Key Points
- Okta insider Eric Kelleher sold 2,549 shares for approximately $429,634 under a pre-arranged Rule 10b5-1 plan, reducing his direct ownership by 12.99%.
- Okta exceeded quarterly expectations with $1.05 EPS versus the $0.96 estimate and $805 million in revenue, up 10.6% year over year.
- Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $173.45; AI-driven cybersecurity demand is also supporting investor interest.
Okta, Inc. (NASDAQ:OKTA - Get Free Report) insider Eric Kelleher sold 2,549 shares of the company's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $168.55, for a total value of $429,633.95. Following the transaction, the insider directly owned 17,069 shares in the company, valued at $2,876,979.95. The trade was a 12.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 Thursday, June 18th, Eric Kelleher sold 3,977 shares of Okta stock. The stock was sold at an average price of $114.10, for a total value of $453,775.70.
Okta Price Performance
NASDAQ:OKTA opened at $190.45 on Wednesday. The stock has a market cap of $33.29 billion, a PE ratio of 114.73, a price-to-earnings-growth ratio of 5.80 and a beta of 0.79. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $191.99. The stock's 50-day moving average is $151.03 and its two-hundred day moving average is $113.38.
Okta (NASDAQ:OKTA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.09. The business had revenue of $805.00 million during the quarter, compared to analyst estimates of $793.00 million. Okta had a net margin of 9.63% and a return on equity of 4.50%. The firm's revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. On average, equities research analysts anticipate that Okta, Inc. will post 1.92 earnings per share for the current year.
Key Stories Impacting Okta
Here are the key news stories impacting Okta this week:
- Positive Sentiment: AI-related cybersecurity demand is supporting the stock. Investors are betting that broader use of AI will increase the need for identity protection, access controls and security spending. Okta CEO Todd McKinnon argued that slowing AI development could worsen cybersecurity risks because threat actors are not pausing. Okta CEO cautions against AI downshift
- Positive Sentiment: Okta is participating in a broader cybersecurity rally. The company’s shares moved higher alongside CrowdStrike and other enterprise security names as investors repriced the potential security spending associated with AI adoption. Cybersecurity stocks rally on AI security demand
- Neutral Sentiment: Upcoming investor presentations could provide a catalyst. Okta will webcast its Oktane opening keynote and investor summit on September 23. Investors may look for updates on product strategy, AI opportunities, demand trends and financial guidance, although no new outlook was announced. Okta to host investor summit webcast
- Negative Sentiment: An insider sold shares. Director Eric Kelleher sold 2,549 shares for approximately $429,634, reducing his ownership by 12.99%. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, which reduces its significance as a discretionary bearish signal, but it may still weigh modestly on sentiment.
Analysts Set New Price Targets
Several equities analysts have recently commented on OKTA shares. Needham & Company LLC boosted their price target on shares of Okta from $140.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, August 27th. Bank of America upgraded Okta from an "underperform" rating to a "neutral" rating and increased their price objective for the stock from $75.00 to $170.00 in a report on Thursday, August 27th. UBS Group lifted their price objective on Okta from $150.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, August 27th. Mizuho boosted their target price on Okta from $145.00 to $165.00 and gave the company a "neutral" rating in a research note on Thursday, August 27th. Finally, Evercore reaffirmed an "outperform" rating and issued a $185.00 target price on shares of Okta in a research report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $173.45.
Get Our Latest Stock Analysis on OKTA
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in Okta by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company's stock worth $281,246,000 after purchasing an additional 57,605 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Okta by 71.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company's stock worth $281,209,000 after buying an additional 1,485,963 shares during the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Okta by 28.4% in the first quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company's stock worth $195,844,000 after buying an additional 550,328 shares during the last quarter. Norges Bank bought a new stake in shares of Okta during the 4th quarter worth about $175,193,000. Finally, Swedbank AB increased its holdings in shares of Okta by 21.9% during the 1st quarter. Swedbank AB now owns 2,216,588 shares of the company's stock valued at $174,468,000 after acquiring an additional 397,507 shares during the last quarter. Institutional investors own 86.64% of the company's stock.
Okta Company Profile
(
Get Free Report)
Okta, Inc provides cloud-based identity and access management solutions for organizations. Its platform helps businesses securely connect employees, customers, partners and applications while managing authentication, authorization and user access across cloud, on-premises and mobile environments.
The company's offerings include single sign-on, multifactor authentication, adaptive access controls, lifecycle management, identity governance and privileged access capabilities. Through its Customer Identity Cloud, powered by Auth0, Okta also provides tools for developers and businesses to embed authentication and authorization features into applications and digital services.
Founded in 2009 by Todd McKinnon and Frederic Kerrest, Okta completed its initial public offering in 2017.
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