Key Points
- CEO Todd McKinnon sold 48,822 Okta shares for approximately $9.45 million, reducing his direct ownership by about 53%. The transaction was made under a pre-arranged Rule 10b5-1 trading plan.
- Okta exceeded quarterly expectations, reporting $1.05 in earnings per share versus a $0.96 consensus estimate and $805 million in revenue, up 10.6% year over year.
- Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” rating and an average price target of $192.69, though its premium valuation and the need to prove sustained AI-driven growth remain risks.
Okta, Inc. (NASDAQ:OKTA - Get Free Report) CEO Todd McKinnon sold 48,822 shares of the firm's stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $193.48, for a total transaction of $9,446,080.56. Following the transaction, the chief executive officer owned 44,029 shares in the company, valued at approximately $8,518,730.92. This trade represents a 52.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Todd Mckinnon also recently made the following trade(s):
- On Wednesday, July 8th, Todd McKinnon sold 68,936 shares of Okta stock. The shares were sold at an average price of $146.62, for a total transaction of $10,107,396.32.
Okta Stock Performance
NASDAQ OKTA opened at $206.64 on Friday. The firm's fifty day moving average is $157.70 and its two-hundred day moving average is $119.26. Okta, Inc. has a one year low of $62.66 and a one year high of $212.50. The firm has a market cap of $36.12 billion, a PE ratio of 124.48, a P/E/G ratio of 6.12 and a beta of 0.79.
Okta (NASDAQ:OKTA - Get Free Report) last announced its earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.09. Okta had a net margin of 9.63% and a return on equity of 4.50%. The business had revenue of $805.00 million during the quarter, compared to the consensus estimate of $793.00 million. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The business's quarterly revenue was up 10.6% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. Research analysts predict that Okta, Inc. will post 1.92 earnings per share for the current year.
Analysts Set New Price Targets
OKTA has been the subject of several analyst reports. JPMorgan Chase & Co. upped their price target on Okta from $165.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday, August 27th. Weiss Ratings upgraded Okta from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, September 16th. Truist Financial set a $235.00 target price on Okta in a research note on Thursday. Wall Street Zen raised Okta from a "hold" rating to a "buy" rating in a report on Saturday, August 29th. Finally, Roth Capital increased their price objective on Okta from $155.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $192.69.
Check Out Our Latest Research Report on Okta
Key Headlines Impacting Okta
Here are the key news stories impacting Okta this week:
- Positive Sentiment: AI-agent products are driving optimism. At Oktane 2026, Okta highlighted Agent SSO, runtime enforcement, an AI-agent runtime gateway, lifecycle-management tools and an “AI kill switch.” The offerings are intended to govern authentication, access and security for enterprise AI agents, potentially opening a new growth market beyond traditional per-seat identity software. BofA raises Okta price target on AI-agent positioning
- Positive Sentiment: Analysts broadly raised targets. Bank of America lifted its target to $220, while BTIG reaffirmed Buy at $219. Wells Fargo, RBC, DA Davidson and Guggenheim raised targets to $230, $230, $235 and $227, respectively. The revisions reflect expectations for stronger AI-identity adoption and a potential reacceleration in growth. D.A. Davidson raises Okta price target
- Neutral Sentiment: Short-interest data offers little directional signal. Reported short interest was zero shares, implying no measurable days-to-cover; investors should treat the figure cautiously because it does not establish improving fundamentals.
- Negative Sentiment: Valuation and execution risks remain. After a sharp multi-year rally, Okta trades at a premium earnings multiple, leaving the stock vulnerable if AI monetization or growth reacceleration disappoints. Mizuho remains Neutral pending proof that stronger growth can persist, while Jefferies cited customer confusion as an adoption hurdle.
- Negative Sentiment: Insider selling may weigh on sentiment. CEO Todd McKinnon sold 48,822 shares worth approximately $9.45 million, reducing his direct holdings by about 53%. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, which limits its significance, but it still represents a potential overhang. SEC filing for Todd McKinnon stock sale
Institutional Trading of Okta
Institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in Okta in the 4th quarter valued at about $175,193,000. Allspring Global Investments Holdings LLC raised 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 valued at $281,209,000 after buying an additional 1,485,963 shares during the last quarter. Pictet Asset Management Holding SA lifted its stake in shares of Okta by 28.4% during the first quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company's stock valued at $195,844,000 after buying an additional 550,328 shares during the period. Jupiter Asset Management Ltd. boosted its position in Okta by 2,982.2% during the fourth quarter. Jupiter Asset Management Ltd. now owns 514,449 shares of the company's stock worth $44,484,000 after acquiring an additional 497,758 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its stake in shares of Okta by 114.3% during the 1st quarter. Quantinno Capital Management LP now owns 746,009 shares of the company's stock worth $58,718,000 after purchasing an additional 397,951 shares during the period. 86.64% of the stock is currently owned by hedge funds and other institutional investors.
About Okta
(
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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