Okta (NASDAQ:OKTA) Insider Sells 2,463 Shares

Key Points

• Okta insider Larissa Schwartz sold 2,463 shares on June 22 at an average price of $120, totaling about $295,560. The sale, made under a pre-arranged Rule 10b5-1 plan, reduced her direct ownership by 8.89%.
• Okta shares rose 0.4% to $118.58, and the stock has traded between a 52-week low of $62.66 and a high of $142.35. The company now has a market cap of about $20.61 billion.
• Recent earnings beat expectations, with Okta reporting EPS of $0.91 versus $0.85 expected and revenue of $765 million, up 11.2% year over year. Analysts remain broadly positive, with a consensus Moderate Buy rating and a target price of $114.71.

Okta, Inc. (NASDAQ:OKTA - Get Free Report) insider Larissa Schwartz sold 2,463 shares of the firm's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $120.00, for a total value of $295,560.00. Following the completion of the sale, the insider directly owned 25,241 shares in the company, valued at approximately $3,028,920. This represents a 8.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, June 2nd, Larissa Schwartz sold 24,971 shares of Okta stock. The stock was sold at an average price of $134.13, for a total value of $3,349,360.23.
• On Thursday, May 7th, Larissa Schwartz sold 1,054 shares of Okta stock. The stock was sold at an average price of $80.00, for a total value of $84,320.00.
• 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 value of $410,190.38.
• On Tuesday, April 7th, Larissa Schwartz sold 6,377 shares of Okta stock. The stock was sold at an average price of $79.75, for a total value of $508,565.75.

Okta Stock Up 0.4%

Shares of OKTA stock traded up $0.42 during trading hours on Wednesday, reaching $118.58. 2,703,923 shares of the company's stock were exchanged, compared to its average volume of 3,687,460. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $142.35. The stock has a market capitalization of $20.61 billion, a P/E ratio of 85.93, a P/E/G ratio of 4.20 and a beta of 0.80. The business has a fifty day moving average price of $94.64 and a 200-day moving average price of $87.58.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.15%. The business had revenue of $765.00 million for the quarter, compared to the consensus estimate of $751.84 million. During the same quarter last year, the company posted $0.86 earnings per share. Okta's quarterly revenue was up 11.2% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. As a group, research analysts expect that Okta, Inc. will post 1.74 EPS for the current fiscal year.

Hedge Funds Weigh In On Okta

A number of hedge funds have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. increased its holdings in shares of Okta by 52.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 465,370 shares of the company's stock worth $40,241,000 after buying an additional 161,069 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of Okta in the fourth quarter valued at approximately $3,122,000. Elo Mutual Pension Insurance Co boosted its holdings in shares of Okta by 40.1% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 52,597 shares of the company's stock worth $4,823,000 after acquiring an additional 15,058 shares in the last quarter. Swedbank AB boosted its holdings in shares of Okta by 124.3% in the 4th quarter. Swedbank AB now owns 1,819,081 shares of the company's stock worth $157,296,000 after acquiring an additional 1,007,915 shares in the last quarter. Finally, Congress Asset Management Co. grew its position in Okta by 23.0% during the 4th quarter. Congress Asset Management Co. now owns 98,063 shares of the company's stock worth $8,480,000 after acquiring an additional 18,325 shares during the last quarter. 86.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. DA Davidson lifted their target price on Okta from $110.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. BTIG Research raised their price objective on Okta from $105.00 to $119.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. Wall Street Zen lowered Okta from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Wolfe Research assumed coverage on Okta in a research report on Thursday, April 16th. They set an "outperform" rating on the stock. Finally, Canaccord Genuity Group raised their target price on Okta from $95.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $114.71.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Needham raised its price target on Okta to $140 from $120 and kept a Buy rating, reinforcing bullish expectations for the company’s growth and implying meaningful upside from current levels.
• Positive Sentiment: Okta expanded its Cross App Access ecosystem to secure AI agent connections, adding partners such as Anthropic, Canva, and Atlassian. That supports the view that Okta is becoming a bigger player in AI-era identity and access security. Only 13% of Australian firms can stop a rogue AI agent: Okta expands Cross App Access with Anthropic, Canva and Atlassian aboard
• Positive Sentiment: Okta stockholders approved changes to the company’s equity plan and governance slate at the annual meeting, which removes a governance overhang and suggests shareholder backing. Okta Stockholders Approve Equity Plan Changes, Governance Slate
• Neutral Sentiment: Analyst coverage remains generally constructive, with Wells Fargo reiterating a Hold and broader Street sentiment still around Moderate Buy. That supports sentiment, but it is not a major new catalyst. Wells Fargo Sticks to Their Hold Rating for Okta (OKTA)
• Neutral Sentiment: Okta remains a trending stock on investor watchlists, which can keep trading interest elevated, though it does not change the company’s fundamentals by itself. Here is What to Know Beyond Why Okta, Inc. (OKTA) is a Trending Stock
• Negative Sentiment: Insider Eric Robert Kelleher sold 3,977 shares in a pre-arranged Rule 10b5-1 transaction. While routine, insider selling can still make some investors cautious. Eric Robert Kelleher insider sale details

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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