Okta (NASDAQ:OKTA) Director Shellye Archambeau Sells 2,500 Shares of Stock

Okta, Inc. (NASDAQ:OKTA) Director Shellye Archambeau sold 2,500 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $85.00, for a total value of $212,500.00. Following the completion of the sale, the director directly owned 9,192 shares of the company’s stock, valued at $781,320. This represents a 21.38% 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.

Okta Trading Up 3.9%

OKTA opened at $89.04 on Thursday. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $127.52. The stock has a market capitalization of $15.75 billion, a price-to-earnings ratio of 67.97, a P/E/G ratio of 3.34 and a beta of 0.59. The business has a 50 day moving average of $77.45 and a 200-day moving average of $82.52.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Wednesday, March 4th. The company reported $0.90 earnings per share 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 company had revenue of $761.00 million during the quarter, compared to analysts’ expectations of $749.87 million. During the same period in the prior year, the business earned $0.78 earnings per share. Okta’s revenue for the quarter 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. Equities analysts predict that Okta, Inc. will post 1.61 EPS for the current year.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta gained traction after broader software names rebounded, as investors became less concerned that AI will be an “existential” threat to traditional software companies. US software stocks rebound, seeking to loosen AI’s grip
• Positive Sentiment: Jefferies said Okta is likely to beat its first-quarter bookings target and kept a Buy rating with a $105 price target, arguing the stock still looks compelling on valuation. Okta set to beat Q1 bookings target but Q2 outlook may disappoint, Jefferies says
• Positive Sentiment: Oppenheimer also said Okta could deliver modest upside to fiscal Q1 revenue estimates, adding to expectations for a solid upcoming report. Okta Likely to Deliver Modest Fiscal Q1 Revenue Upside, Oppenheimer Says
• Neutral Sentiment: TD Cowen reiterated a Hold rating on Okta, which signals a more cautious stance but does not materially change the bullish narrative. TD Cowen Keeps Their Hold Rating on Okta (OKTA)
• Negative Sentiment: Company director Shellye L. Archambeau sold 2,500 shares in a pre-arranged Rule 10b5-1 transaction, which may be viewed as a modest insider selling signal. SEC filing

Analysts Set New Price Targets

OKTA has been the subject of several research reports. UBS Group set a $85.00 price objective on Okta in a research report on Thursday, April 16th. Truist Financial reduced their price objective on Okta from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Deutsche Bank Aktiengesellschaft reduced their price objective on Okta from $85.00 to $80.00 and set a “hold” rating for the company in a research report on Thursday, March 5th. Mizuho reduced their target price on Okta from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Finally, Wall Street Zen cut Okta from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Twenty-nine analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $101.19.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake 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 buying an additional 1,074,977 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in Okta by 52.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 465,370 shares of the company’s stock worth $40,241,000 after purchasing an additional 161,069 shares during the period. Elo Mutual Pension Insurance Co increased its position in Okta by 40.1% in the third quarter. Elo Mutual Pension Insurance Co now owns 52,597 shares of the company’s stock worth $4,823,000 after purchasing an additional 15,058 shares during the period. Congress Asset Management Co. increased its position in Okta by 23.0% in the fourth quarter. Congress Asset Management Co. now owns 98,063 shares of the company’s stock worth $8,480,000 after purchasing an additional 18,325 shares during the period. Finally, Federated Hermes Inc. increased its position in Okta by 18.7% in the third quarter. Federated Hermes Inc. now owns 269,505 shares of the company’s stock worth $24,714,000 after purchasing an additional 42,395 shares during the period. 86.64% of the stock is owned by institutional investors.

About Okta

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.