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

Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon sold 11,263 shares of Okta stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $81.01, for a total transaction of $912,415.63. Following the transaction, the chief executive officer directly owned 97,083 shares in the company, valued at $7,864,693.83. The trade was a 10.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Okta Stock Performance

Shares of NASDAQ:OKTA opened at $78.12 on Thursday. The company has a 50 day moving average price of $82.19 and a two-hundred day moving average price of $86.24. The company has a market capitalization of $13.82 billion, a PE ratio of 59.63, a PEG ratio of 3.00 and a beta of 0.79. Okta, Inc. has a 52 week low of $68.77 and a 52 week high of $127.57.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. Okta had a net margin of 8.05% and a return on equity of 4.18%. The company had revenue of $761.00 million for the quarter, compared to analysts’ expectations of $749.87 million. During the same period last 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. On average, sell-side analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta declared that its board has authorized a stock buyback program on Monday, January 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently commented on OKTA. Cantor Fitzgerald dropped their price target on Okta from $115.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. The Goldman Sachs Group decreased their price objective on Okta from $137.00 to $117.00 and set a “buy” rating for the company in a research report on Wednesday, December 3rd. KeyCorp lowered their target price on Okta from $115.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, March 5th. Mizuho dropped their target price on shares of Okta from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Tuesday, February 17th. Finally, Susquehanna cut their price target on shares of Okta from $105.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Okta has a consensus rating of “Moderate Buy” and a consensus price target of $103.25.

Key Stories Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta reported an earnings beat with revenue growth and set FY‑2027 guidance; management also has a $1.0B share‑repurchase authorization that supports the share base and signals confidence. Okta Earnings Beat, But Growth Questions Remain
• Positive Sentiment: Analyst coverage remains skewed toward Buy: consensus rating is a “Moderate Buy” with a consensus target above current levels, which provides medium‑term support if execution continues. MarketBeat OKTA summary
• Neutral Sentiment: Okta is receiving elevated attention from retail and research readers (Zacks / trending‑stock coverage), which can raise intraday volume and volatility but is not an earnings or product catalyst by itself. Zacks trending stock article
• Neutral Sentiment: Recent short‑interest reports in the feed show anomalous/zero values and NaNs — the published numbers look like a data error, so short‑interest signals are currently ambiguous and shouldn’t be relied on until corrected.
• Negative Sentiment: Insider selling: CEO Todd McKinnon sold 11,263 shares (~$912k at ~$81) and senior exec Eric Kelleher sold 16,818 shares (~$1.35M at $80). Large insider dispositions can spook investors even if for tax/planned reasons. McKinnon SEC filing Kelleher SEC filing
• Negative Sentiment: AI integration news: shares earlier dropped after Anthropic said its Claude assistant can now control computers (simulate keystrokes/mouse). The market viewed that as a potential threat to parts of Okta’s workflow/security positioning, triggering risk‑off pressure. Why Okta Stock Is Nosediving (Yahoo)

Institutional Investors Weigh In On Okta

A number of institutional investors and hedge funds have recently made changes to their positions in OKTA. Vanguard Group Inc. increased its stake in shares of Okta by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock worth $1,815,956,000 after purchasing an additional 1,074,977 shares during the last quarter. Elo Mutual Pension Insurance Co lifted its stake in Okta by 40.1% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 52,597 shares of the company’s stock valued at $4,823,000 after purchasing an additional 15,058 shares during the last quarter. Bourgeon Capital Management LLC acquired a new stake in Okta in the 3rd quarter valued at about $7,946,000. Massachusetts Financial Services Co. MA grew its holdings in Okta by 4.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,635,572 shares of the company’s stock worth $425,082,000 after purchasing an additional 179,919 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Okta by 3.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,244,062 shares of the company’s stock worth $124,369,000 after purchasing an additional 36,304 shares during the period. Institutional investors own 86.64% of the company’s stock.

About Okta

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.