Okta (NASDAQ:OKTA) Insider Eric Robert Kelleher Sells 16,818 Shares
by Doug Wharley · The Cerbat GemOkta, Inc. (NASDAQ:OKTA – Get Free Report) insider Eric Robert Kelleher sold 16,818 shares of the stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $80.00, for a total value of $1,345,440.00. Following the transaction, the insider directly owned 15,470 shares of the company’s stock, valued at $1,237,600. This trade represents a 52.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Eric Robert Kelleher also recently made the following trade(s):
- On Friday, January 2nd, Eric Robert Kelleher sold 2,409 shares of Okta stock. The stock was sold at an average price of $84.40, for a total value of $203,319.60.
Okta Trading Up 3.4%
Shares of Okta stock traded up $2.69 on Monday, reaching $81.10. 2,846,965 shares of the company were exchanged, compared to its average volume of 3,231,472. Okta, Inc. has a one year low of $68.77 and a one year high of $127.57. The company has a market capitalization of $14.35 billion, a price-to-earnings ratio of 61.91, a PEG ratio of 3.07 and a beta of 0.79. The company has a 50-day moving average of $83.09 and a 200 day moving average of $86.46.
Okta (NASDAQ:OKTA – Get Free Report) last released its earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.05. The business 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 firm’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the business earned $0.78 earnings per share. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. Analysts predict that Okta, Inc. will post 0.42 earnings per share for the current year.
Okta announced that its Board of Directors has initiated a share buyback plan on Monday, January 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. BTIG Research reduced their price target on Okta from $116.00 to $90.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $134.00 price objective on shares of Okta in a research report on Friday, March 6th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Okta in a research note on Thursday, January 22nd. Barclays decreased their target price on Okta from $95.00 to $85.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 24th. Finally, Canaccord Genuity Group dropped their price target on Okta from $120.00 to $95.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.25.
Read Our Latest Research Report on Okta
Institutional Trading of Okta
Several hedge funds and other institutional investors have recently bought and sold shares of OKTA. Promus Capital LLC bought a new position in shares of Okta during the second quarter worth approximately $27,000. Root Financial Partners LLC acquired a new stake in Okta during the third quarter worth approximately $26,000. Elevation Wealth Partners LLC grew its position in Okta by 825.0% during the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock worth $26,000 after buying an additional 264 shares in the last quarter. SHP Wealth Management bought a new position in Okta during the 4th quarter worth $27,000. Finally, Torren Management LLC acquired a new position in Okta in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 86.64% of the company’s stock.
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.