Okta (NASDAQ:OKTA) Insider Sells $410,190.38 in Stock

Key Points

• Okta insider Larissa Schwartz sold 5,323 shares on May 6 at an average price of $77.06, totaling about $410,190. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• Following the transaction, Schwartz still owned 49,502 Okta shares worth about $3.81 million, representing a 9.71% decrease in her position. She also made additional Okta sales in April and on May 7.
• Okta shares recently traded up to $83.90, and the company reported quarterly EPS of $0.90, beating estimates. Analysts currently have a Moderate Buy consensus with an average price target of $100.89.

Okta, Inc. (NASDAQ:OKTA - Get Free Report) insider Larissa Schwartz sold 5,323 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $77.06, for a total transaction of $410,190.38. Following the completion of the sale, the insider directly owned 49,502 shares of the company's stock, valued at $3,814,624.12. The trade was a 9.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 transaction of $84,320.00.
• 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 transaction of $508,565.75.
• On Tuesday, March 10th, Larissa Schwartz sold 1,836 shares of Okta stock. The stock was sold at an average price of $79.89, for a total transaction of $146,678.04.

Okta Stock Performance

Shares of OKTA stock traded up $3.02 during trading hours on Friday, reaching $83.90. The company had a trading volume of 3,745,162 shares, compared to its average volume of 3,437,282. Okta, Inc. has a twelve month low of $62.66 and a twelve month high of $127.57. The company has a market capitalization of $14.84 billion, a P/E ratio of 64.05, a price-to-earnings-growth ratio of 3.02 and a beta of 0.59. The stock's fifty day simple moving average is $76.07 and its 200 day simple moving average is $82.86.

Okta (NASDAQ:OKTA - Get Free Report) last posted its earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.05. Okta had a return on equity of 4.18% and a net margin of 8.05%.The business had revenue of $761.00 million during the quarter, compared to analyst estimates of $749.87 million. During the same quarter last year, the firm earned $0.78 earnings per share. The company's revenue for the quarter was up 11.6% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. As a group, equities analysts expect that Okta, Inc. will post 1.61 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on OKTA. Wolfe Research began coverage on shares of Okta in a report on Thursday, April 16th. They set an "outperform" rating for the company. Berenberg Bank lowered their price target on shares of Okta from $145.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, March 5th. KeyCorp lowered their price objective on Okta from $100.00 to $95.00 and set an "overweight" rating for the company in a research note on Wednesday, April 15th. Stephens lowered their price objective on Okta from $120.00 to $95.00 and set an "overweight" rating for the company in a research note on Thursday, March 5th. Finally, Scotiabank lowered their price objective on Okta from $85.00 to $80.00 and set a "sector perform" rating for the company in a research note on Thursday, March 5th. Twenty-eight research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Okta presently has a consensus rating of "Moderate Buy" and an average price target of $100.89.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Root Financial Partners LLC acquired a new position in Okta during the 3rd quarter worth $26,000. Elevation Wealth Partners LLC grew its holdings in Okta by 825.0% during the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company's stock worth $26,000 after acquiring an additional 264 shares in the last quarter. SHP Wealth Management acquired a new position in shares of Okta in the 4th quarter worth approximately $27,000. Torren Management LLC acquired a new position in shares of Okta in the 4th quarter worth approximately $32,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Okta in the 3rd quarter worth approximately $34,000. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Company Profile

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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