Okta, Inc. (NASDAQ:OKTA - Get Free Report) CEO Todd Mckinnon sold 68,936 shares of Okta stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $146.62, for a total value of $10,107,396.32. Following the completion of the sale, the chief executive officer directly owned 38,484 shares in the company, valued at $5,642,524.08. This represents a 64.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Okta Price Performance
Shares of OKTA stock traded down $10.21 during trading hours on Friday, reaching $138.63. 3,366,806 shares of the company's stock were exchanged, compared to its average volume of 3,095,824. The company has a market cap of $24.10 billion, a P/E ratio of 100.46, a price-to-earnings-growth ratio of 5.35 and a beta of 0.77. The company's 50 day moving average is $111.25 and its two-hundred day moving average is $92.00. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $153.20.
Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.06. Okta had a return on equity of 4.15% and a net margin of 8.24%.The firm had revenue of $765.00 million for the quarter, compared to the consensus estimate of $751.84 million. During the same period in the previous year, the business earned $0.86 earnings per share. The company's revenue for the quarter was up 11.2% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. As a group, analysts predict that Okta, Inc. will post 1.75 EPS for the current fiscal year.
Key Headlines Impacting Okta
Here are the key news stories impacting Okta this week:
- Positive Sentiment: KeyBanc raised its price target on Okta to $175 from $130 and kept an overweight rating, reinforcing the bullish analyst case for the stock. Benzinga report on KeyBanc price target increase
- Positive Sentiment: Another report said Okta could benefit from rising AI-driven cyber threats, which may support demand for its identity and security platform. Zacks cybersecurity stocks article
- Positive Sentiment: Brokerage and media coverage also pointed to strong institutional interest and AI-related security demand as supportive themes for Okta shares. FXEmpire article on AI agent security and Okta
- Neutral Sentiment: Recent hedge-fund and institutional filings show mixed positioning, with several large investors adding to Okta while others reduced exposure, suggesting uneven but still meaningful institutional interest.
- Negative Sentiment: CEO Todd McKinnon sold 68,936 shares worth about $10.1 million, trimming his stake significantly, which can weigh on sentiment even though the trade was pre-planned. SEC Form 4 filing
Analyst Ratings Changes
A number of analysts recently commented on the stock. Arete Research set a $127.00 price objective on shares of Okta and gave the stock a "buy" rating in a report on Tuesday, May 26th. Barclays upped their price target on Okta from $93.00 to $120.00 and gave the stock an "overweight" rating in a report on Friday, May 29th. Morgan Stanley began coverage on Okta in a research note on Monday. They set a "neutral" rating for the company. Piper Sandler lifted their price objective on Okta from $82.00 to $105.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Finally, Cantor Fitzgerald upped their price objective on shares of Okta from $110.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $118.97.
View Our Latest Report on OKTA
Institutional Trading of Okta
Several large investors have recently bought and sold shares of the company. Elevation Wealth Partners LLC grew its holdings 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 purchasing an additional 264 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Okta by 279.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 296 shares of the company's stock worth $40,000 after acquiring an additional 218 shares during the period. SHP Wealth Management bought a new stake in shares of Okta in the 4th quarter worth approximately $27,000. Torren Management LLC bought a new stake in Okta in the fourth quarter valued at $32,000. Finally, Spire Wealth Management boosted its stake in Okta by 30.8% during the 4th quarter. Spire Wealth Management now owns 505 shares of the company's stock valued at $44,000 after purchasing an additional 119 shares during the period. Institutional investors and hedge funds 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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