Okta (NASDAQ:OKTA) Insider Sells $3,349,360.23 in Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 24,971 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $134.13, for a total value of $3,349,360.23. Following the transaction, the insider directly owned 23,477 shares of the company’s stock, valued at approximately $3,148,970.01. This represents a 51.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Larissa Schwartz also recently made the following trade(s):

• On Thursday, May 7th, Larissa Schwartz sold 1,054 shares of Okta stock. The stock was sold at an average price of $80.00, for a total value of $84,320.00.
• On Wednesday, May 6th, Larissa Schwartz sold 5,323 shares of Okta stock. The stock was 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 stock was 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 stock was sold at an average price of $79.89, for a total value of $146,678.04.

Okta Stock Performance

Shares of Okta stock opened at $118.72 on Friday. Okta, Inc. has a one year low of $62.66 and a one year high of $142.35. The company has a market cap of $21.00 billion, a PE ratio of 86.03, a P/E/G ratio of 4.57 and a beta of 0.80. The business has a 50-day simple moving average of $84.84 and a 200-day simple moving average of $84.50.

Okta (NASDAQ:OKTA) last announced its quarterly earnings data on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $751.84 million. During the same period in the previous year, the company posted $0.86 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, sell-side analysts predict that Okta, Inc. will post 1.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

OKTA has been the subject of several recent analyst reports. HSBC upgraded Okta to a “buy” rating in a research note on Thursday, April 16th. Arete Research set a $127.00 target price on Okta and gave the stock a “buy” rating in a research note on Tuesday, May 26th. KeyCorp boosted their target price on Okta from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Wedbush restated an “outperform” rating and issued a $60.00 price objective on shares of Okta in a research note on Friday, May 29th. Finally, Wolfe Research began coverage on shares of Okta in a research note on Thursday, April 16th. They issued an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Okta currently has a consensus rating of “Moderate Buy” and an average price target of $112.29.

Institutional Investors Weigh In On Okta

Several large investors have recently modified their holdings of OKTA. Integrated Wealth Concepts LLC acquired a new stake in shares of Okta in the first quarter valued at approximately $225,000. NewEdge Advisors LLC boosted its holdings in shares of Okta by 853.4% in the first quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock valued at $582,000 after acquiring an additional 4,950 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Okta in the second quarter valued at approximately $244,000. Invesco Ltd. boosted its holdings in shares of Okta by 34.1% in the second quarter. Invesco Ltd. now owns 430,844 shares of the company’s stock valued at $43,071,000 after acquiring an additional 109,614 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Okta by 122.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,621 shares of the company’s stock valued at $162,000 after acquiring an additional 893 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

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.