Eric Robert Kelleher Sells 2,409 Shares of Okta (NASDAQ:OKTA) Stock

Okta, Inc. (NASDAQ:OKTA) insider Eric Robert Kelleher sold 2,409 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $80.00, for a total transaction of $192,720.00. Following the completion of the transaction, the insider directly owned 15,470 shares of the company’s stock, valued at $1,237,600. The trade was a 13.47% decrease in their position. The sale was disclosed in a legal 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.

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

• On Thursday, March 19th, Eric Robert Kelleher sold 16,818 shares of Okta stock. The shares were sold at an average price of $80.00, for a total transaction of $1,345,440.00.

Okta Price Performance

Okta stock opened at $80.19 on Friday. The stock has a market capitalization of $14.18 billion, a P/E ratio of 61.21, a P/E/G ratio of 3.14 and a beta of 0.76. Okta, Inc. has a 12-month low of $68.77 and a 12-month high of $127.57. The firm’s 50-day moving average is $80.52 and its two-hundred day moving average is $85.58.

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 analysts’ consensus estimates of $0.85 by $0.05. Okta had a net margin of 8.05% and a return on equity of 4.18%. The business had revenue of $761.00 million during the quarter, compared to analyst estimates of $749.87 million. During the same quarter in the previous year, the business posted $0.78 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. As a group, analysts forecast that Okta, Inc. will post 0.42 EPS for the current year.

Okta declared that its Board of Directors has authorized a stock buyback plan on Monday, January 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Okta News Summary

Here are the key news stories impacting Okta this week:

• Positive Sentiment: Okta’s CEO outlined an AI-agent “kill switch” and tighter access controls, pitching Okta as a required security layer for enterprises adopting AI — a message that supports upside in identity/security demand. Okta Ties AI Agent Kill Switch To Identity Valuation Opportunity
• Positive Sentiment: TV market commentator Jim Cramer publicly said he “would be a buyer of Okta,” which can spur retail interest and support sentiment in the near term. Jim Cramer Says He “Would Be a Buyer of Okta”
• Neutral Sentiment: Analyst/market pieces note OKTA is slightly up since last earnings and discuss forward estimates — useful context but not new fundamental data. These pieces reinforce attention on guidance and execution. Okta (OKTA) Up 0.7% Since Last Earnings Report: Can It Continue?
• Neutral Sentiment: Market writeups highlighted a modest intraday gain and that OKTA is trading below its 200‑day average — signals of mixed technical momentum rather than a catalyst. Okta (OKTA) Laps the Stock Market: Here’s Why
• Neutral Sentiment: Weakness in cybersecurity peers (Palo Alto Networks, CrowdStrike) has drawn headlines; this can create sector volatility that affects Okta sentiment even if Okta’s own fundamentals differ. Palo Alto Networks Plunges 12% in 3 Months
• Negative Sentiment: Insider Eric Kelleher sold 2,409 shares at about $80 under a pre‑arranged Rule 10b5‑1 plan; the sale reduces his holding by ~13.5%. It’s disclosed and routine, but some investors view insider selling as a short‑term negative signal. Insider Sale — Eric Robert Kelleher

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Okta by 5.7% during the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock valued at $1,815,956,000 after acquiring an additional 1,074,977 shares during the period. First Trust Advisors LP increased its stake in 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 last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Okta by 4.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,635,572 shares of the company’s stock worth $425,082,000 after purchasing an additional 179,919 shares during the period. Geode Capital Management LLC lifted its stake in shares of 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 purchasing an additional 57,605 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of 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 valued at $215,776,000 after purchasing an additional 69,653 shares in the last quarter. 86.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on OKTA shares. Canaccord Genuity Group lowered their price objective on Okta from $120.00 to $95.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Truist Financial reduced their target price on 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. raised their price target on Okta from $102.00 to $103.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Wells Fargo & Company started coverage on Okta in a report on Tuesday, March 3rd. They issued an “equal weight” rating and a $76.00 price target for the company. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Okta in a research note on Thursday, January 22nd. Twenty-six research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $103.25.

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.