Larissa Schwartz Sells 2,463 Shares of Okta (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA - Get Free Report) insider Larissa Schwartz sold 2,463 shares of the company's stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $120.00, for a total value of $295,560.00. Following the completion of the transaction, the insider owned 25,241 shares in the company, valued at $3,028,920. This represents a 8.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

• Okta’s AI Moment May Be Bigger Than Investors Realize

Larissa Schwartz also recently made the following trade(s):

• On Tuesday, June 2nd, Larissa Schwartz sold 24,971 shares of Okta stock. The stock was sold at an average price of $134.13, for a total value of $3,349,360.23.
• On Thursday, May 7th, Larissa Schwartz sold 1,054 shares of Okta stock. The stock was sold at an average price of $80.00, for a total value of $84,320.00.
• On Wednesday, May 6th, Larissa Schwartz sold 5,323 shares of Okta stock. The shares were sold at an average price of $77.06, for a total value of $410,190.38.
• On Tuesday, April 7th, Larissa Schwartz sold 6,377 shares of Okta stock. The shares were sold at an average price of $79.75, for a total value of $508,565.75.

Okta Trading Up 0.4%

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NASDAQ OKTA opened at $118.58 on Thursday. The stock has a market cap of $20.61 billion, a PE ratio of 85.93, a P/E/G ratio of 4.28 and a beta of 0.80. Okta, Inc. has a twelve month low of $62.66 and a twelve month high of $142.35. The stock has a fifty day simple moving average of $95.70 and a 200-day simple moving average of $87.81.

• Cybersecurity Earnings: 1 AI Standout and 2 Stocks Under Pressure

Okta (NASDAQ:OKTA - Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.15%. The firm had revenue of $765.00 million for the quarter, compared to analyst estimates of $751.84 million. During the same period in the previous year, the firm earned $0.86 EPS. Okta's revenue was up 11.2% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. Research analysts predict that Okta, Inc. will post 1.74 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Spire Wealth Management increased its stake in Okta by 30.8% during the 4th 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. EverSource Wealth Advisors LLC boosted its position in Okta by 10.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,333 shares of the company's stock valued at $105,000 after buying an additional 129 shares during the period. Allworth Financial LP boosted its position in Okta by 6.4% in the 3rd quarter. Allworth Financial LP now owns 2,251 shares of the company's stock valued at $206,000 after buying an additional 135 shares during the period. Choreo LLC grew its stake in shares of Okta by 2.0% in the third quarter. Choreo LLC now owns 7,239 shares of the company's stock worth $664,000 after acquiring an additional 140 shares in the last quarter. Finally, SteelPeak Wealth LLC grew its stake in shares of Okta by 2.8% in the first quarter. SteelPeak Wealth LLC now owns 5,166 shares of the company's stock worth $407,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company's stock.

Key Stories Impacting Okta

• Okta and CrowdStrike Could Be the Backbone of AI Security

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Needham & Company raised its price target on Okta to $140 from $120 and reiterated a Buy rating, signaling continued confidence in upside from current levels.
• Positive Sentiment: Okta expanded its Cross App Access ecosystem to secure AI agent connections, a move that reinforces its role in identity and access management as enterprise AI adoption grows. Okta expands Cross App Access ecosystem to secure AI agent connections
• Positive Sentiment: Shareholders approved changes to Okta’s 2017 equity plan and backed the governance slate at the June 18 annual meeting, removing a potential overhang and suggesting strong shareholder support. Okta Stockholders Approve Equity Plan Changes, Governance Slate
• Neutral Sentiment: Analyst coverage remains constructive overall, with Wells Fargo maintaining a Hold and consensus still sitting at Moderate Buy, which supports sentiment but is not a major surprise. Wells Fargo Sticks to Their Hold Rating for Okta (OKTA)
• Neutral Sentiment: Okta is drawing heavy investor attention as a trending stock, which can lift trading activity but does not by itself change the business outlook. Here is What to Know Beyond Why Okta, Inc. (OKTA) is a Trending Stock
• Negative Sentiment: Insiders Eric Robert Kelleher and Larissa Schwartz sold shares in pre-arranged Rule 10b5-1 transactions; the sales were routine, but insider selling can still make some investors cautious. Eric Robert Kelleher insider sale details

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada increased their price objective on shares of Okta from $108.00 to $122.00 and gave the stock an "outperform" rating in a research report on Friday, May 29th. Sanford C. Bernstein reissued an "outperform" rating and issued a $134.00 target price on shares of Okta in a research report on Friday, March 6th. Mizuho cut Okta from an "outperform" rating to a "neutral" rating and upped their price target for the stock from $110.00 to $125.00 in a research note on Tuesday, June 2nd. Susquehanna raised their price target on Okta from $80.00 to $110.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Finally, Piper Sandler lifted their price objective on Okta from $82.00 to $105.00 and gave the company a "neutral" rating in a research note on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Okta has a consensus rating of "Moderate Buy" and a consensus price target of $114.71.

Get Our Latest Research Report on OKTA

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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