Insider Selling: Okta (NASDAQ:OKTA) Insider Sells 2,410 Shares of Stock

Key Points

• Okta insider Eric Robert Kelleher sold 2,410 shares of stock on October 1st for approximately $221,069, decreasing his position by 20.80% and leaving him with 9,174 shares valued around $841,531.
• The company's stock price decreased by 1.7% on the following trading day, closing at $93.30, with a market capitalization of $16.33 billion.
• Okta's latest earnings report showed a 12.7% revenue increase year-over-year, with earnings per share of $0.91, exceeding analysts' expectations of $0.84.

Okta, Inc. (NASDAQ:OKTA - Get Free Report) insider Eric Robert Kelleher sold 2,410 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $91.73, for a total transaction of $221,069.30. Following the sale, the insider directly owned 9,174 shares of the company's stock, valued at approximately $841,531.02. The trade was a 20.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Thursday, September 18th, Eric Robert Kelleher sold 8,522 shares of Okta stock. The stock was sold at an average price of $92.62, for a total value of $789,307.64.
• On Tuesday, July 15th, Eric Robert Kelleher sold 16,018 shares of Okta stock. The shares were sold at an average price of $91.81, for a total value of $1,470,612.58.

Okta Stock Down 1.7%

OKTA traded down $1.62 during trading on Friday, hitting $93.30. The company's stock had a trading volume of 2,010,160 shares, compared to its average volume of 3,632,829. The stock has a market capitalization of $16.33 billion, a price-to-earnings ratio of 109.76, a price-to-earnings-growth ratio of 4.50 and a beta of 0.84. The firm's 50 day moving average price is $92.65 and its two-hundred day moving average price is $100.79. 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 announced its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.07. The company had revenue of $728,000 billion during the quarter, compared to analyst estimates of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.The firm's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company posted $0.72 earnings per share. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. On average, sell-side analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

OKTA has been the topic of several research reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $130.00 price objective on shares of Okta in a report on Wednesday, August 27th. Citigroup reiterated a "market perform" rating on shares of Okta in a report on Wednesday, August 27th. BMO Capital Markets cut their target price on shares of Okta from $132.00 to $112.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 27th. DA Davidson reaffirmed a "buy" rating and issued a $140.00 target price on shares of Okta in a research note on Friday, September 26th. Finally, Wall Street Zen upgraded shares of Okta from a "hold" rating to a "buy" rating in a report on Sunday, August 3rd. Twenty-two equities research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $118.94.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TD Private Client Wealth LLC increased its holdings in shares of Okta by 19.6% in the first quarter. TD Private Client Wealth LLC now owns 561 shares of the company's stock worth $59,000 after acquiring an additional 92 shares in the last quarter. Allworth Financial LP increased its stake in Okta by 5.7% during the 1st quarter. Allworth Financial LP now owns 1,708 shares of the company's stock worth $173,000 after purchasing an additional 92 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Okta by 12.6% during the 1st quarter. Smartleaf Asset Management LLC now owns 824 shares of the company's stock worth $89,000 after buying an additional 92 shares during the period. GPS Wealth Strategies Group LLC raised its holdings in Okta by 7.2% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 1,484 shares of the company's stock worth $156,000 after buying an additional 100 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in Okta by 18.9% in the first quarter. First Horizon Advisors Inc. now owns 678 shares of the company's stock valued at $71,000 after buying an additional 108 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Okta Company Profile

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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