Insider Selling: Okta (NASDAQ:OKTA) Insider Sells 3,348 Shares of Stock

Key Points

• Larissa Schwartz, an insider at Okta, sold 3,348 shares at an average price of $90.17, totaling approximately $301,889, resulting in a 7.88% decrease in her holdings.
• Okta reported a 12.7% year-over-year increase in revenue and earnings per share of $0.91 for the last quarter, surpassing analyst expectations.
• Despite recent insider sales, Okta has been positively rated by multiple analysts, with a consensus rating of "Moderate Buy" and an average price target of $118.25.

Okta, Inc. (NASDAQ:OKTA - Get Free Report) insider Larissa Schwartz sold 3,348 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $90.17, for a total transaction of $301,889.16. Following the sale, the insider directly owned 39,155 shares in the company, valued at approximately $3,530,606.35. This represents a 7.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Okta Stock Up 0.7%

Shares of OKTA traded up $0.68 during midday trading on Monday, reaching $94.05. 577,059 shares of the stock were exchanged, compared to its average volume of 3,674,578. The company has a market cap of $16.46 billion, a P/E ratio of 110.64, a PEG ratio of 4.57 and a beta of 0.83. The stock's 50 day simple moving average is $93.00 and its 200 day simple moving average is $101.77. Okta, Inc. has a twelve month low of $70.92 and a twelve 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 EPS 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 business had revenue of $728,000 billion for the quarter, compared to analysts' expectations of $711.84 million. During the same period in the prior year, the business posted $0.72 earnings per share. The firm's 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. As a group, analysts predict that Okta, Inc. will post 0.42 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on OKTA shares. The Goldman Sachs Group boosted their target price on Okta from $123.00 to $137.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. DA Davidson reduced their price objective on Okta from $145.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Stifel Nicolaus upped their price objective on Okta from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. UBS Group reduced their price target on Okta from $150.00 to $130.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Finally, Wells Fargo & Company upped their price target on Okta from $100.00 to $110.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 28th. Twenty-two investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Okta has a consensus rating of "Moderate Buy" and a consensus price target of $118.25.

Hedge Funds Weigh In On Okta

Institutional investors and hedge funds have recently modified their holdings of the stock. Rafferty Asset Management LLC grew its position in shares of Okta by 8.8% in the fourth quarter. Rafferty Asset Management LLC now owns 16,333 shares of the company's stock valued at $1,287,000 after purchasing an additional 1,317 shares in the last quarter. Royal Bank of Canada boosted its position in Okta by 10.4% during the 4th quarter. Royal Bank of Canada now owns 618,704 shares of the company's stock worth $48,754,000 after purchasing an additional 58,379 shares during the period. Two Sigma Advisers LP bought a new position in shares of Okta during the fourth quarter worth about $985,000. Woodline Partners LP acquired a new stake in shares of Okta in the fourth quarter valued at approximately $2,199,000. Finally, PharVision Advisers LLC bought a new stake in Okta during the fourth quarter worth approximately $299,000. Institutional investors and hedge funds own 86.64% of the company's stock.

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.