Larissa Schwartz Sells 1,054 Shares of Okta (NASDAQ:OKTA) Stock

Key Points

• Okta insider Larissa Schwartz sold 1,054 shares on May 7 at an average price of $80.00, totaling $84,320; the sale was made under a pre-arranged Rule 10b5-1 plan.
• Schwartz has made several recent sales of Okta stock, including 5,323 shares on May 6 and 6,377 shares on April 7, reducing her ownership by 2.13% after the latest transaction.
• Okta shares rose to $83.90 on Friday after the company beat quarterly earnings and revenue estimates, while analysts currently maintain a Moderate Buy consensus with a $100.89 average price target.

Okta, Inc. (NASDAQ:OKTA - Get Free Report) insider Larissa Schwartz sold 1,054 shares of the business's stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $80.00, for a total transaction of $84,320.00. Following the sale, the insider owned 48,448 shares in the company, valued at $3,875,840. This trade represents a 2.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Larissa Schwartz also recently made the following trade(s):

• On Wednesday, May 6th, Larissa Schwartz sold 5,323 shares of Okta stock. The shares were sold at an average price of $77.06, for a total transaction of $410,190.38.
• On Tuesday, April 7th, Larissa Schwartz sold 6,377 shares of Okta stock. The shares were sold at an average price of $79.75, for a total transaction of $508,565.75.
• On Tuesday, March 10th, Larissa Schwartz sold 1,836 shares of Okta stock. The shares were sold at an average price of $79.89, for a total value of $146,678.04.

Okta Stock Performance

Shares of NASDAQ:OKTA traded up $3.02 on Friday, hitting $83.90. 3,745,162 shares of the company's stock were exchanged, compared to its average volume of 3,437,282. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $127.57. The company has a market capitalization of $14.84 billion, a PE ratio of 64.05, a P/E/G ratio of 3.02 and a beta of 0.59. The firm's 50-day moving average is $76.07 and its 200 day moving average is $82.86.

Okta (NASDAQ:OKTA - Get Free Report) last issued its earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.05. The business had revenue of $761.00 million for the quarter, compared to analyst estimates of $749.87 million. Okta had a return on equity of 4.18% and a net margin of 8.05%.The business's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company earned $0.78 EPS. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. On average, analysts anticipate that Okta, Inc. will post 1.61 EPS for the current fiscal year.

Institutional Trading of Okta

Several hedge funds and other institutional investors have recently made changes to their positions in OKTA. Vanguard Group Inc. grew its stake in Okta by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company's stock valued at $1,815,956,000 after acquiring an additional 1,074,977 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Okta by 52.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 465,370 shares of the company's stock valued at $40,241,000 after purchasing an additional 161,069 shares during the last quarter. Elo Mutual Pension Insurance Co grew its position in shares of Okta by 40.1% in the third quarter. Elo Mutual Pension Insurance Co now owns 52,597 shares of the company's stock valued at $4,823,000 after purchasing an additional 15,058 shares during the last quarter. Congress Asset Management Co. grew its position in shares of Okta by 23.0% in the fourth quarter. Congress Asset Management Co. now owns 98,063 shares of the company's stock valued at $8,480,000 after purchasing an additional 18,325 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Okta by 4.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,635,572 shares of the company's stock worth $425,082,000 after purchasing an additional 179,919 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Needham & Company LLC decreased their price objective on shares of Okta from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Thursday, March 5th. Raymond James Financial raised Okta from a "market perform" rating to an "outperform" rating and set a $85.00 price objective for the company in a report on Thursday, April 16th. Canaccord Genuity Group decreased their price objective on Okta from $120.00 to $95.00 and set a "buy" rating for the company in a report on Thursday, March 5th. Wall Street Zen cut shares of Okta from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Finally, HSBC upgraded shares of Okta to a "buy" rating in a research note on Thursday, April 16th. Twenty-eight research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $100.89.

Okta Company Profile

Okta, Inc is a publicly traded provider of identity and access management solutions, headquartered in San Francisco, California. Founded in 2009 by Todd McKinnon and Frederic Kerrest, the company completed its initial public offering in April 2017. Under the leadership of McKinnon as chief executive officer and Kerrest as chief operating officer, Okta has grown into a leading vendor in the cybersecurity space, focusing on secure user authentication, single sign-on and lifecycle management for digital identities.

At the core of Okta's offering is the Okta Identity Cloud, a suite of cloud-native services that enable organizations to manage user access across web and mobile applications, on-premises systems and APIs.

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