentiment: Cybersecurity stocks, including Okta, are participating in a second-day rally as investors anticipate that enterprise AI adoption will create additional security requirements. The broader sector momentum is helping lift OKTA despite limited company-specific news. Cybersecurity stocks rally on AI security demand
• Neutral Sentiment: Okta will webcast its Oktane opening keynote and Investor Summit on September 23. Investors may look for updates on strategy, AI initiatives and financial targets, making the event a potential near-term catalyst. Okta Investor Summit webcast announcement
• Negative Sentiment: Analysts noted that the rally was not triggered by a material change to Okta’s revenue outlook or guidance. With the stock near a one-year high and trading at a rich valuation, the shares could be vulnerable if AI enthusiasm fades or the investor event lacks new financial catalysts. What lifted Okta stock to a one-year high

Institutional Trading of Okta

A number of institutional investors have recently made changes to their positions in OKTA. Junto Capital Management LP purchased a new position in shares of Okta during the second quarter valued at approximately $45,486,000. National Pension Service boosted its holdings in Okta by 23.2% in the second quarter. National Pension Service now owns 43,893 shares of the company's stock worth $5,989,000 after purchasing an additional 8,257 shares during the last quarter. NewEdge Advisors LLC grew its position in Okta by 521.5% in the 2nd quarter. NewEdge Advisors LLC now owns 2,828 shares of the company's stock worth $386,000 after purchasing an additional 2,373 shares during the period. GFG Capital LLC grew its position in Okta by 12.0% in the 2nd quarter. GFG Capital LLC now owns 33,971 shares of the company's stock worth $4,635,000 after purchasing an additional 3,639 shares during the period. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD purchased a new stake in Okta during the 2nd quarter valued at $3,444,000. Hedge funds and other institutional investors own 86.64% of the company's stock.

About Okta

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.

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