Okta, Inc. (NASDAQ:OKTA – Get Free Report) insider Eric Robert Kelleher sold 3,977 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $114.10, for a total transaction of $453,775.70. Following the transaction, the insider owned 19,618 shares in the company, valued at approximately $2,238,413.80. The trade was a 16.86% decrease in their ownership of the stock. 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 Wednesday, April 1st, Eric Robert Kelleher sold 2,409 shares of Okta stock. The shares were sold at an average price of $80.00, for a total transaction of $192,720.00.
Okta Price Performance
Shares of OKTA opened at $118.16 on Wednesday. The company has a market cap of $20.54 billion, a PE ratio of 85.62, a price-to-earnings-growth ratio of 4.20 and a beta of 0.80. The firm has a 50-day moving average of $94.64 and a 200-day moving average of $87.58. Okta, Inc. has a one year low of $62.66 and a one year high of $142.35.
Hedge Funds Weigh In On Okta
A number of hedge funds have recently bought and sold shares of OKTA. Spire Wealth Management boosted its stake in shares of Okta by 30.8% during the 4th quarter. Spire Wealth Management now owns 505 shares of the company’s stock valued at $44,000 after purchasing an additional 119 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Okta by 10.7% in the first quarter. EverSource Wealth Advisors LLC now owns 1,333 shares of the company’s stock worth $105,000 after buying an additional 129 shares in the last quarter. Allworth Financial LP lifted its holdings in Okta by 6.4% in the third quarter. Allworth Financial LP now owns 2,251 shares of the company’s stock worth $206,000 after buying an additional 135 shares during the period. Choreo LLC boosted its position in Okta by 2.0% during the 3rd quarter. Choreo LLC now owns 7,239 shares of the company’s stock valued at $664,000 after acquiring an additional 140 shares in the last quarter. Finally, SteelPeak Wealth LLC boosted its position in Okta by 2.8% during the 1st quarter. SteelPeak Wealth LLC now owns 5,166 shares of the company’s stock valued at $407,000 after acquiring an additional 140 shares in the last quarter. 86.64% of the stock is owned by institutional investors.
Okta News Summary
Here are the key news stories impacting Okta this week:
- Positive Sentiment: Okta stockholders approved changes to the company’s 2017 equity plan and endorsed the governance slate at its June 18 annual meeting, removing an overhang and signaling shareholder support. Okta Stockholders Approve Equity Plan Changes, Governance Slate
- Positive Sentiment: Okta expanded its Cross App Access ecosystem to help secure AI agent connections, reinforcing the company’s position in identity and access security as AI adoption grows. Okta expands Cross App Access ecosystem to secure AI agent connections
- Positive Sentiment: Okta announced an AI-security collaboration with Google Cloud aimed at protecting the modern workforce, which could support longer-term enterprise demand and product relevance. Okta teams up with Google Cloud to secure the AI-powered workforce
- Neutral Sentiment: Analyst coverage remained constructive, with Wells Fargo reiterating a Hold rating and broader consensus still around a Moderate Buy, offering no major surprise but helping support sentiment. Wells Fargo Sticks to Their Hold Rating for Okta (OKTA)
- Neutral Sentiment: Okta remains a trending stock on investor watchlists, which can boost trading interest but does not by itself change fundamentals. Here is What to Know Beyond Why Okta, Inc. (OKTA) is a Trending Stock
- Negative Sentiment: Insider Eric Robert Kelleher sold 3,977 shares in a pre-arranged Rule 10b5-1 transaction. While routine, insider selling can still be viewed cautiously by some investors. Eric Robert Kelleher insider sale details
Analyst Upgrades and Downgrades
OKTA has been the topic of a number of research analyst reports. Truist Financial increased their price target on Okta from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Susquehanna upped their price objective on shares of Okta from $80.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Scotiabank increased their price objective on shares of Okta from $80.00 to $105.00 and gave the company a “sector perform” rating in a research report on Friday, May 29th. UBS Group raised their target price on shares of Okta from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Finally, BMO Capital Markets upped their price target on shares of Okta from $95.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Okta presently has a consensus rating of “Moderate Buy” and an average price target of $114.14.
Check Out Our Latest Report on OKTA
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.
Featured Articles
- Five stocks we like better than Okta
- Oracle’s Sell-Off Looks More Like a Mispricing Than a Warning
- Apple’s Intel Deal Arrives at the Right Time for Its Stock
- Liquid Gold: The AI Cooling Retrofit Trade
- 3 Dividend Stocks Under $30 to Anchor Your Portfolio
Receive News & Ratings for Okta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Okta and related companies with MarketBeat.com's FREE daily email newsletter.
