Insider Selling: Okta (NASDAQ:OKTA) CRO Sells 6,091 Shares of Stock

Key Points

• Okta's CRO, Jonathan James Addison, sold 6,091 shares of the company stock, resulting in a 46.29% decrease in his ownership, while still retaining 7,067 shares valued at approximately $654,475.
• The company's stock price is currently at $92.38, with a market cap of $16.17 billion and a 12-month trading range between $70.92 and $127.57.
• Recent analyst ratings show a mix of sentiment, with multiple firms setting price targets between $100.00 and $150.00, while maintaining an average target price of $118.25.

Okta, Inc. (NASDAQ:OKTA - Get Free Report) CRO Jonathan James Addison sold 6,091 shares of Okta stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $92.61, for a total value of $564,087.51. Following the transaction, the executive owned 7,067 shares in the company, valued at approximately $654,474.87. This trade represents a 46.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Jonathan James Addison also recently made the following trade(s):

• On Friday, July 25th, Jonathan James Addison sold 9,000 shares of Okta stock. The shares were sold at an average price of $100.00, for a total value of $900,000.00.
• On Tuesday, July 15th, Jonathan James Addison sold 3,000 shares of Okta stock. The shares were sold at an average price of $91.81, for a total value of $275,430.00.
• On Tuesday, July 15th, Jonathan James Addison sold 3,000 shares of Okta stock. The shares were sold at an average price of $91.81, for a total value of $275,430.00.
• On Monday, July 14th, Jonathan James Addison sold 6,027 shares of Okta stock. The stock was sold at an average price of $92.01, for a total value of $554,544.27.
• On Monday, July 14th, Jonathan James Addison sold 6,027 shares of Okta stock. The stock was sold at an average price of $92.01, for a total value of $554,544.27.

Okta Stock Performance

Shares of NASDAQ:OKTA traded down $0.99 during mid-day trading on Monday, hitting $92.38. The stock had a trading volume of 2,518,523 shares, compared to its average volume of 3,686,110. The company has a market cap of $16.17 billion, a PE ratio of 108.68, a P/E/G ratio of 4.57 and a beta of 0.83. The company's 50 day moving average is $93.00 and its 200-day moving average is $101.77. Okta, Inc. has a 12-month low of $70.92 and a 12-month high of $127.57.

Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.07. Okta had a return on equity of 3.31% and a net margin of 6.08%.The firm had revenue of $728,000 billion for the quarter, compared to analyst estimates of $711.84 million. During the same period in the previous year, the firm earned $0.72 earnings per share. Okta's quarterly revenue was up 12.7% on a year-over-year basis. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. On average, equities research analysts predict that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. UBS Group decreased their price objective on Okta from $150.00 to $130.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Cantor Fitzgerald reissued an "overweight" rating and set a $130.00 price objective on shares of Okta in a research report on Wednesday, August 27th. Jefferies Financial Group lifted their price objective on Okta from $100.00 to $105.00 and gave the company a "hold" rating in a research report on Wednesday, August 27th. Scotiabank reduced their price objective on Okta from $115.00 to $105.00 and set a "sector perform" rating for the company in a research report on Wednesday, August 27th. Finally, Needham & Company LLC reissued a "buy" rating and set a $125.00 price objective on shares of Okta in a research report on Wednesday, August 27th. Twenty-two equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $118.25.

Hedge Funds Weigh In On Okta

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. American Trust bought a new position in Okta during the second quarter valued at about $489,000. Centaurus Financial Inc. bought a new stake in shares of Okta in the 2nd quarter valued at approximately $132,000. Thrivent Financial for Lutherans grew its stake in shares of Okta by 298.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 50,503 shares of the company's stock valued at $5,049,000 after purchasing an additional 37,820 shares during the period. Promus Capital LLC bought a new stake in shares of Okta in the 2nd quarter valued at approximately $27,000. Finally, State of Wyoming bought a new stake in Okta during the 2nd quarter worth approximately $84,000. 86.64% of the stock is currently owned by institutional investors.

About Okta

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.

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