Key Points
- Okta insider Eric Robert Kelleher sold 3,977 shares on June 18 at an average price of $114.10, generating about $453,776. The sale was made under a pre-arranged Rule 10b5-1 plan, and his remaining stake was 19,618 shares.
- Okta’s recent earnings beat expectations, reporting $0.91 EPS versus the $0.85 estimate and revenue of $765 million versus $751.84 million expected. Quarterly revenue rose 11.2% year over year, and the company issued FY2027 and Q2 2027 guidance.
- Analyst sentiment remains generally positive, with a consensus rating of Moderate Buy and an average price target of $114.14. Recent updates included a mix of target raises and rating downgrades, reflecting some caution despite strong coverage.
Okta, Inc. (NASDAQ:OKTA - Get Free Report) insider Eric Robert Kelleher sold 3,977 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $114.10, for a total value of $453,775.70. Following the completion of the transaction, the insider owned 19,618 shares of the company's stock, valued at approximately $2,238,413.80. This trade represents a 16.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Eric Robert Kelleher also recently made the following trade(s):
- On Wednesday, April 1st, Eric Robert Kelleher sold 2,409 shares of Okta stock. The shares were sold at an average price of $80.00, for a total transaction of $192,720.00.
Okta Price Performance
Shares of Okta stock opened at $118.16 on Wednesday. The company has a 50-day moving average of $94.64 and a 200 day moving average of $87.58. The firm has a market cap of $20.54 billion, a price-to-earnings ratio of 85.62, a PEG ratio of 4.20 and a beta of 0.80. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $142.35.
Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.85 by $0.06. The business had revenue of $765.00 million for the quarter, compared to analyst estimates of $751.84 million. Okta had a net margin of 8.24% and a return on equity of 4.15%. Okta's quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 earnings per share. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, equities analysts anticipate that Okta, Inc. will post 1.74 EPS for the current year.
Wall Street Analyst Weigh In
OKTA has been the subject of a number of analyst reports. Needham & Company LLC raised their price objective on Okta from $90.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, May 29th. Mizuho lowered Okta from an "outperform" rating to a "neutral" rating and lifted their price target for the stock from $110.00 to $125.00 in a research report on Tuesday, June 2nd. Wall Street Zen downgraded shares of Okta from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. TD Cowen reduced their price objective on shares of Okta from $115.00 to $105.00 and set a "hold" rating for the company in a research note on Tuesday, February 24th. Finally, Zacks Research downgraded shares of Okta from a "strong-buy" rating to a "hold" rating in a research note on Thursday, March 26th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Okta presently has a consensus rating of "Moderate Buy" and an average target price of $114.14.
Get Our Latest Research Report on Okta
Key Okta News
Here are the key news stories impacting Okta this week:
- Positive Sentiment: Okta stockholders approved changes to the company’s 2017 equity plan and endorsed the governance slate at its June 18 annual meeting, removing an overhang and signaling shareholder support. Okta Stockholders Approve Equity Plan Changes, Governance Slate
- Positive Sentiment: Okta expanded its Cross App Access ecosystem to help secure AI agent connections, reinforcing the company’s position in identity and access security as AI adoption grows. Okta expands Cross App Access ecosystem to secure AI agent connections
- Positive Sentiment: Okta announced an AI-security collaboration with Google Cloud aimed at protecting the modern workforce, which could support longer-term enterprise demand and product relevance. Okta teams up with Google Cloud to secure the AI-powered workforce
- Neutral Sentiment: Analyst coverage remained constructive, with Wells Fargo reiterating a Hold rating and broader consensus still around a Moderate Buy, offering no major surprise but helping support sentiment. Wells Fargo Sticks to Their Hold Rating for Okta (OKTA)
- Neutral Sentiment: Okta remains a trending stock on investor watchlists, which can boost trading interest but does not by itself change fundamentals. Here is What to Know Beyond Why Okta, Inc. (OKTA) is a Trending Stock
- Negative Sentiment: Insider Eric Robert Kelleher sold 3,977 shares in a pre-arranged Rule 10b5-1 transaction. While routine, insider selling can still be viewed cautiously by some investors. Eric Robert Kelleher insider sale details
Institutional Investors Weigh In On Okta
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Elevation Wealth Partners LLC raised its stake in 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 buying an additional 264 shares during the last quarter. SHP Wealth Management purchased a new position in shares of Okta in the 4th quarter worth $27,000. Torren Management LLC bought a new stake in shares of Okta in the fourth quarter worth $32,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Okta in the third quarter worth $34,000. Finally, Spire Wealth Management increased its position in Okta by 30.8% during the fourth quarter. Spire Wealth Management now owns 505 shares of the company's stock valued at $44,000 after acquiring an additional 119 shares during the last quarter. Hedge funds and other 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.
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