Key Points
- Insider sale: Eric Robert Kelleher sold 2,409 Okta shares on Jan. 2 at an average price of $84.40 for $203,319.60, reducing his holding by 17.62% to 11,266 shares, according to an SEC filing.
- $1.0 billion share repurchase authorized — the board approved a buyback program that can repurchase roughly 6.8% of shares, a move management and analysts view as a signal the stock may be undervalued.
- Okta recently beat quarterly estimates (EPS $0.82 vs. $0.76 consensus; revenue $742M vs. $730.2M) and set FY2026 EPS guidance of 3.430–3.440, while analysts hold a consensus "Moderate Buy" with a $114.09 price target.
Okta, Inc. (NASDAQ:OKTA - Get Free Report) insider Eric Robert Kelleher sold 2,409 shares of the business's stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $84.40, for a total transaction of $203,319.60. Following the transaction, the insider owned 11,266 shares in the company, valued at $950,850.40. This represents a 17.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Eric Robert Kelleher also recently made the following trade(s):
- On Monday, December 22nd, Eric Robert Kelleher sold 127 shares of Okta stock. The shares were sold at an average price of $91.40, for a total transaction of $11,607.80.
- On Thursday, December 18th, Eric Robert Kelleher sold 8,370 shares of Okta stock. The stock was sold at an average price of $90.19, for a total value of $754,890.30.
Okta Stock Up 3.0%
Shares of NASDAQ OKTA opened at $90.36 on Wednesday. The business's 50 day moving average price is $85.95 and its two-hundred day moving average price is $90.57. The company has a market cap of $16.01 billion, a PE ratio of 82.90, a price-to-earnings-growth ratio of 4.10 and a beta of 0.76. Okta, Inc. has a twelve month low of $75.05 and a twelve month high of $127.57.
Okta (NASDAQ:OKTA - Get Free Report) last issued its earnings results on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.76 by $0.06. The company had revenue of $742.00 million during the quarter, compared to the consensus estimate of $730.23 million. Okta had a return on equity of 3.77% and a net margin of 6.87%.The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.67 EPS. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. As a group, research analysts anticipate that Okta, Inc. will post 0.42 EPS for the current fiscal year.
Okta declared that its board has approved a share buyback program on Monday, January 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.
Analysts Set New Price Targets
A number of research firms have recently issued reports on OKTA. Barclays cut their target price on shares of Okta from $112.00 to $95.00 and set an "equal weight" rating for the company in a research note on Tuesday, November 18th. KeyCorp reissued an "overweight" rating and issued a $140.00 price target on shares of Okta in a report on Monday, December 1st. JPMorgan Chase & Co. cut their price objective on shares of Okta from $140.00 to $115.00 and set an "overweight" rating for the company in a research report on Monday, December 1st. Cowen restated a "hold" rating on shares of Okta in a report on Wednesday, December 3rd. Finally, Guggenheim reissued a "buy" rating and set a $138.00 target price on shares of Okta in a report on Wednesday, December 3rd. Twenty-four analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Okta presently has a consensus rating of "Moderate Buy" and a consensus price target of $114.09.
Read Our Latest Report on OKTA
Key Okta News
Here are the key news stories impacting Okta this week:
- Positive Sentiment: Board authorizes $1 billion share repurchase (up to ~6.8% of shares), which can reduce float, boost EPS and is being read as a signal management views the stock as undervalued. Okta Announces $1 Billion Share Repurchase Program
- Positive Sentiment: Robert W. Baird analyst Shrenik Kothari maintained a Buy rating, citing OKTA’s cash generation and the $1B buyback as support for 2026 upside — analyst support can help sustain investor demand. Okta: Undervalued Security Platform Poised for 2026 Upside
- Neutral Sentiment: Media coverage and market commentary note shares have edged higher following the buyback announcement, helping momentum but not adding new fundamental information. Okta (OKTA) stock is up, what you need to know
- Neutral Sentiment: Okta is scheduled to present at an investor conference (upcoming presentation could provide additional color on strategy and execution). Okta to Present at Upcoming Investor Conference: Key Insights for Investors
- Negative Sentiment: Insider sale: Eric Robert Kelleher sold 2,409 shares at an average $84.40 on Jan 2 (17.6% reduction in his holding), disclosed in an SEC filing — insider sales can be perceived negatively, though this appears modest relative to the company’s buyback. SEC Form 4 - Insider Sale
Institutional Trading of Okta
Several large investors have recently made changes to their positions in the company. Fluent Financial LLC grew its position in Okta by 94.9% in the second quarter. Fluent Financial LLC now owns 10,825 shares of the company's stock valued at $1,082,000 after acquiring an additional 5,272 shares during the last quarter. Ninety One SA PTY Ltd boosted its stake in shares of Okta by 57.9% in the 2nd quarter. Ninety One SA PTY Ltd now owns 49,209 shares of the company's stock valued at $4,920,000 after purchasing an additional 18,046 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of Okta by 3.5% in the 1st quarter. Focus Partners Wealth now owns 114,480 shares of the company's stock valued at $12,046,000 after purchasing an additional 3,857 shares in the last quarter. US Bancorp DE grew its holdings in shares of Okta by 478.0% during the 2nd quarter. US Bancorp DE now owns 408,888 shares of the company's stock valued at $40,877,000 after purchasing an additional 338,143 shares during the last quarter. Finally, Smith Group Asset Management LLC increased its position in Okta by 2.0% during the 2nd quarter. Smith Group Asset Management LLC now owns 242,793 shares of the company's stock worth $24,272,000 after purchasing an additional 4,798 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.
Okta Company Profile
(
Get Free Report)
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.
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