Eric Robert Kelleher Sells 8,522 Shares of Okta (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) insider Eric Robert Kelleher sold 8,522 shares of Okta stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $92.62, for a total value of $789,307.64. Following the sale, the insider directly owned 9,174 shares of the company’s stock, valued at $849,695.88. This represents a 48.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Tuesday, July 15th, Eric Robert Kelleher sold 16,018 shares of Okta stock. The shares were sold at an average price of $91.81, for a total value of $1,470,612.58.

Okta Stock Down 0.2%

NASDAQ OKTA opened at $92.20 on Wednesday. The stock’s 50-day simple moving average is $93.03 and its two-hundred day simple moving average is $101.57. Okta, Inc. has a twelve month low of $70.92 and a twelve month high of $127.57. The company has a market capitalization of $16.14 billion, a price-to-earnings ratio of 108.47, a PEG ratio of 4.52 and a beta of 0.83.

Okta (NASDAQ:OKTA) last released its quarterly earnings results on Tuesday, August 26th. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.07. Okta had a return on equity of 3.31% and a net margin of 6.08%.The business had revenue of $728,000 billion for the quarter, compared to the consensus estimate of $711.84 million. During the same quarter last year, the business posted $0.72 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. Okta has set its FY 2026 guidance at 3.330-3.380 EPS. Q3 2026 guidance at 0.740-0.750 EPS. On average, equities analysts expect that Okta, Inc. will post 0.42 earnings per share for the current fiscal year.

Institutional Trading of Okta

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Okta by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 17,792,886 shares of the company’s stock worth $1,872,167,000 after purchasing an additional 582,956 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Okta by 52.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company’s stock worth $956,000 after purchasing an additional 4,171 shares in the last quarter. Trek Financial LLC bought a new stake in shares of Okta in the 1st quarter worth approximately $426,000. Merit Financial Group LLC bought a new stake in shares of Okta in the 1st quarter worth approximately $823,000. Finally, Focus Partners Advisor Solutions LLC bought a new stake in shares of Okta in the 1st quarter worth approximately $515,000. 86.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Roth Capital restated a “buy” rating and set a $119.00 price target on shares of Okta in a research report on Wednesday, May 28th. Truist Financial upgraded Okta from a “hold” rating to a “buy” rating and raised their price target for the company from $100.00 to $125.00 in a research report on Monday, August 25th. DA Davidson decreased their price objective on Okta from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, May 28th. Arete Research upgraded Okta to a “strong sell” rating and set a $83.00 price objective on the stock in a report on Monday, July 7th. Finally, Jefferies Financial Group lifted their price objective on Okta from $100.00 to $105.00 and gave the stock a “hold” rating in a report on Wednesday, August 27th. Twenty-two investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Okta currently has an average rating of “Moderate Buy” and a consensus target price of $118.25.

Okta Company Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.