Okta (NASDAQ:OKTA) Insider Eric Robert Kelleher Sells 2,409 Shares

Okta, Inc. (NASDAQ:OKTA) insider Eric Robert Kelleher sold 2,409 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $80.00, for a total transaction of $192,720.00. Following the sale, the insider owned 15,470 shares of the company’s stock, valued at approximately $1,237,600. This represents a 13.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, March 19th, Eric Robert Kelleher sold 16,818 shares of Okta stock. The shares were sold at an average price of $80.00, for a total value of $1,345,440.00.

Okta Stock Performance

NASDAQ OKTA opened at $80.19 on Friday. The stock has a market cap of $14.18 billion, a P/E ratio of 61.21, a price-to-earnings-growth ratio of 3.14 and a beta of 0.76. Okta, Inc. has a fifty-two week low of $68.77 and a fifty-two week high of $127.57. The stock has a 50 day simple moving average of $80.52 and a two-hundred day simple moving average of $85.61.

Okta (NASDAQ:OKTA) last posted its earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.05. Okta had a return on equity of 4.18% and a net margin of 8.05%.The firm had revenue of $761.00 million for the quarter, compared to analysts’ expectations of $749.87 million. During the same period in the previous year, the firm earned $0.78 earnings per share. The business’s revenue 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. Sell-side analysts predict that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta declared that its Board of Directors has initiated a share buyback plan on Monday, January 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Hedge Funds Weigh In On Okta

Several large investors have recently made changes to their positions in OKTA. Integrated Wealth Concepts LLC purchased a new stake in shares of Okta in the 1st quarter worth approximately $225,000. NewEdge Advisors LLC raised its stake in Okta by 853.4% during the first quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock valued at $582,000 after buying an additional 4,950 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Okta in the second quarter worth $244,000. Prudential Financial Inc. boosted its holdings in Okta by 229.1% in the second quarter. Prudential Financial Inc. now owns 27,477 shares of the company’s stock worth $2,747,000 after acquiring an additional 19,127 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of Okta by 5.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 2,238 shares of the company’s stock worth $224,000 after acquiring an additional 113 shares during the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on OKTA shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Okta in a research report on Thursday, January 22nd. BMO Capital Markets raised Okta from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $83.00 to $97.00 in a research report on Friday, March 6th. Stifel Nicolaus decreased their target price on Okta from $121.00 to $92.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Truist Financial lowered their target price on Okta from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Finally, Citigroup dropped their price target on Okta from $100.00 to $87.00 and set a “neutral” rating on the stock in a research report on Thursday, March 5th. Twenty-six research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Okta presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.25.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta’s CEO outlined an AI-agent “kill switch” and tighter access controls, pitching Okta as a required security layer for enterprises adopting AI — a message that supports upside in identity/security demand. Okta Ties AI Agent Kill Switch To Identity Valuation Opportunity
• Positive Sentiment: TV market commentator Jim Cramer publicly said he “would be a buyer of Okta,” which can spur retail interest and support sentiment in the near term. Jim Cramer Says He “Would Be a Buyer of Okta”
• Neutral Sentiment: Analyst/market pieces note OKTA is slightly up since last earnings and discuss forward estimates — useful context but not new fundamental data. These pieces reinforce attention on guidance and execution. Okta (OKTA) Up 0.7% Since Last Earnings Report: Can It Continue?
• Neutral Sentiment: Market writeups highlighted a modest intraday gain and that OKTA is trading below its 200?day average — signals of mixed technical momentum rather than a catalyst. Okta (OKTA) Laps the Stock Market: Here’s Why
• Neutral Sentiment: Weakness in cybersecurity peers (Palo Alto Networks, CrowdStrike) has drawn headlines; this can create sector volatility that affects Okta sentiment even if Okta’s own fundamentals differ. Palo Alto Networks Plunges 12% in 3 Months
• Negative Sentiment: Insider Eric Kelleher sold 2,409 shares at about $80 under a pre?arranged Rule 10b5?1 plan; the sale reduces his holding by ~13.5%. It’s disclosed and routine, but some investors view insider selling as a short?term negative signal. Insider Sale — Eric Robert Kelleher

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.