Okta (NASDAQ:OKTA) Director David Schellhase Buys 3,712 Shares

Okta, Inc. (NASDAQ:OKTA) Director David Schellhase purchased 3,712 shares of the stock in a transaction on Thursday, April 16th. The stock was acquired at an average cost of $72.04 per share, for a total transaction of $267,412.48. Following the acquisition, the director owned 3,712 shares in the company, valued at approximately $267,412.48. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Okta Stock Performance

Okta stock opened at $75.76 on Tuesday. The firm’s fifty day moving average price is $77.10 and its 200-day moving average price is $83.92. The stock has a market cap of $13.40 billion, a P/E ratio of 57.83, a price-to-earnings-growth ratio of 2.81 and a beta of 0.76. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $127.57.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data on Wednesday, March 4th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.05. The firm had revenue of $761.00 million for the quarter, compared to analysts’ expectations of $749.87 million. Okta had a net margin of 8.05% and a return on equity of 4.18%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $0.78 EPS. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. On average, analysts predict that Okta, Inc. will post 1.61 earnings per share for the current year.

Okta declared that its Board of Directors has authorized a share buyback plan on Monday, January 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Okta

A number of hedge funds have recently modified their holdings of OKTA. Root Financial Partners LLC purchased a new position in shares of Okta during the third quarter valued at approximately $26,000. Elevation Wealth Partners LLC increased its stake in shares of Okta by 825.0% during the fourth quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after buying an additional 264 shares during the period. SHP Wealth Management purchased a new position in shares of Okta during the fourth quarter valued at approximately $27,000. Torren Management LLC purchased a new position in shares of Okta during the fourth quarter valued at approximately $32,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Okta during the third quarter valued at about $34,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta News Roundup

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Analyst upgrades from Raymond James and Barclays boosted optimism that Okta will capture identity-security spending driven by AI/agentic use cases. Why Okta (OKTA) Stock Is Up Today
• Positive Sentiment: Barclays upgraded OKTA to overweight (PT raised to $90 from $85), citing identity security rising to the top of enterprise spending priorities and a growing “agentic” AI opportunity. Barclays upgrades Okta on identity spending and agentic opportunity
• Positive Sentiment: MarketWatch and CNBC coverage echoed the bullish shift, arguing Okta is one of the few vendors positioned to meet rising identity-security needs as AI agents proliferate — a thematic re-rating that supports higher analyst targets and investor interest. Okta’s stock is surging. Here’s why identity security has become the next hot thing.
• Positive Sentiment: Director David Schellhase purchased 3,712 shares at ~$72.04 under a pre-arranged 10b5‑1 plan, a director buy that investors often treat as a signal of insider confidence. SEC filing — Form 4
• Neutral Sentiment: Context pieces revisiting Q4 cybersecurity earnings (including Okta) assess past results and guidance; these reviews are informative but not the proximate cause of today’s move compared with the analyst upgrades and thematic coverage. A Look Back at Cybersecurity Stocks’ Q4 Earnings

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Truist Financial decreased their target price on shares of Okta from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. JPMorgan Chase & Co. lifted their target price on shares of Okta from $102.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. Wells Fargo & Company assumed coverage on shares of Okta in a research report on Tuesday, March 3rd. They issued an “equal weight” rating and a $76.00 target price on the stock. Seaport Research Partners cut shares of Okta to a “neutral” rating in a research report on Thursday. Finally, KeyCorp decreased their target price on shares of Okta from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. Twenty-nine equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $101.95.

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.