Okta (NASDAQ:OKTA) CEO Todd Mckinnon Sells 11,263 Shares

Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon sold 11,263 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $81.01, for a total value of $912,415.63. Following the completion of the transaction, the chief executive officer directly owned 97,083 shares in the company, valued at $7,864,693.83. This represents a 10.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Okta Price Performance

Shares of OKTA traded up $1.36 during trading hours on Wednesday, hitting $78.12. 4,701,036 shares of the company were exchanged, compared to its average volume of 3,262,874. The company has a market capitalization of $13.82 billion, a PE ratio of 59.63, a PEG ratio of 3.17 and a beta of 0.79. The firm has a fifty day simple moving average of $82.50 and a 200-day simple moving average of $86.29. Okta, Inc. has a one year low of $68.77 and a one year high of $127.57.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $749.87 million. During the same period in the previous year, the firm 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. Sell-side analysts expect that Okta, Inc. will post 0.42 EPS for the current year.

Okta declared that its Board of Directors has authorized a share buyback program on Monday, January 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Key Okta News

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Earnings beat, revenue growth and buyback — Okta reported an EPS and revenue beat in early March and reiterated FY‑2027 guidance; the company also has a $1.0B share‑repurchase authorization, which supports shareholder value. Okta Earnings Beat, But Growth Questions Remain
• Positive Sentiment: Broader market rally lifted the stock — Comments that triggered a broad market rally recently helped push OKTA higher as investors rotated back into software names. Okta (OKTA) Stock Trades Up, Here Is Why
• Neutral Sentiment: Media and analyst attention — OKTA is a “trending” stock on Zacks and has mixed analyst positioning (consensus Moderate Buy, target ~ $103.25), which can amplify volatility but doesn’t change fundamentals immediately. Okta, Inc. (OKTA) Is a Trending Stock
• Neutral Sentiment: Short‑interest reporting looks erroneous — recent short‑interest entries show 0 shares and NaN changes (likely a data error); until reliable short‑interest figures are posted, don’t read too much into those prints.
• Negative Sentiment: Competitive risk from AI automations — reports that Anthropic’s Claude can control computers (imitating keystrokes/mouse) spooked investors worried about new vectors for identity/access threats or shifts in how access controls are managed, contributing to intraday weakness. Why Okta (OKTA) Stock Is Nosediving
• Negative Sentiment: Insider selling — CEO Todd McKinnon sold 11,263 shares (filed with the SEC) and another senior exec (Eric Kelleher) sold 16,818 shares recently; sizable insider sales can be perceived negatively by investors even if they’re for personal liquidity. McKinnon SEC Filing Kelleher Insider Trade

Institutional Trading of Okta

A number of hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC acquired a new stake in shares of Okta during the 1st quarter valued at $225,000. NewEdge Advisors LLC increased its stake in shares of Okta by 853.4% in the first quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock worth $582,000 after acquiring an additional 4,950 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Okta in the second quarter worth $244,000. Cetera Investment Advisers raised its holdings in shares of Okta by 22.7% during the second quarter. Cetera Investment Advisers now owns 27,486 shares of the company’s stock worth $2,748,000 after acquiring an additional 5,090 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in Okta by 1.0% during the second quarter. Handelsbanken Fonder AB now owns 40,900 shares of the company’s stock valued at $4,089,000 after purchasing an additional 400 shares during the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on OKTA shares. BTIG Research decreased their target price on shares of Okta from $116.00 to $90.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Guggenheim restated a “buy” rating and set a $138.00 price target on shares of Okta in a report on Wednesday, December 3rd. JPMorgan Chase & Co. upped their price target on shares of Okta from $102.00 to $103.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. UBS Group decreased their price objective on shares of Okta from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Finally, DA Davidson reiterated a “buy” rating and set a $110.00 price objective on shares of Okta in a research report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.25.

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.