Okta (NASDAQ:OKTA) Insider Sells $789,307.64 in Stock

Key Points

• Okta insider Eric Robert Kelleher sold 8,522 shares of the company's stock for a total of $789,307.64, reducing his ownership stake by 48.16%.
• The company reported a 12.7% increase in revenue year-over-year for the last quarter, with earnings per share surpassing analyst estimates.
• Okta has a current market capitalization of $16.17 billion and a consensus rating of "Moderate Buy" among analysts, with an average target price of $118.25.

Okta, Inc. (NASDAQ:OKTA - Get Free Report) insider Eric Robert Kelleher sold 8,522 shares of Okta stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $92.62, for a total transaction of $789,307.64. Following the sale, the insider owned 9,174 shares in the company, valued at approximately $849,695.88. This represents a 48.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Eric Robert Kelleher also recently made the following trade(s):

• On Tuesday, July 15th, Eric Robert Kelleher sold 16,018 shares of Okta stock. The stock was sold at an average price of $91.81, for a total transaction of $1,470,612.58.

Okta Trading Down 1.1%

NASDAQ:OKTA traded down $0.99 during mid-day trading on Monday, hitting $92.38. 2,518,523 shares of the company's stock were exchanged, compared to its average volume of 3,686,110. The company has a 50 day simple moving average of $93.00 and a 200-day simple moving average of $101.77. Okta, Inc. has a fifty-two week low of $70.92 and a fifty-two week high of $127.57. The firm has a market capitalization of $16.17 billion, a P/E ratio of 108.68, a PEG ratio of 4.57 and a beta of 0.83.

Okta (NASDAQ:OKTA - Get Free Report) last posted its earnings results on Tuesday, August 26th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.84 by $0.07. The business had revenue of $728,000 billion for the quarter, compared to the consensus estimate of $711.84 million. Okta had a net margin of 6.08% and a return on equity of 3.31%. The firm's revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company earned $0.72 EPS. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. As a group, analysts expect that Okta, Inc. will post 0.42 earnings per share for the current year.

Institutional Trading of Okta

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wolff Wiese Magana LLC increased its stake in Okta by 167.4% during the 1st quarter. Wolff Wiese Magana LLC now owns 246 shares of the company's stock valued at $26,000 after purchasing an additional 154 shares in the last quarter. Pinnacle Bancorp Inc. bought a new stake in shares of Okta in the 2nd quarter worth $26,000. Wayfinding Financial LLC bought a new stake in shares of Okta in the 1st quarter worth $27,000. Harbour Investments Inc. grew its stake in shares of Okta by 152.4% in the 1st quarter. Harbour Investments Inc. now owns 260 shares of the company's stock worth $27,000 after acquiring an additional 157 shares in the last quarter. Finally, Promus Capital LLC bought a new stake in shares of Okta in the 2nd quarter worth $27,000. Institutional investors own 86.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on OKTA shares. Arete started coverage on shares of Okta in a research report on Monday, July 7th. They issued a "sell" rating and a $83.00 price target on the stock. Guggenheim restated a "buy" rating and issued a $138.00 price target on shares of Okta in a research report on Wednesday, August 27th. Citigroup reiterated a "market perform" rating on shares of Okta in a research note on Wednesday, August 27th. Barclays lifted their price objective on shares of Okta from $100.00 to $115.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 27th. Finally, Truist Financial upgraded shares of Okta from a "hold" rating to a "buy" rating and lifted their price objective for the company from $100.00 to $125.00 in a research note on Monday, August 25th. Twenty-two equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Okta has a consensus rating of "Moderate Buy" and an average target price of $118.25.

About Okta

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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