Eric Robert Kelleher Sells 3,977 Shares of Okta (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) insider Eric Robert Kelleher sold 3,977 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $114.10, for a total value of $453,775.70. Following the completion of the sale, the insider owned 19,618 shares of the company’s stock, valued at $2,238,413.80. The trade was a 16.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 1st, Eric Robert Kelleher sold 2,409 shares of Okta stock. The stock was sold at an average price of $80.00, for a total value of $192,720.00.

Okta Stock Up 0.4%

OKTA opened at $118.58 on Thursday. The stock’s fifty day moving average is $95.70 and its two-hundred day moving average is $87.81. The company has a market capitalization of $20.61 billion, a P/E ratio of 85.93, a PEG ratio of 4.28 and a beta of 0.80. Okta, Inc. has a 52 week low of $62.66 and a 52 week high of $142.35.

Okta (NASDAQ:OKTA) last issued its earnings results on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.06. Okta had a return on equity of 4.15% and a net margin of 8.24%.The business had revenue of $765.00 million during the quarter, compared to analysts’ expectations of $751.84 million. During the same period in the prior year, the business earned $0.86 EPS. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. Equities analysts anticipate that Okta, Inc. will post 1.74 earnings per share for the current year.

Hedge Funds Weigh In On Okta

Institutional investors and hedge funds have recently bought and sold shares of the company. First Trust Advisors LP increased its position in shares of Okta by 28.2% during the fourth quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock worth $521,422,000 after purchasing an additional 1,326,051 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Okta by 71.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock worth $281,209,000 after purchasing an additional 1,485,963 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Okta by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock worth $281,246,000 after purchasing an additional 57,605 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Okta by 2.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,389 shares of the company’s stock worth $215,776,000 after buying an additional 69,653 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in Okta by 28.4% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company’s stock worth $195,844,000 after buying an additional 550,328 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Stephens cut their target price on shares of Okta from $120.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, March 5th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $134.00 price target on shares of Okta in a research report on Friday, March 6th. Citigroup reiterated an “outperform” rating on shares of Okta in a research note on Friday, May 29th. Wells Fargo & Company lifted their price objective on shares of Okta from $85.00 to $100.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. Finally, Mizuho downgraded shares of Okta from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $110.00 to $125.00 in a research note on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $114.71.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Needham & Company raised its price target on Okta to $140 from $120 and reiterated a Buy rating, signaling continued confidence in upside from current levels.
• Positive Sentiment: Okta expanded its Cross App Access ecosystem to secure AI agent connections, a move that reinforces its role in identity and access management as enterprise AI adoption grows. Okta expands Cross App Access ecosystem to secure AI agent connections
• Positive Sentiment: Shareholders approved changes to Okta’s 2017 equity plan and backed the governance slate at the June 18 annual meeting, removing a potential overhang and suggesting strong shareholder support. Okta Stockholders Approve Equity Plan Changes, Governance Slate
• Neutral Sentiment: Analyst coverage remains constructive overall, with Wells Fargo maintaining a Hold and consensus still sitting at Moderate Buy, which supports sentiment but is not a major surprise. Wells Fargo Sticks to Their Hold Rating for Okta (OKTA)
• Neutral Sentiment: Okta is drawing heavy investor attention as a trending stock, which can lift trading activity but does not by itself change the business outlook. Here is What to Know Beyond Why Okta, Inc. (OKTA) is a Trending Stock
• Negative Sentiment: Insiders Eric Robert Kelleher and Larissa Schwartz sold shares in pre-arranged Rule 10b5-1 transactions; the sales were routine, but insider selling can still make some investors cautious. Eric Robert Kelleher insider sale details

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.