Insider Selling: Okta (NASDAQ:OKTA) Insider Sells 1,054 Shares of Stock
by Renee Jackson · The Cerbat GemOkta, Inc. (NASDAQ:OKTA – Get Free Report) insider Larissa Schwartz sold 1,054 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $80.00, for a total value of $84,320.00. Following the sale, the insider owned 48,448 shares in the company, valued at $3,875,840. This trade represents a 2.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Larissa Schwartz also recently made the following trade(s):
- On Wednesday, May 6th, Larissa Schwartz sold 5,323 shares of Okta stock. The shares were sold at an average price of $77.06, for a total transaction of $410,190.38.
- On Tuesday, April 7th, Larissa Schwartz sold 6,377 shares of Okta stock. The stock was sold at an average price of $79.75, for a total transaction of $508,565.75.
- On Tuesday, March 10th, Larissa Schwartz sold 1,836 shares of Okta stock. The stock was sold at an average price of $79.89, for a total transaction of $146,678.04.
Okta Price Performance
OKTA stock traded up $3.02 on Friday, hitting $83.90. 3,745,162 shares of the company were exchanged, compared to its average volume of 3,437,282. The stock has a market capitalization of $14.84 billion, a price-to-earnings ratio of 64.05, a price-to-earnings-growth ratio of 3.02 and a beta of 0.59. Okta, Inc. has a twelve month low of $62.66 and a twelve month high of $127.57. The business’s fifty day moving average is $76.07 and its two-hundred day moving average is $82.86.
Okta (NASDAQ:OKTA – Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.05. The company had revenue of $761.00 million during the quarter, compared to analysts’ expectations of $749.87 million. Okta had a net margin of 8.05% and a return on equity of 4.18%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 EPS. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. Equities research analysts expect that Okta, Inc. will post 1.61 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Okta by 5.7% in the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock worth $1,815,956,000 after acquiring an additional 1,074,977 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Okta by 28.2% in the fourth quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock worth $521,422,000 after acquiring an additional 1,326,051 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Okta by 4.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,635,572 shares of the company’s stock valued at $425,082,000 after purchasing an additional 179,919 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Okta by 71.9% during 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 purchasing an additional 1,485,963 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Okta by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock valued at $281,246,000 after purchasing an additional 57,605 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on OKTA. Scotiabank dropped their target price on Okta from $85.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 5th. Oppenheimer lowered their price objective on shares of Okta from $120.00 to $110.00 and set an “outperform” rating on the stock in a research note on Thursday, March 5th. Wall Street Zen lowered Okta from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Morgan Stanley dropped their price objective on Okta from $110.00 to $101.00 and set an “overweight” rating on the stock in a research note on Thursday, March 5th. Finally, BTIG Research lowered Okta from a “buy” rating to a “hold” rating in a research report on Thursday, April 16th. Twenty-eight analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.89.
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.