Okta (NASDAQ:OKTA) Insider Larissa Schwartz Sells 2,463 Shares of Stock

Okta, Inc. (NASDAQ:OKTA) insider Larissa Schwartz sold 2,463 shares of Okta stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $120.00, for a total transaction of $295,560.00. Following the completion of the sale, the insider owned 25,241 shares in the company, valued at approximately $3,028,920. This trade represents a 8.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Larissa Schwartz also recently made the following trade(s):

• On Tuesday, June 2nd, Larissa Schwartz sold 24,971 shares of Okta stock. The stock was sold at an average price of $134.13, for a total transaction of $3,349,360.23.
• On Thursday, May 7th, Larissa Schwartz sold 1,054 shares of Okta stock. The shares were sold at an average price of $80.00, for a total transaction of $84,320.00.
• 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 value of $508,565.75.

Okta Trading Up 0.4%

NASDAQ:OKTA opened at $118.58 on Thursday. The stock has a 50 day moving average of $95.70 and a two-hundred day moving average of $87.81. Okta, Inc. has a 12 month low of $62.66 and a 12 month high of $142.35. The firm has a market cap of $20.61 billion, a P/E ratio of 85.93, a price-to-earnings-growth ratio of 4.28 and a beta of 0.80.

Okta (NASDAQ:OKTA) last released its earnings results on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. Okta had a return on equity of 4.15% and a net margin of 8.24%.The business had revenue of $765.00 million for the quarter, compared to the consensus estimate of $751.84 million. During the same quarter last year, the business posted $0.86 earnings per share. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, research analysts forecast that Okta, Inc. will post 1.74 earnings per share for the current year.

Okta News Roundup

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Needham & Company raised its price target on Okta to $140 from $120 and reiterated a Buy rating, signaling continued confidence in upside from current levels.
• Positive Sentiment: Okta expanded its Cross App Access ecosystem to secure AI agent connections, a move that reinforces its role in identity and access management as enterprise AI adoption grows. Okta expands Cross App Access ecosystem to secure AI agent connections
• Positive Sentiment: Shareholders approved changes to Okta’s 2017 equity plan and backed the governance slate at the June 18 annual meeting, removing a potential overhang and suggesting strong shareholder support. Okta Stockholders Approve Equity Plan Changes, Governance Slate
• Neutral Sentiment: Analyst coverage remains constructive overall, with Wells Fargo maintaining a Hold and consensus still sitting at Moderate Buy, which supports sentiment but is not a major surprise. Wells Fargo Sticks to Their Hold Rating for Okta (OKTA)
• Neutral Sentiment: Okta is drawing heavy investor attention as a trending stock, which can lift trading activity but does not by itself change the business outlook. Here is What to Know Beyond Why Okta, Inc. (OKTA) is a Trending Stock
• Negative Sentiment: Insiders Eric Robert Kelleher and Larissa Schwartz sold shares in pre-arranged Rule 10b5-1 transactions; the sales were routine, but insider selling can still make some investors cautious. Eric Robert Kelleher insider sale details

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on OKTA. Needham & Company LLC upped their target price on shares of Okta from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday. Oppenheimer raised their price target on shares of Okta from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Royal Bank Of Canada boosted their price target on shares of Okta from $108.00 to $122.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Wolfe Research started coverage on shares of Okta in a research note on Thursday, April 16th. They set an “outperform” rating for the company. Finally, Seaport Research Partners downgraded shares of Okta to a “neutral” rating in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Okta currently has a consensus rating of “Moderate Buy” and an average price target of $114.71.

Institutional Trading of Okta

Hedge funds and other institutional investors have recently modified their holdings of the stock. Elevation Wealth Partners LLC boosted its position in shares of Okta by 825.0% during the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after acquiring an additional 264 shares during the last quarter. SHP Wealth Management acquired a new stake in Okta during the fourth quarter worth about $27,000. Torren Management LLC purchased a new position in Okta during the fourth quarter worth about $32,000. Aster Capital Management DIFC Ltd purchased a new position in Okta during the third quarter worth about $34,000. Finally, Spire Wealth Management raised its stake in Okta by 30.8% during the fourth quarter. Spire Wealth Management now owns 505 shares of the company’s stock worth $44,000 after purchasing an additional 119 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

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.