Insider Selling: Okta (NASDAQ:OKTA) Insider Sells $754,890.30 in Stock

Okta, Inc. (NASDAQ:OKTA) insider Eric Robert Kelleher sold 8,370 shares of Okta stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $90.19, for a total value of $754,890.30. Following the completion of the transaction, the insider directly owned 11,266 shares of the company’s stock, valued at approximately $1,016,080.54. This represents a 42.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, December 22nd, Eric Robert Kelleher sold 127 shares of Okta stock. The shares were sold at an average price of $91.40, for a total transaction of $11,607.80.
• On Wednesday, October 1st, Eric Robert Kelleher sold 2,410 shares of Okta stock. The stock was sold at an average price of $91.73, for a total transaction of $221,069.30.

Okta Stock Down 0.7%

NASDAQ:OKTA opened at $88.40 on Thursday. The stock has a market cap of $15.67 billion, a price-to-earnings ratio of 81.10, a PEG ratio of 4.20 and a beta of 0.77. The company’s 50 day moving average price is $86.15 and its 200-day moving average price is $91.40. Okta, Inc. has a 52 week low of $75.05 and a 52 week high of $127.57.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.06. Okta had a return on equity of 3.77% and a net margin of 6.87%.The business had revenue of $742.00 million for the quarter, compared to analysts’ expectations of $730.23 million. During the same period in the prior year, the firm posted $0.67 EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. As a group, sell-side analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current year.

Analysts Set New Price Targets

OKTA has been the topic of several research reports. The Goldman Sachs Group dropped their target price on shares of Okta from $137.00 to $117.00 and set a “buy” rating on the stock in a report on Wednesday, December 3rd. Mizuho cut their price objective on Okta from $120.00 to $110.00 and set an “outperform” rating for the company in a report on Monday, November 17th. Berenberg Bank assumed coverage on Okta in a report on Tuesday, November 18th. They issued a “buy” rating and a $145.00 target price on the stock. DA Davidson reissued a “buy” rating and issued a $140.00 target price on shares of Okta in a research report on Wednesday, December 3rd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Okta in a research report on Wednesday, October 8th. Twenty-four analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Okta has a consensus rating of “Moderate Buy” and an average price target of $113.62.

Institutional Investors Weigh In On Okta

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OKTA. Pinnacle Bancorp Inc. bought a new position in shares of Okta in the second quarter worth approximately $26,000. Root Financial Partners LLC purchased a new position in shares of Okta during the 3rd quarter valued at $26,000. Promus Capital LLC bought a new position in Okta in the 2nd quarter worth $27,000. Kiker Wealth Management LLC boosted its holdings in Okta by 1,159.3% in the 2nd quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock worth $34,000 after buying an additional 313 shares during the period. Finally, Cullen Frost Bankers Inc. increased its stake in Okta by 88.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after buying an additional 159 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

About Okta

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.