Larissa Schwartz Sells 1,054 Shares of Okta (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 1,054 shares of Okta stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $80.00, for a total value of $84,320.00. Following the completion of the transaction, the insider owned 48,448 shares of the company’s stock, valued at $3,875,840. The trade was a 2.13% decrease in their position. The sale was disclosed in a document filed with the SEC, 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 Wednesday, May 6th, Larissa Schwartz sold 5,323 shares of Okta stock. The shares were sold at an average price of $77.06, for a total value of $410,190.38.
• On Tuesday, April 7th, Larissa Schwartz sold 6,377 shares of Okta stock. The shares were sold at an average price of $79.75, for a total value of $508,565.75.
• On Tuesday, March 10th, Larissa Schwartz sold 1,836 shares of Okta stock. The shares were sold at an average price of $79.89, for a total value of $146,678.04.

Okta Stock Performance

Shares of OKTA opened at $83.90 on Friday. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $127.57. The stock has a 50-day simple moving average of $76.07 and a 200-day simple moving average of $82.86. The stock has a market capitalization of $14.84 billion, a PE ratio of 64.05, a PEG ratio of 3.27 and a beta of 0.59.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Wednesday, March 4th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.05. Okta had a net margin of 8.05% and a return on equity of 4.18%. The business had revenue of $761.00 million for the quarter, compared to analyst estimates of $749.87 million. During the same period last year, the business earned $0.78 EPS. The company’s revenue was up 11.6% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. Analysts predict that Okta, Inc. will post 1.61 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Jefferies Financial Group dropped their price objective on Okta from $125.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. Stifel Nicolaus dropped their price objective on Okta from $121.00 to $92.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. TD Cowen dropped their price objective on Okta from $115.00 to $105.00 and set a “hold” rating on the stock in a report on Tuesday, February 24th. Citigroup downgraded Okta from a “neutral” rating to a “negative” rating in a report on Thursday, April 16th. Finally, Scotiabank dropped their price objective on Okta from $85.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, March 5th. Twenty-eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.89.

Institutional Trading of Okta

Several institutional investors and hedge funds have recently made changes to their positions in the company. Spire Wealth Management lifted its holdings in shares of Okta by 30.8% in the 4th quarter. Spire Wealth Management now owns 505 shares of the company’s stock valued at $44,000 after purchasing an additional 119 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Okta by 6.4% in the 3rd quarter. Allworth Financial LP now owns 2,251 shares of the company’s stock valued at $206,000 after purchasing an additional 135 shares during the last quarter. Choreo LLC lifted its holdings in shares of Okta by 2.0% in the 3rd quarter. Choreo LLC now owns 7,239 shares of the company’s stock valued at $664,000 after purchasing an additional 140 shares during the last quarter. SteelPeak Wealth LLC lifted its holdings in shares of Okta by 2.8% in the 1st quarter. SteelPeak Wealth LLC now owns 5,166 shares of the company’s stock valued at $407,000 after purchasing an additional 140 shares during the last quarter. Finally, Utah Retirement Systems increased its holdings in shares of Okta by 0.6% in the 4th quarter. Utah Retirement Systems now owns 28,605 shares of the company’s stock valued at $2,473,000 after acquiring an additional 163 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Recent coverage says Okta’s AI security initiatives, including securing AI agents and non-human identities, are drawing fresh investor interest and could strengthen its competitive position. Okta (OKTA) Valuation Check As AI Agent Security Push Draws Fresh Investor Attention
• Positive Sentiment: Another article highlighted Okta’s effort to make its identity platform a key layer for enterprise AI-agent security, reinforcing the bullish AI narrative. Is Okta (OKTA) Quietly Turning AI Agent Security Into Its Core Competitive Edge?
• Positive Sentiment: Media coverage noted Okta is targeting roughly 9% FY2027 growth as AI security gains traction, which may reassure investors about the company’s longer-term revenue path. Okta targets 9% FY 2027 growth as AI security gains traction
• Neutral Sentiment: Insider Larissa Schwartz sold shares in two pre-arranged Rule 10b5-1 transactions, but the sales were disclosed as part of a planned trading program and do not necessarily signal a change in fundamentals.
• Neutral Sentiment: One article discussed Okta’s Salesforce integration and broader enterprise identity strategy, which may be viewed as strategic but does not appear to be a major near-term catalyst. Okta-Salesforce integration highlights shift in enterprise identity strategy
• Negative Sentiment: The insider stock sales may create some overhang for traders, even though they were pre-planned and relatively small compared with the insider’s remaining holdings.

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.