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Okta, Inc. (NASDAQ:OKTA) Chief Executive Officer Todd McKinnon sold a total of 31,592 shares of Class A Common Stock on July 21, 2025, for approximately $3 million. The sales were executed in multiple transactions with prices ranging from $94.285 to $95.99 per share. According to InvestingPro data, Okta currently trades at $95.63, with 41 analysts actively covering the stock and maintaining a positive outlook. The company, valued at $16.7 billion, shows strong financial health with impressive gross profit margins of ~77%.
McKinnon sold 11,482 shares at a weighted average price of $94.9793, totaling approximately $1.09 million. An additional 20,110 shares were sold at a weighted average price of $95.4807, amounting to $1.92 million. InvestingPro analysis suggests the stock is currently undervalued, with multiple positive indicators available in the comprehensive Pro Research Report.
On the same day, McKinnon also exercised options to acquire 5,438 shares of Class A Common Stock at a price of $39.21, for a total value of $213,223. These options were related to Employee Stock Options with an expiration date of March 21, 2028. Additionally, the CEO exercised options to acquire 47,000 shares of Class B Common Stock at a price of $8.97.
Following these transactions, McKinnon directly owns 40,792 shares of Okta’s Class A Common Stock.
In other recent news, Okta has reported several significant developments. The company announced its quarterly results, highlighting a 14% growth in calculated remaining performance obligations, which exceeded its guidance of 12%. Despite this positive news, concerns arose due to a smaller-than-expected revenue beat and the lack of an increase in full-year guidance, leading to a notable decline in Okta’s stock price. In response, Bernstein SocGen Group maintained its Outperform rating for Okta, setting a price target of $132.00, while RBC Capital Markets adjusted its price target to $135.00 from $143.00, also maintaining an Outperform rating.
In another update, Okta announced an expanded partnership with Palo Alto Networks (NASDAQ:PANW), introducing integrations aimed at enhancing security measures. Additionally, Okta launched a new protocol named Cross App Access to secure AI agent interactions across enterprise applications. Meanwhile, Benjamin Horowitz resigned from Okta’s board of directors, leading to a reduction in board size from nine to eight members. These developments reflect ongoing strategic adjustments and partnerships within Okta.
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