Insider Selling: Okta (NASDAQ:OKTA) Insider Sells 1,836 Shares of Stock

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

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

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

Okta Stock Performance

Shares of NASDAQ OKTA traded down $1.90 during trading on Thursday, hitting $78.95. 2,968,245 shares of the company were exchanged, compared to its average volume of 3,252,345. The company has a fifty day moving average price of $84.63 and a 200-day moving average price of $87.13. The firm has a market capitalization of $13.99 billion, a PE ratio of 60.27, a P/E/G ratio of 3.28 and a beta of 0.79. Okta, Inc. has a 12-month low of $68.77 and a 12-month 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, beating analysts’ consensus estimates of $0.85 by $0.05. The company had revenue of $761.00 million for the quarter, compared to analyst estimates of $749.87 million. Okta had a return on equity of 4.18% and a net margin of 8.05%.The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 earnings per share. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. Research analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Okta declared that its Board of Directors has authorized a stock repurchase plan on Monday, January 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on OKTA shares. Morgan Stanley cut their price objective on Okta from $110.00 to $101.00 and set an “overweight” rating for the company in a research report on Thursday, March 5th. Stifel Nicolaus decreased their price target on Okta from $121.00 to $92.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Jefferies Financial Group decreased their price target on shares of Okta from $125.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Roth Mkm reissued a “buy” rating on shares of Okta in a report on Wednesday, December 3rd. Finally, DA Davidson reissued a “buy” rating and set a $110.00 target price on shares of Okta in a research note on Thursday, March 5th. One 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $103.25.

Institutional Investors Weigh In On Okta

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Okta by 5.7% in the 3rd quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock valued at $1,815,956,000 after purchasing an additional 1,074,977 shares during the period. First Trust Advisors LP lifted its holdings in 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 acquiring an additional 1,326,051 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Okta by 4.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,635,572 shares of the company’s stock valued at $425,082,000 after buying an additional 179,919 shares during the period. Geode Capital Management LLC grew its stake in shares of Okta by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock worth $281,246,000 after acquiring an additional 57,605 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of 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 purchasing an additional 69,653 shares in the last quarter. 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.