Eric Robert Kelleher Sells 3,977 Shares of Okta (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) insider Eric Robert Kelleher sold 3,977 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $114.10, for a total value of $453,775.70. Following the sale, the insider owned 19,618 shares in the company, valued at approximately $2,238,413.80. This trade represents a 16.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 1st, Eric Robert Kelleher sold 2,409 shares of Okta stock. The shares were sold at an average price of $80.00, for a total value of $192,720.00.

Okta Price Performance

Shares of Okta stock traded up $2.22 on Tuesday, reaching $118.16. 3,157,890 shares of the company were exchanged, compared to its average volume of 3,694,926. The stock’s 50 day moving average price is $93.53 and its 200-day moving average price is $87.35. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $142.35. The company has a market cap of $20.54 billion, a P/E ratio of 85.62, a price-to-earnings-growth ratio of 4.27 and a beta of 0.80.

Okta (NASDAQ:OKTA) last issued its earnings results on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.15%. The firm had revenue of $765.00 million for the quarter, compared to analysts’ expectations of $751.84 million. During the same quarter last year, the company earned $0.86 earnings per share. The firm’s revenue 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. On average, research analysts predict that Okta, Inc. will post 1.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on OKTA shares. Mizuho downgraded shares of Okta from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $110.00 to $125.00 in a research note on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft decreased their price target on Okta from $85.00 to $80.00 and set a “hold” rating for the company in a report on Thursday, March 5th. HSBC raised Okta to a “buy” rating in a research report on Thursday, April 16th. Canaccord Genuity Group increased their price objective on Okta from $95.00 to $115.00 and gave the company a “buy” rating in a report on Friday, May 29th. Finally, Cantor Fitzgerald raised their target price on Okta from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Okta presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.14.

Hedge Funds Weigh In On Okta

Several large investors have recently bought and sold shares of OKTA. Integrated Wealth Concepts LLC purchased a new stake in shares of Okta in the 1st quarter valued at about $225,000. NewEdge Advisors LLC increased its position in Okta by 853.4% during the first quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock worth $582,000 after buying an additional 4,950 shares during the period. Sivia Capital Partners LLC acquired a new position in Okta during the second quarter worth approximately $244,000. Invesco Ltd. lifted its stake in Okta by 34.1% in the second quarter. Invesco Ltd. now owns 430,844 shares of the company’s stock valued at $43,071,000 after buying an additional 109,614 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in Okta by 122.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,621 shares of the company’s stock valued at $162,000 after buying an additional 893 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Company Profile

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.