Okta (NASDAQ:OKTA) Insider Sells $11,607.80 in Stock

Okta, Inc. (NASDAQ:OKTA) insider Eric Robert Kelleher sold 127 shares of the company’s stock in a transaction dated Monday, December 22nd. The stock was sold at an average price of $91.40, for a total value of $11,607.80. Following the transaction, the insider directly owned 11,266 shares of the company’s stock, valued at approximately $1,029,712.40. This represents a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Thursday, December 18th, Eric Robert Kelleher sold 8,370 shares of Okta stock. The stock was sold at an average price of $90.19, for a total value of $754,890.30.
• On Wednesday, October 1st, Eric Robert Kelleher sold 2,410 shares of Okta stock. The stock was sold at an average price of $91.73, for a total value of $221,069.30.

Okta Stock Down 0.7%

Shares of Okta stock opened at $88.40 on Thursday. Okta, Inc. has a 52 week low of $75.05 and a 52 week high of $127.57. The firm’s 50 day moving average is $86.15 and its two-hundred day moving average is $91.40. The firm has a market capitalization of $15.67 billion, a P/E ratio of 81.10, a P/E/G ratio of 4.20 and a beta of 0.77.

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

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Berenberg Bank began coverage on Okta in a research report on Tuesday, November 18th. They set a “buy” rating and a $145.00 target price on the stock. JMP Securities restated a “market perform” rating on shares of Okta in a research note on Wednesday, August 27th. Guggenheim reiterated a “buy” rating and issued a $138.00 price objective on shares of Okta in a research note on Wednesday, December 3rd. Piper Sandler decreased their price objective on Okta from $110.00 to $95.00 and set a “neutral” rating for the company in a report on Wednesday, December 3rd. Finally, Cowen reaffirmed a “hold” rating on shares of Okta in a report on Wednesday, December 3rd. Twenty-four investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Okta has an average rating of “Moderate Buy” and an average target price of $113.62.

Institutional Investors Weigh In On Okta

Several large investors have recently modified their holdings of the stock. Norges Bank purchased a new position in Okta in the 2nd quarter valued at $211,923,000. Alkeon Capital Management LLC acquired a new stake in shares of Okta in the 1st quarter worth $199,918,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Okta by 76.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,748,847 shares of the company’s stock valued at $289,234,000 after acquiring an additional 1,189,222 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Okta by 5.7% in the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock valued at $1,815,956,000 after acquiring an additional 1,074,977 shares in the last quarter. Finally, Alyeska Investment Group L.P. increased its stake in shares of Okta by 276.9% during the third quarter. Alyeska Investment Group L.P. now owns 1,403,499 shares of the company’s stock worth $128,701,000 after acquiring an additional 1,031,083 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

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.