Okta (NASDAQ:OKTA) CEO Todd Mckinnon Sells 48,822 Shares of Company Stock

Okta, Inc. (NASDAQ:OKTA) CEO Todd McKinnon sold 48,822 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The shares were sold at an average price of $193.48, for a total value of $9,446,080.56. Following the completion of the sale, the chief executive officer owned 44,029 shares of the company’s stock, valued at $8,518,730.92. This trade represents a 52.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Todd Mckinnon also recently made the following trade(s):

• On Wednesday, July 8th, Todd McKinnon sold 68,936 shares of Okta stock. The shares were sold at an average price of $146.62, for a total transaction of $10,107,396.32.

Okta Stock Performance

Shares of OKTA stock traded up $1.28 on Thursday, reaching $206.64. 5,194,113 shares of the company were exchanged, compared to its average volume of 3,626,409. The company has a market cap of $36.12 billion, a price-to-earnings ratio of 124.48, a P/E/G ratio of 6.12 and a beta of 0.79. The business has a 50-day moving average price of $156.52 and a 200 day moving average price of $118.37. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $212.50.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.09. Okta had a net margin of 9.63% and a return on equity of 4.50%. The firm had revenue of $805.00 million for the quarter, compared to analyst estimates of $793.00 million. During the same period last year, the company posted $0.91 EPS. Okta’s quarterly revenue was up 10.6% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. As a group, equities analysts anticipate that Okta, Inc. will post 1.92 earnings per share for the current year.

Hedge Funds Weigh In On Okta

A number of institutional investors have recently bought and sold shares of the company. QRG Capital Management Inc. acquired a new position in Okta in the 2nd quarter valued at about $1,025,000. Andra AP fonden purchased a new position in Okta in the second quarter worth approximately $961,000. Junto Capital Management LP acquired a new stake in Okta during the second quarter worth $45,486,000. National Pension Service increased its stake in Okta by 23.2% during the second quarter. National Pension Service now owns 43,893 shares of the company’s stock worth $5,989,000 after acquiring an additional 8,257 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in Okta by 521.5% in the second quarter. NewEdge Advisors LLC now owns 2,828 shares of the company’s stock valued at $386,000 after purchasing an additional 2,373 shares during the period. 86.64% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: AI-agent strategy is the main catalyst. Okta introduced capabilities including Agent SSO, runtime enforcement, agent lifecycle management and an AI “kill switch,” strengthening its ambition to become an identity-control platform for enterprise AI agents. BofA raises Okta price target
• Positive Sentiment: Analysts are raising targets and maintaining bullish ratings. BofA lifted its target to $220, while BTIG reaffirmed Buy with a $219 target. Wells Fargo and RBC raised targets to $230, DA Davidson to $235, and Guggenheim to $227. William Blair also initiated coverage with a Buy rating, citing Okta’s positioning in AI identity and an expanding addressable market.
• Positive Sentiment: Business fundamentals remain supportive. Okta’s latest quarterly results exceeded expectations, with revenue of $805 million, up 10.6% year over year, and adjusted EPS of $1.05 versus the $0.96 consensus estimate. Partner activity involving AWS, CrowdStrike and Aembit could expand adoption of Okta’s identity-governance platform.
• Neutral Sentiment: Investors still want evidence of durable acceleration. Jefferies expects stronger growth by 2027, but customer confusion could slow adoption. Mizuho remained Neutral pending proof that growth reacceleration will persist. Reports showing zero short interest appear inconsistent with the cited “increase” and may reflect incomplete data.
• Negative Sentiment: Valuation and momentum risks temper the optimism. After a substantial rally, Okta trades at a premium valuation, and its RSI is reportedly above 70, signaling overbought conditions. The Information also questioned how quickly AI investments will generate revenue. An executive’s sale of 6,395 shares was made under a pre-arranged 10b5-1 plan, reducing—but not eliminating—its significance.

Analyst Upgrades and Downgrades

OKTA has been the topic of a number of research analyst reports. Barclays lifted their price target on Okta from $180.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday. Robert W. Baird increased their price objective on Okta from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday. Berenberg Bank raised their price objective on Okta from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, May 29th. HSBC cut shares of Okta from a “buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Wall Street Zen raised Okta from a “hold” rating to a “buy” rating in a report on Saturday, August 29th. One research analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.69.

About Okta

Okta, Inc provides cloud-based identity and access management solutions for organizations. Its platform helps businesses securely connect employees, customers, partners and applications while managing authentication, authorization and user access across cloud, on-premises and mobile environments.

The company’s offerings include single sign-on, multifactor authentication, adaptive access controls, lifecycle management, identity governance and privileged access capabilities. Through its Customer Identity Cloud, powered by Auth0, Okta also provides tools for developers and businesses to embed authentication and authorization features into applications and digital services.

Founded in 2009 by Todd McKinnon and Frederic Kerrest, Okta completed its initial public offering in 2017.