Okta (NASDAQ:OKTA) Stock Sold Off by Rep. Maria Elvira Salazar

Representative Maria Elvira Salazar (Republican-Florida) recently sold shares of Okta, Inc. (NASDAQ:OKTA). In a filing disclosed on October 7th, the Representative disclosed that they had sold between $1,001 and $15,000 in Okta stock on September 24th. The trade occurred in the Representative’s “UBS IRA ACCOUNT” account.

Representative Maria Elvira Salazar also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Citigroup (NYSE:C) on 9/24/2026.
• Sold $1,001 – $15,000 in shares of Chubb (NYSE:CB) on 9/24/2026.
• Sold $1,001 – $15,000 in shares of Microsoft (NASDAQ:MSFT) on 9/24/2026.
• Sold $1,001 – $15,000 in shares of GE Aerospace (NYSE:GE) on 9/24/2026.
• Sold $1,001 – $15,000 in shares of Honeywell International (NASDAQ:HON) on 9/24/2026.
• Sold $1,001 – $15,000 in shares of Snowflake (NYSE:SNOW) on 9/24/2026.
• Sold $1,001 – $15,000 in shares of FedEx (NYSE:FDX) on 9/24/2026.
• Sold $1,001 – $15,000 in shares of Salesforce (NYSE:CRM) on 9/24/2026.
• Sold $1,001 – $15,000 in shares of RH (NYSE:RH) on 9/24/2026.
• Sold $1,001 – $15,000 in shares of Meta Platforms (NASDAQ:META) on 9/24/2026.

Okta Stock Up 5.4%

OKTA stock opened at $232.13 on Friday. Okta, Inc. has a twelve month low of $62.66 and a twelve month high of $232.98. The company has a market cap of $40.58 billion, a P/E ratio of 139.84, a PEG ratio of 6.85 and a beta of 0.73. The business has a fifty day moving average of $173.68 and a 200-day moving average of $129.27.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. Okta had a return on equity of 4.50% and a net margin of 9.63%. The firm had revenue of $805.00 million during the quarter, compared to analyst estimates of $793.00 million. During the same period last year, the company earned $0.91 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. As a group, equities research analysts anticipate that Okta, Inc. will post 1.92 earnings per share for the current fiscal year.

More Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta’s latest quarterly results showed approximately 11% revenue growth, 17% growth in remaining performance obligations and 14% growth in current remaining performance obligations. Management also raised full-year free-cash-flow guidance to $910 million–$930 million, supporting the view that growth is translating into stronger cash generation. Okta second-quarter fiscal 2027 results
• Positive Sentiment: Investors are viewing Okta as a potential beneficiary of enterprise AI adoption. The company is positioning identity, governance and runtime controls as essential for securing AI agents, while its Blueprint Alliance with technology and cybersecurity partners strengthens that strategic narrative. Blueprint Alliance announcement
• Positive Sentiment: Okta’s push for phishing-resistant authentication, including its partnership with Yubico, gives the company additional exposure to growing concerns about AI-enhanced phishing attacks and passwordless security. Okta phishing-resistant authentication coverage
• Neutral Sentiment: Amerx initiated coverage with a Hold rating, while recent institutional activity was mixed: several large investors added shares, but UBS and Norges Bank reduced positions. Amerx Okta coverage
• Negative Sentiment: Valuation and insider activity remain risks. OKTA has gained sharply year to date, while the reported median analyst price target of $120 is well below the recent trading level. Insiders have made substantially more sales than purchases over the past six months, including selling by CEO Todd McKinnon and CFO Brett Tighe.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OKTA. Wedmont Private Capital acquired a new position in Okta in the third quarter valued at about $260,000. Mn Services Vermogensbeheer B.V. increased its stake in Okta by 5.4% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 50,845 shares of the company’s stock worth $10,632,000 after purchasing an additional 2,600 shares in the last quarter. GAMMA Investing LLC raised its holdings in Okta by 15.5% during the 3rd quarter. GAMMA Investing LLC now owns 4,547 shares of the company’s stock worth $951,000 after buying an additional 611 shares during the period. Farther Finance Advisors LLC raised its holdings in Okta by 5.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,344 shares of the company’s stock worth $699,000 after buying an additional 175 shares during the period. Finally, CoreCap Advisors LLC lifted its stake in Okta by 4,458.5% in the third quarter. CoreCap Advisors LLC now owns 2,416 shares of the company’s stock valued at $505,000 after buying an additional 2,363 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Insider Transactions at Okta

In other news, insider Eric Kelleher sold 6,395 shares of the company’s stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $183.58, for a total transaction of $1,173,994.10. Following the completion of the transaction, the insider directly owned 18,668 shares of the company’s stock, valued at $3,427,071.44. This represents a 25.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 41,251 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $162.44, for a total value of $6,700,812.44. Following the transaction, the chief financial officer owned 7,693 shares of the company’s stock, valued at approximately $1,249,650.92. The trade was a 84.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 137,766 shares of company stock valued at $23,927,112 over the last quarter. Corporate insiders own 4.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on OKTA shares. Scotiabank reaffirmed an “outperform” rating on shares of Okta in a research note on Monday, September 28th. Weiss Ratings lowered Okta from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Guggenheim upped their price objective on Okta from $188.00 to $227.00 and gave the company a “buy” rating in a report on Thursday, September 24th. Capital One Financial set a $171.00 target price on Okta and gave the company an “overweight” rating in a research note on Thursday, July 16th. Finally, Susquehanna raised their target price on Okta from $110.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $201.10.

About Representative Salazar

Maria Elvira Salazar (Republican Party) is a member of the U.S. House, representing Florida’s 27th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2027.

Salazar (Republican Party) ran for re-election to the U.S. House to represent Florida’s 27th Congressional District. She won in the general election on November 5, 2024.

Maria Elvira Salazar was born in Miami, Florida, and lives in Coral Gables, Florida. Salazar earned an undergraduate degree from the University of Miami in 1983 and a graduate degree from Harvard University in 1995. Her career experience includes working as a television journalist, reporter, and news anchor.

About Okta

Okta, Inc is an identity and access management company that helps organizations secure and manage access to applications, systems, devices and digital services. Its platform is designed to support employees, contractors, partners, customers and other users across cloud-based and on-premises environments.

Okta’s products include single sign-on, multifactor authentication, lifecycle management, identity governance, privileged access and identity threat protection. Through its Workforce Identity Cloud and Customer Identity Cloud, the company provides tools for workforce access management and for integrating authentication and authorization capabilities into customer-facing applications.