Insider Selling: Okta (NASDAQ:OKTA) Insider Sells $146,678.04 in Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 1,836 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $79.89, for a total value of $146,678.04. Following the completion of the transaction, the insider directly owned 79,422 shares of the company’s stock, valued at $6,345,023.58. The trade was a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, February 6th, Larissa Schwartz sold 1,836 shares of Okta stock. The stock was sold at an average price of $83.47, for a total value of $153,250.92.
• On Wednesday, January 7th, Larissa Schwartz sold 1,899 shares of Okta stock. The shares were sold at an average price of $90.74, for a total value of $172,315.26.

Okta Stock Up 0.3%

Shares of OKTA stock opened at $79.16 on Friday. Okta, Inc. has a fifty-two week low of $68.77 and a fifty-two week high of $127.57. The stock has a market cap of $14.03 billion, a P/E ratio of 60.43, a P/E/G ratio of 3.09 and a beta of 0.79. The business has a fifty day simple moving average of $84.39 and a 200-day simple moving average of $86.95.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share (EPS) for the quarter, topping 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 business had revenue of $761.00 million during the quarter, compared to the consensus estimate of $749.87 million. During the same quarter in the previous year, the company posted $0.78 EPS. The business’s revenue was up 11.6% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. On average, sell-side analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta declared that its Board of Directors has initiated a share repurchase program on Monday, January 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 6.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

OKTA has been the topic of several research reports. Canaccord Genuity Group lowered their price target on shares of Okta from $120.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Needham & Company LLC cut their price objective on Okta from $110.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Susquehanna reduced their target price on Okta from $105.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 3rd. Stephens lowered their target price on Okta from $120.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, March 5th. Finally, Barclays dropped their price target on Okta from $95.00 to $85.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.25.

Institutional Investors Weigh In On Okta

Several hedge funds have recently made changes to their positions in the business. Corient Private Wealth LLC grew its position in shares of Okta by 60.2% in the fourth quarter. Corient Private Wealth LLC now owns 17,914 shares of the company’s stock valued at $1,549,000 after purchasing an additional 6,732 shares during the period. Hsbc Holdings PLC lifted its position in Okta by 12.1% during the fourth quarter. Hsbc Holdings PLC now owns 381,546 shares of the company’s stock worth $33,038,000 after buying an additional 41,162 shares during the period. SHP Wealth Management purchased a new position in Okta during the fourth quarter worth about $27,000. Kera Capital Partners Inc. boosted its stake in Okta by 57.6% in the 4th quarter. Kera Capital Partners Inc. now owns 5,401 shares of the company’s stock worth $456,000 after buying an additional 1,975 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Okta by 19.1% in the 4th quarter. Invesco Ltd. now owns 548,741 shares of the company’s stock worth $47,450,000 after buying an additional 88,112 shares during the last quarter. Institutional investors and hedge funds 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.