Okta (NASDAQ:OKTA) Insider Larissa Schwartz 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 shares were sold at an average price of $79.89, for a total value of $146,678.04. Following the transaction, the insider directly owned 79,422 shares in the company, valued at $6,345,023.58. This trade represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $90.74, for a total value of $172,315.26.

Okta Price Performance

Okta stock traded up $0.23 during trading hours on Friday, reaching $79.18. The company had a trading volume of 974,440 shares, compared to its average volume of 3,204,089. The company has a 50-day moving average price of $84.48 and a 200 day moving average price of $87.07. The firm has a market cap of $14.03 billion, a price-to-earnings ratio of 60.38, a P/E/G ratio of 3.16 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 released its quarterly earnings data on Wednesday, March 4th. The company reported $0.90 earnings per share for the quarter, beating 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 firm had revenue of $761.00 million during the quarter, compared to analyst estimates of $749.87 million. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The business’s quarterly revenue 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. As a group, research analysts expect that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta announced that its Board of Directors has initiated a share repurchase program on Monday, January 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on OKTA shares. Cantor Fitzgerald dropped their target price on shares of Okta from $115.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, February 27th. Stifel Nicolaus lowered their price target on Okta from $121.00 to $92.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Wells Fargo & Company initiated coverage on Okta in a report on Tuesday, March 3rd. They issued an “equal weight” rating and a $76.00 price objective for the company. Citigroup reduced their target price on Okta from $100.00 to $87.00 and set a “neutral” rating on the stock in a research note on Thursday, March 5th. Finally, BMO Capital Markets upgraded Okta from a “market perform” rating to an “outperform” rating and upped their target price for the company from $83.00 to $97.00 in a report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $103.25.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in OKTA. Promus Capital LLC purchased a new stake in Okta in the second quarter worth $27,000. Root Financial Partners LLC purchased a new position in Okta during the third quarter valued at $26,000. Elevation Wealth Partners LLC boosted its holdings in shares of Okta by 825.0% during the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after buying an additional 264 shares in the last quarter. SHP Wealth Management bought a new stake in shares of Okta during the 4th quarter valued at $27,000. Finally, Torren Management LLC purchased a new stake in shares of Okta in the 4th quarter worth about $32,000. Institutional investors 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.