Okta (NASDAQ:OKTA) Insider Sells $172,315.26 in Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 1,899 shares of the stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $90.74, for a total value of $172,315.26. Following the completion of the transaction, the insider directly owned 38,164 shares in the company, valued at approximately $3,463,001.36. This represents a 4.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Friday, December 5th, Larissa Schwartz sold 1,318 shares of Okta stock. The shares were sold at an average price of $85.71, for a total transaction of $112,965.78.
• On Tuesday, November 11th, Larissa Schwartz sold 1,318 shares of Okta stock. The stock was sold at an average price of $85.26, for a total transaction of $112,372.68.

Okta Stock Down 1.8%

Okta stock traded down $1.70 during midday trading on Friday, reaching $92.23. 1,819,846 shares of the stock traded hands, compared to its average volume of 2,429,934. The stock has a market cap of $16.35 billion, a P/E ratio of 84.61, a PEG ratio of 4.39 and a beta of 0.76. The stock’s fifty day moving average is $86.20 and its 200-day moving average is $90.62. Okta, Inc. has a 12 month low of $75.05 and a 12 month high of $127.57.

Okta (NASDAQ:OKTA) last posted its earnings results on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. Okta had a return on equity of 3.77% and a net margin of 6.87%.The firm had revenue of $742.00 million during the quarter, compared to the consensus estimate of $730.23 million. During the same period in the prior year, the company earned $0.67 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. On average, equities analysts predict that Okta, Inc. will post 0.42 EPS for the current fiscal year.

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

Institutional Trading of Okta

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. boosted its position in Okta by 12.6% during the first quarter. Advisors Asset Management Inc. now owns 1,073 shares of the company’s stock valued at $113,000 after purchasing an additional 120 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Okta during the first quarter valued at about $225,000. NewEdge Advisors LLC boosted its holdings in shares of Okta by 853.4% in the 1st quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock valued at $582,000 after buying an additional 4,950 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of Okta in the 1st quarter worth approximately $518,000. Finally, Arete Wealth Advisors LLC bought a new position in shares of Okta during the 1st quarter worth approximately $368,000. Institutional investors own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Okta in a research note on Monday, December 1st. Mizuho decreased their price target on Okta from $120.00 to $110.00 and set an “outperform” rating on the stock in a report on Monday, November 17th. BTIG Research dropped their price objective on shares of Okta from $142.00 to $116.00 and set a “buy” rating for the company in a research note on Wednesday, December 3rd. Cowen reissued a “hold” rating on shares of Okta in a research note on Wednesday, December 3rd. Finally, Royal Bank Of Canada upped their price target on shares of Okta from $97.00 to $108.00 and gave the company an “outperform” rating in a report on Monday. Twenty-four investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Okta presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.09.

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.