Okta CFO Brett Tighe sells $436,432 in company stock

Published 27/01/2025, 23:18
Okta CFO Brett Tighe sells $436,432 in company stock

SAN FRANCISCO—Brett Tighe, Chief Financial Officer of Okta, Inc. (NASDAQ:OKTA), recently sold a significant portion of the company's Class A common stock. According to a filing with the Securities and Exchange Commission, Tighe sold a total of 5,000 shares on January 23, 2025, generating proceeds of approximately $436,432. The transaction comes as Okta, with a market capitalization of $15.54 billion, maintains strong financial health according to InvestingPro analysis.

The shares were sold at prices ranging from $87.1355 to $87.89 per share. Following these transactions, Tighe holds 107,533 shares of Okta directly. Additionally, he retains indirect ownership of 1,250 shares through a trust.

These transactions were carried out under a pre-arranged Rule 10b5-1 trading plan, which Tighe adopted on October 11, 2024. This plan allows company insiders to set up a predetermined schedule for selling stocks, helping to avoid any potential allegations of insider trading.

Okta, a leading provider of identity management solutions, continues to navigate the dynamic landscape of the technology sector. Investors and market watchers will be keeping an eye on the company's performance and any further transactions by its executives.

In other recent news, Okta, Inc. has seen a flurry of analyst activity following its strong third-quarter performance. KeyBanc Capital Markets upgraded the company's stock from Sector Weight to Overweight, citing a positive outlook on Okta's prospects within the security sector. The upgrade was supported by 36 analysts who recently revised their earnings expectations upward for the upcoming period.

Baird increased its price target on Okta shares to $115, identifying Okta as one of its top small to mid-cap investment ideas for the upcoming year. Baird's outlook was based on the company's conservative preliminary financial guidance for FY26 and the importance of identity security.

Meanwhile, Bernstein revised its price target for Okta to $124, maintaining an Outperform rating despite the reduction. This adjustment followed a meeting between Bernstein analysts and Okta's leadership team, which reinforced the analysts' confidence in the company's future performance.

BMO Capital maintained a Market Perform rating and a $105 price target on Okta, citing a balanced outlook with equal measures of opportunities and risks. Piper Sandler also maintained a Neutral rating on Okta, raising the price target to $90 from $85, following the company's slight uptick in calculated remaining performance obligations (cRPO) growth.

These recent developments highlight Okta's strong performance and its position as a significant player in the identity management market.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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