Okta (NASDAQ:OKTA) CEO Todd Mckinnon Sells 11,263 Shares

Okta, Inc. (NASDAQ:OKTA - Get Free Report) CEO Todd Mckinnon sold 11,263 shares of Okta stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $81.01, for a total value of $912,415.63. Following the transaction, the chief executive officer owned 97,083 shares of the company's stock, valued at $7,864,693.83. This represents a 10.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Okta Trading Up 1.8%

• Okta and CrowdStrike Could Be the Backbone of AI Security

OKTA stock opened at $78.12 on Thursday. Okta, Inc. has a 1-year low of $68.77 and a 1-year high of $127.57. The business's 50 day simple moving average is $82.19 and its 200 day simple moving average is $86.24. The firm has a market capitalization of $13.82 billion, a PE ratio of 59.63, a PEG ratio of 3.00 and a beta of 0.79.

Okta (NASDAQ:OKTA - Get Free Report) last announced its quarterly earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.05. Okta had a return on equity of 4.18% and a net margin of 8.05%.The business had revenue of $761.00 million during the quarter, compared to the consensus estimate of $749.87 million. During the same quarter last year, the firm posted $0.78 EPS. The company's quarterly revenue was up 11.6% on a year-over-year basis. 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, sell-side analysts predict that Okta, Inc. will post 0.42 EPS for the current fiscal year.

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• Okta Earnings Beat, But Growth Questions Remain

Okta declared that its Board of Directors has authorized a stock buyback plan on Monday, January 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

Trending Headlines about Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta reported an earnings beat with revenue growth and set FY‑2027 guidance; management also has a $1.0B share‑repurchase authorization that supports the share base and signals confidence. Okta Earnings Beat, But Growth Questions Remain
• Positive Sentiment: Analyst coverage remains skewed toward Buy: consensus rating is a “Moderate Buy” with a consensus target above current levels, which provides medium‑term support if execution continues. MarketBeat OKTA summary
• Neutral Sentiment: Okta is receiving elevated attention from retail and research readers (Zacks / trending‑stock coverage), which can raise intraday volume and volatility but is not an earnings or product catalyst by itself. Zacks trending stock article
• Neutral Sentiment: Recent short‑interest reports in the feed show anomalous/zero values and NaNs — the published numbers look like a data error, so short‑interest signals are currently ambiguous and shouldn’t be relied on until corrected.
• Negative Sentiment: Insider selling: CEO Todd McKinnon sold 11,263 shares (~$912k at ~$81) and senior exec Eric Kelleher sold 16,818 shares (~$1.35M at $80). Large insider dispositions can spook investors even if for tax/planned reasons. McKinnon SEC filing Kelleher SEC filing
• Negative Sentiment: AI integration news: shares earlier dropped after Anthropic said its Claude assistant can now control computers (simulate keystrokes/mouse). The market viewed that as a potential threat to parts of Okta’s workflow/security positioning, triggering risk‑off pressure. Why Okta Stock Is Nosediving (Yahoo)

Hedge Funds Weigh In On Okta

• After a Brutal Selloff, Are These 3 SaaS Giants About to Bounce?

Several hedge funds and other institutional investors have recently made changes to their positions in OKTA. Vanguard Group Inc. lifted its holdings in shares of Okta by 5.7% during the 3rd quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company's stock worth $1,815,956,000 after acquiring an additional 1,074,977 shares during the period. First Trust Advisors LP boosted its position in shares of Okta by 28.2% during the 4th quarter. First Trust Advisors LP now owns 6,030,090 shares of the company's stock worth $521,422,000 after acquiring an additional 1,326,051 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Okta by 4.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,635,572 shares of the company's stock valued at $425,082,000 after acquiring an additional 179,919 shares during the last quarter. Geode Capital Management LLC raised its position in Okta by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company's stock valued at $281,246,000 after purchasing an additional 57,605 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Okta by 2.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,389 shares of the company's stock valued at $215,776,000 after purchasing an additional 69,653 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OKTA has been the topic of a number of research reports. Cantor Fitzgerald decreased their price target 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. Canaccord Genuity Group cut their price objective on shares of Okta from $120.00 to $95.00 and set a "buy" rating for the company in a research report on Thursday, March 5th. JPMorgan Chase & Co. boosted their price objective on Okta from $102.00 to $103.00 and gave the stock an "overweight" rating in a report on Thursday, March 5th. Citigroup decreased 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. Finally, Susquehanna lowered their target price on Okta from $105.00 to $80.00 and set a "neutral" rating on the stock in a research note on Wednesday, December 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Okta presently has a consensus rating of "Moderate Buy" and a consensus target price of $103.25.

Check Out Our Latest Stock Analysis 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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