Okta (NASDAQ:OKTA) Director Sells $212,500.00 in Stock

Key Points

• Okta director Shellye Archambeau sold 2,500 shares on May 18 at an average price of $85.00, totaling $212,500. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Okta shares were trading higher, rising 3.9% to $89.04 on the day, while the company’s market cap stood at about $15.75 billion. The stock remains well below its 52-week high of $127.52 but above its 52-week low of $62.66.
• Analysts and recent earnings data remain supportive overall: Okta beat its latest quarterly EPS and revenue estimates, and Wall Street’s consensus rating is still Moderate Buy with a target price around $101.19, though some firms have warned that near-term guidance could be softer.

Okta, Inc. (NASDAQ:OKTA - Get Free Report) Director Shellye Archambeau sold 2,500 shares of the company's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $85.00, for a total value of $212,500.00. Following the completion of the transaction, the director directly owned 9,192 shares of the company's stock, valued at approximately $781,320. The trade was a 21.38% decrease in their position. The sale was disclosed in a filing 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.

Okta Trading Up 3.9%

OKTA traded up $3.34 on Wednesday, reaching $89.04. The stock had a trading volume of 2,967,739 shares, compared to its average volume of 3,380,695. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $127.52. The firm has a 50-day moving average of $77.27 and a 200-day moving average of $82.51. The company has a market capitalization of $15.75 billion, a price-to-earnings ratio of 67.97, a price-to-earnings-growth ratio of 3.39 and a beta of 0.59.

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.05. The company had revenue of $761.00 million during the quarter, compared to analysts' expectations 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 in the prior year, the firm posted $0.78 earnings per share. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. Sell-side analysts anticipate that Okta, Inc. will post 1.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Okta

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Okta by 5.7% during the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company's stock worth $1,815,956,000 after purchasing an additional 1,074,977 shares during the period. First Trust Advisors LP lifted its holdings in shares of Okta by 28.2% in the fourth quarter. First Trust Advisors LP now owns 6,030,090 shares of the company's stock valued at $521,422,000 after purchasing an additional 1,326,051 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Okta by 71.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company's stock valued at $281,209,000 after purchasing an additional 1,485,963 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Okta by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company's stock valued at $281,246,000 after purchasing an additional 57,605 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Okta by 2.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,389 shares of the company's stock valued at $215,776,000 after purchasing an additional 69,653 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta is expected to beat its fiscal first-quarter bookings and contracted revenue growth target when it reports on May 28, and Jefferies reiterated a Buy rating with a $105 price target, citing attractive valuation after the stock’s recent rally. Okta set to beat Q1 bookings target but Q2 outlook may disappoint, Jefferies says
• Positive Sentiment: Investor confidence in software names improved as markets softened fears that AI will quickly disrupt traditional software companies, which helped Okta trade higher along with peers. Manhattan Associates, Okta, Commerce, and SentinelOne Stocks Trade Up, What You Need To Know
• Positive Sentiment: Oppenheimer said Okta may deliver modest upside to its fiscal Q1 revenue estimate, reinforcing expectations for a solid quarter. Okta Likely to Deliver Modest Fiscal Q1 Revenue Upside, Oppenheimer Says
• Neutral Sentiment: TD Cowen kept a Hold rating on Okta, which suggests some caution but no major change in outlook. TD Cowen Keeps Their Hold Rating on Okta (OKTA)
• Neutral Sentiment: Okta had recently fallen in the prior session, but the move appeared tied to broader market volatility rather than a company-specific negative development. Here's Why Okta (OKTA) Fell More Than Broader Market
• Negative Sentiment: Jefferies warned that Okta’s Q2 guidance may fall short of Wall Street expectations, which could pressure the stock after earnings if management sounds conservative. Okta set to beat Q1 bookings target but Q2 outlook may disappoint, Jefferies says

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on OKTA shares. Deutsche Bank Aktiengesellschaft decreased their price target on Okta from $85.00 to $80.00 and set a "hold" rating for the company in a research note on Thursday, March 5th. Needham & Company LLC decreased their price target on Okta from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Thursday, March 5th. DA Davidson reissued a "buy" rating and issued a $110.00 price target on shares of Okta in a research note on Thursday, March 5th. HSBC raised Okta to a "buy" rating in a research note on Thursday, April 16th. Finally, Berenberg Bank decreased their price target on Okta from $145.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, March 5th. Twenty-nine investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $101.19.

About Okta

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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