Key Points
- Okta director Shellye Archambeau sold 2,500 shares on May 18 at an average price of $85.00, totaling $212,500. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Okta’s stock rose 3.9% and opened at $89.04, trading above both its 50-day and 200-day moving averages. The company’s market cap is about $15.75 billion.
- Analysts remain generally constructive on Okta, with Jefferies and Oppenheimer citing possible upside ahead of results, while the stock currently carries a consensus Moderate Buy rating and an average price target of $101.19.
Okta, Inc. (NASDAQ:OKTA - Get Free Report) Director Shellye Archambeau sold 2,500 shares of Okta stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $85.00, for a total value of $212,500.00. Following the completion of the sale, the director owned 9,192 shares of the company's stock, valued at approximately $781,320. The trade was a 21.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Okta Stock Up 3.9%
Shares of OKTA stock opened at $89.04 on Thursday. The stock has a 50-day moving average price of $77.45 and a 200 day moving average price of $82.52. The firm has a market cap of $15.75 billion, a price-to-earnings ratio of 67.97, a PEG ratio of 3.34 and a beta of 0.59. Okta, Inc. has a 12 month low of $62.66 and a 12 month high of $127.52.
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, topping analysts' consensus estimates of $0.85 by $0.05. The firm had revenue of $761.00 million during the quarter, compared to analyst estimates of $749.87 million. Okta had a return on equity of 4.18% and a net margin of 8.05%.The company's revenue was up 11.6% on a year-over-year basis. During the same period last year, the company earned $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. Sell-side analysts predict that Okta, Inc. will post 1.61 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Okta
Institutional investors have recently modified their holdings of the business. Root Financial Partners LLC bought a new position in shares of Okta during the 3rd quarter valued at about $26,000. Elevation Wealth Partners LLC lifted its holdings 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 in the last quarter. SHP Wealth Management bought a new position in shares of Okta during the 4th quarter valued at about $27,000. Torren Management LLC bought a new position in shares of Okta during the 4th quarter valued at about $32,000. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Okta during the 3rd quarter valued at about $34,000. Institutional investors own 86.64% of the company's stock.
Key Headlines Impacting Okta
Here are the key news stories impacting Okta this week:
Analyst Ratings Changes
A number of brokerages have issued reports on OKTA. BMO Capital Markets upgraded Okta from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $83.00 to $97.00 in a report on Friday, March 6th. Sanford C. Bernstein restated an "outperform" rating and set a $134.00 target price on shares of Okta in a report on Friday, March 6th. BTIG Research cut Okta from a "buy" rating to a "hold" rating in a report on Thursday, April 16th. Truist Financial reduced their target price on Okta from $115.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, March 5th. Finally, Berenberg Bank reduced their target price on Okta from $145.00 to $120.00 and set a "buy" rating on the stock in a report on Thursday, March 5th. Twenty-nine research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $101.19.
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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