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

Okta, Inc. (NASDAQ:OKTA) CEO Todd McKinnon sold 48,822 shares of the company’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $193.48, for a total transaction of $9,446,080.56. Following the completion of the transaction, the chief executive officer owned 44,029 shares in the company, valued at approximately $8,518,730.92. This represents a 52.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 Trading Up 0.6%

Okta stock traded up $1.28 during trading on Thursday, hitting $206.64. The company had a trading volume of 5,194,113 shares, compared to its average volume of 3,626,409. The stock has a market cap of $36.12 billion, a price-to-earnings ratio of 124.48, a price-to-earnings-growth ratio of 6.12 and a beta of 0.79. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $212.50. The company’s 50 day simple moving average is $156.52 and its 200-day simple moving average is $118.37.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. Okta had a return on equity of 4.50% and a net margin of 9.63%.The company had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $793.00 million. During the same period in the prior year, the firm earned $0.91 earnings per share. The firm’s 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, analysts forecast that Okta, Inc. will post 1.92 earnings per share for the current fiscal year.

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.

Institutional Investors Weigh In On Okta

A number of hedge funds have recently bought and sold shares of OKTA. Geode Capital Management LLC increased its stake in shares of Okta by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock worth $281,246,000 after buying an additional 57,605 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Okta by 71.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock valued at $281,209,000 after acquiring an additional 1,485,963 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in Okta by 28.4% in the first quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company’s stock worth $195,844,000 after acquiring an additional 550,328 shares during the last quarter. Norges Bank purchased a new position in Okta in the fourth quarter worth approximately $175,193,000. Finally, Swedbank AB grew its holdings in Okta by 21.9% during the 1st quarter. Swedbank AB now owns 2,216,588 shares of the company’s stock worth $174,468,000 after acquiring an additional 397,507 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on OKTA. Citigroup reaffirmed a “neutral” rating on shares of Okta in a research report on Thursday. UBS Group raised their price objective on shares of Okta from $150.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Capital One Financial set a $171.00 price objective on shares of Okta and gave the company an “overweight” rating in a report on Thursday, July 16th. Susquehanna upped their target price on shares of Okta from $110.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, August 28th. Finally, HC Wainwright assumed coverage on shares of Okta in a report on Monday, July 6th. They set a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.69.

Okta Company Profile

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.