Insider Selling: Okta (NASDAQ:OKTA) Insider Sells 2,549 Shares of Stock

Okta, Inc. (NASDAQ:OKTA) 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 sale, the insider owned 17,069 shares of the company’s stock, valued at approximately $2,876,979.95. This trade represents a 12.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 Stock Up 2.1%

NASDAQ:OKTA traded up $4.00 on Tuesday, hitting $190.45. The stock had a trading volume of 3,921,941 shares, compared to its average volume of 3,584,710. The business’s 50-day simple moving average is $150.19 and its two-hundred day simple moving average is $112.56. The stock has a market cap of $33.29 billion, a price-to-earnings ratio of 114.73, a price-to-earnings-growth ratio of 5.18 and a beta of 0.79. Okta, Inc. has a 52-week low of $62.66 and a 52-week high of $191.99.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, beating 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 firm had revenue of $805.00 million during the quarter, compared to analyst estimates of $793.00 million. During the same quarter in the prior year, the firm earned $0.91 EPS. The business’s revenue for the quarter 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. As a group, equities research analysts anticipate that Okta, Inc. will post 1.92 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Royal Bank Of Canada raised their target price on Okta from $166.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. KeyCorp boosted their price target on Okta from $180.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, August 27th. BTIG Research upped their price target on Okta from $167.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Evercore reaffirmed an “outperform” rating and issued a $185.00 price objective on shares of Okta in a research note on Thursday, August 27th. Finally, Oppenheimer lifted their price objective on Okta from $170.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. One analyst has rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $173.45.

Key Stories Impacting Okta

Here are the key news stories impacting Okta this week:

• Positive Sentiment: CEO Todd McKinnon argued that companies should not slow the development of advanced AI because cyber threat actors are not pausing. His comments reinforce the investment case that wider enterprise AI adoption will increase demand for identity protection, access controls and cybersecurity services. Okta CEO cautions against AI downshift
• Positive Sentiment: McKinnon also said AI may be significantly overestimated as a risk to humanity. While not a direct business update, the relatively constructive view could support continued AI investment and, indirectly, spending on the security infrastructure needed to deploy it safely. Okta CEO discusses AI risk
• Positive Sentiment: Cybersecurity stocks, including Okta, are participating in a second-day rally as investors anticipate that enterprise AI adoption will create additional security requirements. The broader sector momentum is helping lift OKTA despite limited company-specific news. Cybersecurity stocks rally on AI security demand
• Neutral Sentiment: Okta will webcast its Oktane opening keynote and Investor Summit on September 23. Investors may look for updates on strategy, AI initiatives and financial targets, making the event a potential near-term catalyst. Okta Investor Summit webcast announcement
• Negative Sentiment: Analysts noted that the rally was not triggered by a material change to Okta’s revenue outlook or guidance. With the stock near a one-year high and trading at a rich valuation, the shares could be vulnerable if AI enthusiasm fades or the investor event lacks new financial catalysts. What lifted Okta stock to a one-year high

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of OKTA. Junto Capital Management LP purchased a new stake in Okta in the 2nd quarter worth $45,486,000. National Pension Service lifted its position in shares of Okta by 23.2% in the second quarter. National Pension Service now owns 43,893 shares of the company’s stock valued at $5,989,000 after acquiring an additional 8,257 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Okta by 521.5% in the second quarter. NewEdge Advisors LLC now owns 2,828 shares of the company’s stock valued at $386,000 after acquiring an additional 2,373 shares in the last quarter. GFG Capital LLC boosted its stake in shares of Okta by 12.0% in the second quarter. GFG Capital LLC now owns 33,971 shares of the company’s stock worth $4,635,000 after acquiring an additional 3,639 shares during the period. Finally, Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD bought a new position in shares of Okta in the second quarter worth about $3,444,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

About Okta

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.