Eric Robert Kelleher Sells 6,395 Shares of Okta (NASDAQ:OKTA) Stock

by · The Markets Daily

Okta, Inc. (NASDAQ:OKTA – Get Free Report) insider Eric Kelleher sold 6,395 shares of the business’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $183.58, for a total transaction of $1,173,994.10. Following the sale, the insider owned 18,668 shares in the company, valued at $3,427,071.44. The trade was a 25.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

  • On Friday, September 11th, Eric Kelleher sold 2,549 shares of Okta stock. The shares were sold at an average price of $168.55, for a total transaction of $429,633.95.

Okta Price Performance

OKTA traded up $5.29 during trading on Tuesday, reaching $196.62. 5,130,759 shares of the stock were exchanged, compared to its average volume of 3,607,229. The business’s 50 day moving average price is $154.59 and its two-hundred day moving average price is $116.61. The company has a market capitalization of $34.37 billion, a price-to-earnings ratio of 118.45, a P/E/G ratio of 5.67 and a beta of 0.79. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $198.09.

Okta (NASDAQ:OKTA – Get Free Report) last released its quarterly earnings results on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.96 by $0.09. The business had revenue of $805.00 million for the quarter, compared to analyst estimates of $793.00 million. Okta had a net margin of 9.63% and a return on equity of 4.50%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 earnings per share. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. On average, analysts anticipate that Okta, Inc. will post 1.92 EPS for the current year.

Hedge Funds Weigh In On Okta

Several large investors have recently added to or reduced their stakes in OKTA. Geode Capital Management LLC grew its position in shares of Okta by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock worth $281,246,000 after acquiring an additional 57,605 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Okta by 71.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock valued at $281,209,000 after purchasing an additional 1,485,963 shares during the period. Pictet Asset Management Holding SA grew its position in Okta by 28.4% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company’s stock worth $195,844,000 after purchasing an additional 550,328 shares during the last quarter. Norges Bank bought a new stake in shares of Okta during the fourth quarter valued at approximately $175,193,000. Finally, Swedbank AB boosted its position in shares of Okta by 21.9% during the first quarter. Swedbank AB now owns 2,216,588 shares of the company’s stock worth $174,468,000 after buying an additional 397,507 shares during the period. 86.64% of the stock is currently owned by institutional investors.

Key Headlines Impacting Okta

Here are the key news stories impacting Okta this week:

  • Positive Sentiment: AI security product expansion: Okta introduced an AI agent runtime gateway and announced the Blueprint Alliance with AWS and CrowdStrike. The initiative is intended to provide a shared architecture for controlling agent identities, permissions and interactions across enterprise systems. Okta adds AI agent runtime gateway, forms Blueprint Alliance with AWS and CrowdStrike
  • Positive Sentiment: Potential new growth market: Coverage of Okta’s expanded AI-agent controls suggests the company is positioning itself as a “gatekeeper” for agent identity and access, potentially extending its addressable market beyond traditional workforce and customer security. Okta expands AI agent controls
  • Positive Sentiment: Wall Street support: Needham raised its price target to $230 and kept a Buy rating, while Robert W. Baird lifted its target to $200 with an Outperform rating. Analysts cited AI-agent traction and the potential for Okta to monetize agent governance. Needham raises Okta price target
  • Positive Sentiment: Partner ecosystem validation: Aembit added support for Okta’s Cross App Access protocol, extending Okta-based identity authorization to AI-agent connections and strengthening adoption prospects. Aembit launches support for Okta Cross App Access
  • Neutral Sentiment: Oktane 2026 begins in Las Vegas, with investors watching for additional AI security announcements, product details and evidence of customer demand. Okta Oktane 2026 preview
  • Negative Sentiment: Valuation and execution risks remain. Okta trades near its 52-week high at a premium valuation, while some coverage notes that the financial payoff from AI security remains unproven. Scotiabank raised its target to $190 but retained a Sector Outperform rating, leaving its target below the current trading level.

Wall Street Analyst Weigh In

OKTA has been the topic of a number of research reports. Susquehanna raised their target price on shares of Okta from $110.00 to $185.00 and gave the company a “neutral” rating in a research note on Friday, August 28th. Citizens Jmp lifted their price objective on shares of Okta from $170.00 to $180.00 and gave the company a “market outperform” rating in a research note on Thursday, August 27th. Royal Bank Of Canada boosted their price objective on shares of Okta from $166.00 to $195.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Wall Street Zen upgraded Okta from a “hold” rating to a “buy” rating in a research note on Saturday, August 29th. Finally, Roth Capital restated a “buy” rating on shares of Okta in a report on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $177.61.

View Our Latest Report on OKTA

Okta Company Profile

(Get Free Report)

Okta, Inc provides cloud-based identity and access management solutions for organizations. Its platform helps businesses securely connect employees, customers, partners and applications while managing authentication, authorization and user access across cloud, on-premises and mobile environments.

The company’s offerings include single sign-on, multifactor authentication, adaptive access controls, lifecycle management, identity governance and privileged access capabilities. Through its Customer Identity Cloud, powered by Auth0, Okta also provides tools for developers and businesses to embed authentication and authorization features into applications and digital services.

Founded in 2009 by Todd McKinnon and Frederic Kerrest, Okta completed its initial public offering in 2017.

See Also