Okta (NASDAQ:OKTA) CEO Todd Mckinnon Sells 48,822 Shares of Company Stock

Okta, Inc. (NASDAQ:OKTA) CEO Todd McKinnon sold 48,822 shares of Okta stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $193.48, for a total value of $9,446,080.56. Following the completion of the transaction, the chief executive officer owned 44,029 shares of the company’s stock, valued at approximately $8,518,730.92. This represents a 52.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Todd Mckinnon also recently made the following trade(s):

• On Wednesday, July 8th, Todd McKinnon sold 68,936 shares of Okta stock. The shares were sold at an average price of $146.62, for a total value of $10,107,396.32.

Okta Price Performance

NASDAQ:OKTA opened at $206.64 on Friday. The firm has a market capitalization of $36.12 billion, a price-to-earnings ratio of 124.48, a PEG ratio of 6.12 and a beta of 0.79. The business has a 50 day simple moving average of $157.70 and a 200-day simple moving average of $119.26. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $212.50.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.09. Okta had a return on equity of 4.50% and a net margin of 9.63%.The company had revenue of $805.00 million for the quarter, compared to analyst estimates of $793.00 million. During the same quarter in the prior year, the firm posted $0.91 EPS. Okta’s quarterly revenue was up 10.6% compared to the same quarter last year. 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, analysts expect 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: AI-agent products are driving optimism. At Oktane 2026, Okta highlighted Agent SSO, runtime enforcement, an AI-agent runtime gateway, lifecycle-management tools and an “AI kill switch.” The offerings are intended to govern authentication, access and security for enterprise AI agents, potentially opening a new growth market beyond traditional per-seat identity software. BofA raises Okta price target on AI-agent positioning
• Positive Sentiment: Analysts broadly raised targets. Bank of America lifted its target to $220, while BTIG reaffirmed Buy at $219. Wells Fargo, RBC, DA Davidson and Guggenheim raised targets to $230, $230, $235 and $227, respectively. The revisions reflect expectations for stronger AI-identity adoption and a potential reacceleration in growth. D.A. Davidson raises Okta price target
• Neutral Sentiment: Short-interest data offers little directional signal. Reported short interest was zero shares, implying no measurable days-to-cover; investors should treat the figure cautiously because it does not establish improving fundamentals.
• Negative Sentiment: Valuation and execution risks remain. After a sharp multi-year rally, Okta trades at a premium earnings multiple, leaving the stock vulnerable if AI monetization or growth reacceleration disappoints. Mizuho remains Neutral pending proof that stronger growth can persist, while Jefferies cited customer confusion as an adoption hurdle.
• Negative Sentiment: Insider selling may weigh on sentiment. CEO Todd McKinnon sold 48,822 shares worth approximately $9.45 million, reducing his direct holdings by about 53%. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, which limits its significance, but it still represents a potential overhang. SEC filing for Todd McKinnon stock sale

Hedge Funds Weigh In On Okta

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Washington Trust Advisors Inc. raised its holdings in Okta by 64.2% during the second quarter. Washington Trust Advisors Inc. now owns 197 shares of the company’s stock worth $27,000 after purchasing an additional 77 shares in the last quarter. CX Institutional raised its stake in Okta by 5.1% during the 2nd quarter. CX Institutional now owns 2,633 shares of the company’s stock worth $359,000 after acquiring an additional 127 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Okta by 10.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,333 shares of the company’s stock valued at $105,000 after acquiring an additional 129 shares during the last quarter. SteelPeak Wealth LLC lifted its position in Okta by 2.8% in the first quarter. SteelPeak Wealth LLC now owns 5,166 shares of the company’s stock valued at $407,000 after acquiring an additional 140 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in Okta by 1.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 9,241 shares of the company’s stock valued at $1,261,000 after acquiring an additional 167 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on OKTA shares. Susquehanna boosted their target price on Okta from $110.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, August 28th. BMO Capital Markets increased their target price on Okta from $168.00 to $187.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. HC Wainwright began coverage on Okta in a research report on Monday, July 6th. They set a “buy” rating for the company. Guggenheim upped their price target on shares of Okta from $188.00 to $227.00 and gave the stock a “buy” rating in a report on Thursday. Finally, TD Cowen raised their price target on shares of Okta from $175.00 to $200.00 and gave the stock a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $192.69.

Okta Company Profile

Okta, Inc provides cloud-based identity and access management solutions for organizations. Its platform helps businesses securely connect employees, customers, partners and applications while managing authentication, authorization and user access across cloud, on-premises and mobile environments.

The company’s offerings include single sign-on, multifactor authentication, adaptive access controls, lifecycle management, identity governance and privileged access capabilities. Through its Customer Identity Cloud, powered by Auth0, Okta also provides tools for developers and businesses to embed authentication and authorization features into applications and digital services.

Founded in 2009 by Todd McKinnon and Frederic Kerrest, Okta completed its initial public offering in 2017.