Todd Mckinnon Sells 11,286 Shares of Okta (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) CEO Todd Mckinnon sold 11,286 shares of the firm’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $90.96, for a total value of $1,026,574.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Okta Stock Down 0.7%

NASDAQ:OKTA opened at $88.40 on Thursday. The firm’s fifty day simple moving average is $86.15 and its 200-day simple moving average is $91.40. The stock has a market cap of $15.67 billion, a PE ratio of 81.10, a price-to-earnings-growth ratio of 4.20 and a beta of 0.77. Okta, Inc. has a fifty-two week low of $75.05 and a fifty-two week high of $127.57.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Tuesday, December 2nd. The company reported $0.82 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $730.23 million. During the same quarter in the previous year, the firm earned $0.67 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. Okta has set its FY 2026 guidance at 3.430-3.440 EPS and its Q4 2026 guidance at 0.840-0.850 EPS. Equities analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current year.

Institutional Investors Weigh In On Okta

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Okta by 5.7% in the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock valued at $1,815,956,000 after buying an additional 1,074,977 shares during the last quarter. First Trust Advisors LP grew its stake in Okta by 9.1% in the 2nd quarter. First Trust Advisors LP now owns 4,901,123 shares of the company’s stock worth $489,966,000 after acquiring an additional 407,087 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Okta by 4.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,635,572 shares of the company’s stock valued at $425,082,000 after acquiring an additional 179,919 shares during the last quarter. Geode Capital Management LLC raised its holdings in Okta by 11.1% in the 2nd quarter. Geode Capital Management LLC now owns 3,155,011 shares of the company’s stock valued at $314,488,000 after acquiring an additional 314,525 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Okta by 76.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,748,847 shares of the company’s stock worth $289,234,000 after purchasing an additional 1,189,222 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on OKTA shares. Stifel Nicolaus reduced their price objective on Okta from $130.00 to $121.00 and set a “buy” rating for the company in a report on Wednesday, December 3rd. Roth Capital reissued a “buy” rating on shares of Okta in a report on Wednesday, December 3rd. Citigroup cut their price target on Okta from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, December 3rd. UBS Group reiterated a “buy” rating on shares of Okta in a research report on Thursday, December 4th. Finally, Susquehanna dropped their target price on shares of Okta from $105.00 to $80.00 and set a “neutral” rating for the company in a report on Wednesday, December 3rd. Twenty-four analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Okta has a consensus rating of “Moderate Buy” and an average price target of $113.62.

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.