Okta (NASDAQ:OKTA) CFO Brett Tighe Sells 41,251 Shares of Stock

Okta, Inc. (NASDAQ:OKTA) CFO Brett Tighe sold 41,251 shares of the business’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $162.44, for a total transaction of $6,700,812.44. Following the completion of the sale, the chief financial officer owned 7,693 shares in the company, valued at $1,249,650.92. This represents a 84.28% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Brett Tighe also recently made the following trade(s):

• On Wednesday, September 2nd, Brett Tighe sold 38,749 shares of Okta stock. The stock was sold at an average price of $159.40, for a total transaction of $6,176,590.60.
• On Monday, June 8th, Brett Tighe sold 65,000 shares of Okta stock. The stock was sold at an average price of $117.25, for a total transaction of $7,621,250.00.

Okta Trading Up 0.1%

OKTA stock traded up $0.18 during trading on Friday, hitting $170.60. 2,339,821 shares of the stock traded hands, compared to its average volume of 3,570,673. Okta, Inc. has a one year low of $62.66 and a one year high of $174.85. The stock has a market cap of $29.65 billion, a price-to-earnings ratio of 102.77, a P/E/G ratio of 5.13 and a beta of 0.79. The company has a 50 day simple moving average of $145.36 and a 200 day simple moving average of $107.94.

Okta (NASDAQ:OKTA) last issued its quarterly earnings data on Wednesday, August 26th. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.09. The firm had revenue of $805.00 million for the quarter, compared to analysts’ expectations of $793.00 million. Okta had a net margin of 9.63% and a return on equity of 4.50%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 earnings per share. 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, analysts predict that Okta, Inc. will post 1.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on OKTA. Berenberg Bank raised their price target on Okta from $120.00 to $135.00 and gave the company a “buy” rating in a report on Friday, May 29th. Mizuho boosted their price objective on Okta from $145.00 to $165.00 and gave the stock a “neutral” rating in a research note on Thursday, August 27th. Arete Research set a $127.00 target price on Okta and gave the stock a “buy” rating in a report on Tuesday, May 26th. BTIG Research raised their target price on Okta from $167.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Finally, Bank of America raised Okta from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $75.00 to $170.00 in a report on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, Okta has a consensus rating of “Moderate Buy” and a consensus target price of $172.92.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System increased its position in shares of Okta by 13,755.2% during the second quarter. California State Teachers Retirement System now owns 36,276,597 shares of the company’s stock worth $4,949,942,000 after acquiring an additional 36,014,770 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Okta by 28.2% during 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 period. Allspring Global Investments Holdings LLC lifted its position in Okta by 71.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock valued at $281,209,000 after acquiring an additional 1,485,963 shares in the last quarter. Geode Capital Management LLC lifted its position in Okta by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock valued at $281,246,000 after acquiring an additional 57,605 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Okta by 2.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,389 shares of the company’s stock worth $215,776,000 after purchasing an additional 69,653 shares during the period. Institutional investors own 86.64% of the company’s stock.

Okta Company Profile

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.