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

by · The Markets Daily

Okta, Inc. (NASDAQ:OKTA – Get Free Report) insider Eric Robert Kelleher sold 8,370 shares of the business’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $90.19, for a total transaction of $754,890.30. Following the transaction, the insider directly owned 11,266 shares of the company’s stock, valued at approximately $1,016,080.54. This trade represents a 42.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

Okta Stock Up 0.8%

NASDAQ OKTA traded up $0.73 on Monday, reaching $90.94. 2,124,179 shares of the stock traded hands, compared to its average volume of 3,382,818. Okta, Inc. has a 12 month low of $75.05 and a 12 month high of $127.57. The company has a market cap of $16.12 billion, a price-to-earnings ratio of 83.43, a P/E/G ratio of 4.25 and a beta of 0.77. The firm’s fifty day simple moving average is $86.13 and its 200 day simple moving average is $91.62.

Okta (NASDAQ:OKTA – Get Free Report) last released its earnings results on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.76 by $0.06. The business had revenue of $742.00 million during the quarter, compared to analyst estimates of $730.23 million. Okta had a net margin of 6.87% and a return on equity of 3.77%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.67 earnings per share. 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, equities research analysts forecast that Okta, Inc. will post 0.42 EPS for the current fiscal year.

Institutional Trading of Okta

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OKTA. Pinnacle Bancorp Inc. acquired a new stake in shares of Okta in the second quarter valued at $26,000. Root Financial Partners LLC acquired a new stake in Okta in the 3rd quarter valued at about $26,000. Promus Capital LLC acquired a new stake in Okta in the 2nd quarter valued at about $27,000. Kiker Wealth Management LLC raised its stake in shares of Okta by 1,159.3% in the second quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock worth $34,000 after acquiring an additional 313 shares during the last quarter. Finally, Cullen Frost Bankers Inc. lifted its position in shares of Okta by 88.3% during the second quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock worth $34,000 after purchasing an additional 159 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Guggenheim restated a “buy” rating and issued a $138.00 price target on shares of Okta in a research report on Wednesday, December 3rd. Susquehanna cut their target price on shares of Okta from $105.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 3rd. Royal Bank Of Canada reduced their target price on Okta from $115.00 to $97.00 and set an “outperform” rating for the company in a report on Wednesday, December 3rd. UBS Group reiterated a “buy” rating on shares of Okta in a report on Thursday, December 4th. Finally, Weiss Ratings reissued 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 issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $113.62.

Check Out Our Latest Research Report on Okta

About Okta

(Get Free Report)

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.

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