Okta (NASDAQ:OKTA) Insider Sells $153,250.92 in Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 1,836 shares of Okta stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $83.47, for a total value of $153,250.92. Following the sale, the insider directly owned 36,328 shares in the company, valued at approximately $3,032,298.16. This trade represents a 4.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, January 7th, Larissa Schwartz sold 1,899 shares of Okta stock. The stock was sold at an average price of $90.74, for a total value of $172,315.26.
• On Friday, December 5th, Larissa Schwartz sold 1,318 shares of Okta stock. The shares were sold at an average price of $85.71, for a total value of $112,965.78.

Okta Stock Performance

Shares of OKTA stock opened at $84.91 on Friday. Okta, Inc. has a 1 year low of $75.05 and a 1 year high of $127.57. The stock has a fifty day moving average of $88.84 and a two-hundred day moving average of $89.26. The firm has a market capitalization of $15.05 billion, a PE ratio of 77.90, a price-to-earnings-growth ratio of 3.51 and a beta of 0.77.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. The company had revenue of $742.00 million for the quarter, compared to analyst estimates of $730.23 million. Okta had a return on equity of 3.77% and a net margin of 6.87%.The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $0.67 earnings per share. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. Equities research analysts predict that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Okta announced that its Board of Directors has authorized a share repurchase program on Monday, January 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have issued reports on OKTA. BTIG Research decreased their price target on Okta from $142.00 to $116.00 and set a “buy” rating for the company in a research note on Wednesday, December 3rd. BMO Capital Markets lowered their target price on Okta from $112.00 to $90.00 and set a “market perform” rating on the stock in a report on Wednesday, December 3rd. KeyCorp reiterated an “overweight” rating and issued a $140.00 price target on shares of Okta in a research report on Monday, December 1st. Susquehanna reduced their price objective on shares of Okta from $105.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, December 3rd. Finally, The Goldman Sachs Group dropped their target price on shares of Okta from $137.00 to $117.00 and set a “buy” rating on the stock in a report on Wednesday, December 3rd. Twenty-five research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $113.88.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Promus Capital LLC purchased a new stake in shares of Okta in the 2nd quarter valued at approximately $27,000. Root Financial Partners LLC acquired a new stake in Okta during the 3rd quarter valued at $26,000. Elevation Wealth Partners LLC lifted its holdings in shares of Okta by 825.0% in the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after purchasing an additional 264 shares in the last quarter. Cullen Frost Bankers Inc. boosted its position in shares of Okta by 88.3% in the second quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after buying an additional 159 shares during the period. Finally, Kiker Wealth Management LLC grew its holdings in shares of Okta by 1,159.3% during the second quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock valued at $34,000 after buying an additional 313 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

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.