Key Points
- Insider sale: Okta insider Larissa Schwartz sold 1,836 shares on March 10 at an average price of $79.89 for about $146,678, reducing her stake by 2.26% to 79,422 shares. She also sold blocks of shares on Feb. 6 and Jan. 7, signalling multiple recent disposals.
- Earnings beat and buyback: Okta reported Q results of $0.90 EPS versus $0.85 expected and $761M revenue (up 11.6% YoY), and the board authorized a $1.0 billion buyback; analysts maintain a consensus "Moderate Buy" with a $103.25 target.
Okta, Inc. (NASDAQ:OKTA - Get Free Report) insider Larissa Schwartz sold 1,836 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $79.89, for a total value of $146,678.04. Following the transaction, the insider directly owned 79,422 shares of the company's stock, valued at approximately $6,345,023.58. This trade represents a 2.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Larissa Schwartz also recently made the following trade(s):
- On Friday, February 6th, Larissa Schwartz sold 1,836 shares of Okta stock. The stock was sold at an average price of $83.47, for a total value of $153,250.92.
- On Wednesday, January 7th, Larissa Schwartz sold 1,899 shares of Okta stock. The shares were sold at an average price of $90.74, for a total value of $172,315.26.
Okta Stock Performance
Shares of OKTA traded up $0.23 during trading hours on Friday, hitting $79.18. The company had a trading volume of 974,440 shares, compared to its average volume of 3,204,089. The stock has a market capitalization of $14.03 billion, a price-to-earnings ratio of 60.38, a P/E/G ratio of 3.16 and a beta of 0.79. The firm has a fifty day moving average price of $84.48 and a 200-day moving average price of $87.07. Okta, Inc. has a 52-week low of $68.77 and a 52-week high of $127.57.
Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.85 by $0.05. The company had revenue of $761.00 million for the quarter, compared to the consensus estimate of $749.87 million. Okta had a net margin of 8.05% and a return on equity of 4.18%. Okta's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 EPS. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. Research analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.
Okta announced that its Board of Directors has authorized a stock buyback plan on Monday, January 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several analysts have commented on OKTA shares. Royal Bank Of Canada increased their target price on Okta from $97.00 to $108.00 and gave the company an "outperform" rating in a research note on Monday, January 5th. UBS Group dropped their price objective on Okta from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Thursday, March 5th. Wells Fargo & Company started coverage on Okta in a report on Tuesday, March 3rd. They issued an "equal weight" rating and a $76.00 price objective for the company. Cantor Fitzgerald lowered their target price on shares of Okta from $115.00 to $100.00 and set an "overweight" rating on the stock in a research note on Friday, February 27th. Finally, BTIG Research dropped their price target on shares of Okta from $116.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.25.
Check Out Our Latest Report on OKTA
Institutional Trading of Okta
Several large investors have recently modified their holdings of OKTA. Promus Capital LLC bought a new position in Okta in the second quarter valued at about $27,000. Root Financial Partners LLC purchased a new stake in shares of Okta during the 3rd quarter valued at about $26,000. Elevation Wealth Partners LLC increased its position in shares of Okta by 825.0% during the 4th 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 last quarter. SHP Wealth Management bought a new position in shares of Okta in the 4th quarter worth approximately $27,000. Finally, Torren Management LLC purchased a new position in shares of Okta in the fourth quarter worth approximately $32,000. Institutional investors 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.
Further Reading
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