Okta, Inc. (NASDAQ:OKTA - Get Free Report) insider Eric Robert Kelleher sold 16,818 shares of the firm's 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 completion of the transaction, the insider directly owned 15,470 shares of the company's stock, valued at $1,237,600. The trade was a 52.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
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 Price Performance
Shares of NASDAQ:OKTA opened at $81.10 on Tuesday. Okta, Inc. has a 12 month low of $68.77 and a 12 month high of $127.57. The business has a 50-day moving average of $82.84 and a two-hundred day moving average of $86.40. The firm has a market capitalization of $14.35 billion, a PE ratio of 61.91, a P/E/G ratio of 3.07 and a beta of 0.79.
Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings data on Wednesday, March 4th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.05. The company had revenue of $761.00 million for the quarter, compared to analyst estimates of $749.87 million. Okta had a net margin of 8.05% and a return on equity of 4.18%. The business's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 earnings per share. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. As a group, research analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current year.
Okta announced that its Board of Directors has authorized a share repurchase plan on Monday, January 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 6.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.
Hedge Funds Weigh In On Okta
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its position in shares of Okta by 5.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,238 shares of the company's stock worth $224,000 after purchasing an additional 113 shares during the period. Spire Wealth Management increased its position in shares of Okta by 30.8% during the fourth quarter. Spire Wealth Management now owns 505 shares of the company's stock worth $44,000 after buying an additional 119 shares during the period. Allworth Financial LP raised its stake in Okta by 6.4% during the third 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 lifted its holdings in Okta by 2.0% in the third quarter. Choreo LLC now owns 7,239 shares of the company's stock valued at $664,000 after buying an additional 140 shares during the period. Finally, Utah Retirement Systems boosted its position in Okta by 0.6% during the fourth 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 during the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms recently commented on OKTA. Citigroup lowered their target price on Okta from $100.00 to $87.00 and set a "neutral" rating on the stock in a research report on Thursday, March 5th. Stephens decreased their price target on Okta from $120.00 to $95.00 and set an "overweight" rating for the company in a research note on Thursday, March 5th. Guggenheim reissued a "buy" rating and issued a $138.00 price objective on shares of Okta in a research note on Wednesday, December 3rd. Morgan Stanley decreased their target price on Okta from $110.00 to $101.00 and set an "overweight" rating for the company in a research note on Thursday, March 5th. Finally, Sanford C. Bernstein reiterated an "outperform" rating and issued a $134.00 price target on shares of Okta in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $103.25.
Check Out Our Latest Research Report on Okta
About Okta
(
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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