Eric Robert Kelleher Sells 2,410 Shares of Okta (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) insider Eric Robert Kelleher sold 2,410 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $91.73, for a total transaction of $221,069.30. Following the completion of the sale, the insider owned 9,174 shares of the company’s stock, valued at approximately $841,531.02. This represents a 20.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Eric Robert Kelleher also recently made the following trade(s):

• On Thursday, September 18th, Eric Robert Kelleher sold 8,522 shares of Okta stock. The shares were sold at an average price of $92.62, for a total transaction of $789,307.64.
• On Tuesday, July 15th, Eric Robert Kelleher sold 16,018 shares of Okta stock. The shares were sold at an average price of $91.81, for a total transaction of $1,470,612.58.

Okta Trading Down 1.7%

OKTA stock opened at $93.30 on Friday. The stock has a 50-day moving average price of $92.49 and a two-hundred day moving average price of $100.56. The stock has a market cap of $16.33 billion, a PE ratio of 109.76, a price-to-earnings-growth ratio of 4.58 and a beta of 0.84. Okta, Inc. has a 1 year low of $70.92 and a 1 year high of $127.57.

Okta (NASDAQ:OKTA) last released its earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. The firm had revenue of $728,000 billion during the quarter, compared to analysts’ expectations of $711.84 million. Okta had a return on equity of 3.31% and a net margin of 6.08%.The company’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. On average, analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Okta

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Okta by 3.4% during the first quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company’s stock worth $1,872,167,000 after acquiring an additional 582,956 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Okta by 52.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company’s stock worth $956,000 after purchasing an additional 4,171 shares during the period. Trek Financial LLC bought a new position in shares of Okta during the first quarter worth approximately $426,000. Focus Partners Advisor Solutions LLC bought a new position in shares of Okta during the first quarter worth approximately $515,000. Finally, Merit Financial Group LLC bought a new position in shares of Okta during the first quarter worth approximately $823,000. 86.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Jefferies Financial Group increased their target price on Okta from $100.00 to $105.00 and gave the stock a “hold” rating in a report on Wednesday, August 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 target price on shares of Okta in a report on Wednesday, August 27th. Wall Street Zen upgraded Okta from a “hold” rating to a “buy” rating in a report on Sunday, August 3rd. Arete assumed coverage on shares of Okta in a research note on Monday, July 7th. They set a “sell” rating and a $83.00 price objective for the company. Finally, JMP Securities restated a “market perform” rating on shares of Okta in a research note on Wednesday, August 27th. Twenty-two analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $118.94.

About Okta

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.