Okta (NASDAQ:OKTA) Insider Eric Robert Kelleher Sells 16,818 Shares

Okta, Inc. (NASDAQ:OKTA) insider Eric Robert Kelleher sold 16,818 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $80.00, for a total value of $1,345,440.00. Following the transaction, the insider owned 15,470 shares in the company, valued at approximately $1,237,600. This trade represents a 52.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Eric Robert Kelleher also recently made the following trade(s):

• On Friday, January 2nd, Eric Robert Kelleher sold 2,409 shares of Okta stock. The stock was sold at an average price of $84.40, for a total transaction of $203,319.60.

Okta Stock Performance

Shares of OKTA traded up $2.69 during mid-day trading on Monday, hitting $81.10. The company’s stock had a trading volume of 2,846,965 shares, compared to its average volume of 3,231,472. The stock’s 50-day moving average is $83.09 and its two-hundred day moving average is $86.46. The firm has a market capitalization of $14.35 billion, a PE ratio of 61.91, a price-to-earnings-growth ratio of 3.07 and a beta of 0.79. Okta, Inc. has a one year low of $68.77 and a one year 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, 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 business had revenue of $761.00 million for the quarter, compared to analyst estimates of $749.87 million. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Okta’s 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. Analysts expect that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Okta declared that its Board of Directors has approved a share buyback plan on Monday, January 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages recently issued reports on OKTA. Royal Bank Of Canada boosted their price target on Okta from $97.00 to $108.00 and gave the company an “outperform” rating in a research note on Monday, January 5th. The Goldman Sachs Group cut their price target on shares of Okta from $137.00 to $117.00 and set a “buy” rating for the company in a research note on Wednesday, December 3rd. Mizuho decreased their price objective on Okta from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Tuesday, February 17th. Sanford C. Bernstein reissued an “outperform” rating and issued a $134.00 target price on shares of Okta in a report on Friday, March 6th. Finally, Canaccord Genuity Group cut their target price on Okta from $120.00 to $95.00 and set a “buy” rating for the company in a research report 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.25.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of OKTA. Steward Partners Investment Advisory LLC grew its position in Okta by 5.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 2,238 shares of the company’s stock valued at $224,000 after purchasing an additional 113 shares in the last quarter. Spire Wealth Management lifted its position in Okta by 30.8% during the 4th quarter. Spire Wealth Management now owns 505 shares of the company’s stock worth $44,000 after buying an additional 119 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Okta by 6.4% during the 3rd quarter. Allworth Financial LP now owns 2,251 shares of the company’s stock worth $206,000 after buying an additional 135 shares during the last quarter. Choreo LLC grew its holdings in shares of Okta by 2.0% in the 3rd quarter. Choreo LLC now owns 7,239 shares of the company’s stock valued at $664,000 after acquiring an additional 140 shares in the last quarter. Finally, Utah Retirement Systems grew its holdings in shares of Okta by 0.6% in the 4th quarter. Utah Retirement Systems now owns 28,605 shares of the company’s stock valued at $2,473,000 after acquiring an additional 163 shares in the last quarter. 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.