Okta (NASDAQ:OKTA) Insider Larissa Schwartz Sells 2,463 Shares of Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,463 shares of the stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $120.00, for a total value of $295,560.00. Following the sale, the insider owned 25,241 shares in the company, valued at $3,028,920. The trade was a 8.89% decrease in their position. 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.

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

• On Tuesday, June 2nd, Larissa Schwartz sold 24,971 shares of Okta stock. The shares were sold at an average price of $134.13, for a total value of $3,349,360.23.
• On Thursday, May 7th, Larissa Schwartz sold 1,054 shares of Okta stock. The stock was sold at an average price of $80.00, for a total transaction of $84,320.00.
• On Wednesday, May 6th, Larissa Schwartz sold 5,323 shares of Okta stock. The stock was sold at an average price of $77.06, for a total transaction of $410,190.38.
• On Tuesday, April 7th, Larissa Schwartz sold 6,377 shares of Okta stock. The stock was sold at an average price of $79.75, for a total transaction of $508,565.75.

Okta Price Performance

Shares of OKTA stock traded up $0.42 during trading hours on Wednesday, reaching $118.58. 2,703,923 shares of the company were exchanged, compared to its average volume of 3,687,460. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $142.35. The stock’s fifty day moving average is $94.64 and its two-hundred day moving average is $87.58. The company has a market cap of $20.61 billion, a price-to-earnings ratio of 85.93, a P/E/G ratio of 4.20 and a beta of 0.80.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.15%. The business had revenue of $765.00 million during the quarter, compared to analyst estimates of $751.84 million. During the same quarter last year, the business posted $0.86 earnings per share. Okta’s revenue for the quarter was up 11.2% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, research analysts anticipate that Okta, Inc. will post 1.74 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on OKTA shares. Piper Sandler lifted their price objective on Okta from $82.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. BMO Capital Markets raised their target price on shares of Okta from $95.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. KeyCorp boosted their price target on shares of Okta from $95.00 to $103.00 and gave the stock an “overweight” rating in a research note on Monday, May 18th. Needham & Company LLC increased their price objective on shares of Okta from $120.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Zacks Research cut shares of Okta from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.71.

Institutional Trading of Okta

Hedge funds have recently modified their holdings of the company. Elevation Wealth Partners LLC grew its holdings in Okta by 825.0% during the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after purchasing an additional 264 shares during the period. SHP Wealth Management bought a new position in shares of Okta during the fourth quarter worth $27,000. Torren Management LLC acquired a new position in shares of Okta in the 4th quarter valued at $32,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Okta in the 3rd quarter valued at $34,000. Finally, Spire Wealth Management increased its position in shares of Okta by 30.8% in the 4th quarter. Spire Wealth Management now owns 505 shares of the company’s stock valued at $44,000 after buying an additional 119 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Needham raised its price target on Okta to $140 from $120 and kept a Buy rating, reinforcing bullish expectations for the company’s growth and implying meaningful upside from current levels.
• Positive Sentiment: Okta expanded its Cross App Access ecosystem to secure AI agent connections, adding partners such as Anthropic, Canva, and Atlassian. That supports the view that Okta is becoming a bigger player in AI-era identity and access security. Only 13% of Australian firms can stop a rogue AI agent: Okta expands Cross App Access with Anthropic, Canva and Atlassian aboard
• Positive Sentiment: Okta stockholders approved changes to the company’s equity plan and governance slate at the annual meeting, which removes a governance overhang and suggests shareholder backing. Okta Stockholders Approve Equity Plan Changes, Governance Slate
• Neutral Sentiment: Analyst coverage remains generally constructive, with Wells Fargo reiterating a Hold and broader Street sentiment still around Moderate Buy. That supports sentiment, but it is not a major new catalyst. Wells Fargo Sticks to Their Hold Rating for Okta (OKTA)
• Neutral Sentiment: Okta remains a trending stock on investor watchlists, which can keep trading interest elevated, though it does not change the company’s fundamentals by itself. Here is What to Know Beyond Why Okta, Inc. (OKTA) is a Trending Stock
• Negative Sentiment: Insider Eric Robert Kelleher sold 3,977 shares in a pre-arranged Rule 10b5-1 transaction. While routine, insider selling can still make some investors cautious. Eric Robert Kelleher insider sale details

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.