Okta (NASDAQ:OKTA) Insider Eric Robert Kelleher Sells 127 Shares

Okta, Inc. (NASDAQ:OKTA) insider Eric Robert Kelleher sold 127 shares of the company’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $91.40, for a total value of $11,607.80. Following the completion of the transaction, the insider directly owned 11,266 shares in the company, valued at approximately $1,029,712.40. This represents a 1.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, December 18th, Eric Robert Kelleher sold 8,370 shares of Okta stock. The stock was sold at an average price of $90.19, for a total value of $754,890.30.
• 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 Performance

NASDAQ:OKTA opened at $90.94 on Tuesday. Okta, Inc. has a 52 week low of $75.05 and a 52 week high of $127.57. The firm’s 50-day simple moving average is $86.14 and its 200 day simple moving average is $91.53. The firm 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 0.78.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.06. Okta had a net margin of 6.87% and a return on equity of 3.77%. The firm had revenue of $742.00 million during the quarter, compared to the consensus estimate of $730.23 million. During the same quarter in the previous year, the firm posted $0.67 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. Sell-side analysts anticipate that Okta, Inc. will post 0.42 EPS for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on OKTA. Berenberg Bank initiated coverage on Okta in a report on Tuesday, November 18th. They issued a “buy” rating and a $145.00 price objective for the company. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Okta in a research note on Monday, December 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Okta in a research report on Wednesday, October 8th. UBS Group reissued a “buy” rating on shares of Okta in a report on Thursday, December 4th. Finally, Guggenheim restated a “buy” rating and issued a $138.00 target price on shares of Okta in a research report on Wednesday, December 3rd. Twenty-four research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Okta presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.62.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Pinnacle Bancorp Inc. acquired a new position in Okta during the 2nd quarter worth approximately $26,000. Root Financial Partners LLC bought a new stake in shares of Okta during the third quarter worth $26,000. Promus Capital LLC acquired a new position in shares of Okta during the second quarter worth $27,000. Kiker Wealth Management LLC lifted its stake in shares of Okta by 1,159.3% in the 2nd quarter. Kiker Wealth Management LLC now owns 340 shares of the company’s stock valued at $34,000 after acquiring an additional 313 shares during the last quarter. Finally, Cullen Frost Bankers Inc. boosted its holdings in shares of Okta by 88.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 339 shares of the company’s stock valued at $34,000 after acquiring an additional 159 shares in the last quarter. Institutional investors 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.