Okta (NASDAQ:OKTA) CFO Sells $950,000.00 in Stock

Key Points

• Brett Tighe, CFO of Okta, sold 10,000 shares of the company's stock for a total of $950,000, resulting in a 6.98% decrease in his ownership.
• Okta's stock recently rose by 0.4%, reaching $93.71, during mid-day trading.
• Despite recent fluctuations in ratings, analysts have a consensus rating of "Hold" for Okta, with an average price target of $118.94.

Okta, Inc. (NASDAQ:OKTA - Get Free Report) CFO Brett Tighe sold 10,000 shares of Okta stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $95.00, for a total transaction of $950,000.00. Following the transaction, the chief financial officer owned 133,336 shares of the company's stock, valued at $12,666,920. This represents a 6.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Brett Tighe also recently made the following trade(s):

• On Friday, July 18th, Brett Tighe sold 10,000 shares of Okta stock. The shares were sold at an average price of $95.00, for a total value of $950,000.00.

Okta Stock Up 0.4%

OKTA stock traded up $0.41 during mid-day trading on Monday, reaching $93.71. 3,403,974 shares of the company traded hands, compared to its average volume of 3,631,632. The stock has a market cap of $16.41 billion, a price-to-earnings ratio of 110.25, a P/E/G ratio of 4.58 and a beta of 0.84. Okta, Inc. has a fifty-two week low of $70.92 and a fifty-two week high of $127.57. The firm's 50 day moving average price is $92.49 and its 200 day moving average price is $100.47.

Okta (NASDAQ:OKTA - Get Free Report) last announced its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.07. The company had revenue of $728,000 billion for the quarter, compared to analysts' expectations of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.Okta's quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous 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, analysts anticipate that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Zacks Research downgraded Okta from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 28th. Canaccord Genuity Group upgraded Okta from a "hold" rating to a "buy" rating and upped their price objective for the company from $115.00 to $120.00 in a research note on Tuesday, August 26th. Barclays upped their price objective on Okta from $100.00 to $115.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 27th. Robert W. Baird cut their price target on shares of Okta from $142.00 to $135.00 and set an "outperform" rating on the stock in a report on Monday, September 29th. Finally, Westpark Capital reissued a "buy" rating and issued a $140.00 price target on shares of Okta in a report on Wednesday, August 27th. Twenty-two research analysts have rated the stock with a Buy rating, fourteen have given 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 price target of $118.94.

Institutional Trading of Okta

Several institutional investors and hedge funds have recently bought and sold shares of OKTA. TD Private Client Wealth LLC raised its position 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 buying an additional 92 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Okta by 5.7% in the 1st quarter. Allworth Financial LP now owns 1,708 shares of the company's stock valued at $173,000 after acquiring an additional 92 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Okta by 12.6% in the 1st quarter. Smartleaf Asset Management LLC now owns 824 shares of the company's stock valued at $89,000 after acquiring an additional 92 shares in the last quarter. GPS Wealth Strategies Group LLC raised its holdings in shares of Okta by 7.2% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 1,484 shares of the company's stock valued at $156,000 after acquiring an additional 100 shares in the last quarter. Finally, First Horizon Advisors Inc. raised 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 purchasing an additional 108 shares in the last quarter. 86.64% of the stock is currently owned by hedge funds and other 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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