Okta (NASDAQ:OKTA) CEO Sells $2,951,605.44 in Stock

Key Points

• Okta's CEO, Todd Mckinnon, sold 31,968 shares of the company at an average price of $92.33, totaling approximately $2.95 million.
• Okta's stock price decreased by 2.5%, trading at $89.87, with a market capitalization of $15.73 billion.
• The company recently reported $0.91 earnings per share for the last quarter, beating estimates and indicating a 12.7% revenue growth year-over-year.

Okta, Inc. (NASDAQ:OKTA - Get Free Report) CEO Todd Mckinnon sold 31,968 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $92.33, for a total value of $2,951,605.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Todd Mckinnon also recently made the following trade(s):

• On Monday, July 21st, Todd Mckinnon sold 31,592 shares of Okta stock. The shares were sold at an average price of $95.30, for a total value of $3,010,717.60.

Okta Trading Down 2.5%

Shares of Okta stock traded down $2.33 during trading hours on Wednesday, reaching $89.87. 3,187,647 shares of the company's stock were exchanged, compared to its average volume of 3,674,993. The firm has a market capitalization of $15.73 billion, a price-to-earnings ratio of 105.73, a price-to-earnings-growth ratio of 4.52 and a beta of 0.83. The company has a fifty day moving average of $93.03 and a 200-day moving average of $101.57. Okta, Inc. has a 52-week low of $70.92 and a 52-week 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 the consensus estimate of $0.84 by $0.07. The company had revenue of $728,000 billion during the quarter, compared to the consensus estimate of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.The company's revenue was up 12.7% on a year-over-year basis. During the same period last year, the firm earned $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, equities research analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

OKTA has been the topic of several research analyst reports. Stifel Nicolaus boosted their price target on shares of Okta from $120.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Bank of America reiterated an "underperform" rating and issued a $75.00 price objective on shares of Okta in a report on Wednesday, August 27th. Roth Capital reiterated a "buy" rating and issued a $119.00 price objective on shares of Okta in a report on Wednesday, May 28th. BMO Capital Markets decreased their price objective on shares of Okta from $132.00 to $112.00 and set a "market perform" rating for the company in a report on Wednesday, August 27th. Finally, Stephens reiterated an "equal weight" rating and issued a $127.00 price objective on shares of Okta in a report on Tuesday, May 27th. Twenty-two 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $118.25.

Institutional Investors Weigh In On Okta

Institutional investors have recently added to or reduced their stakes in the stock. Texas Permanent School Fund Corp bought a new stake in shares of Okta in the 2nd quarter valued at approximately $4,154,000. American Trust bought a new stake in shares of Okta in the 2nd quarter valued at approximately $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 Okta by 298.2% during the second quarter. Thrivent Financial for Lutherans now owns 50,503 shares of the company's stock worth $5,049,000 after buying an additional 37,820 shares during the last quarter. Finally, Promus Capital LLC bought a new stake in Okta during the second quarter worth about $27,000. 86.64% of the stock is owned by institutional investors and hedge funds.

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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