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SAN FRANCISCO—Jacques Kerrest, a director at Okta, Inc. (NASDAQ:OKTA), has sold shares of the company’s Class A common stock totaling $196,780, according to a recent SEC filing. The transactions, executed on March 20, 2025, were part of a pre-established Rule 10b5-1 trading plan. The sale comes as Okta’s stock trades near its 52-week high of $116.96, having gained approximately 50% over the past six months, according to InvestingPro data.
The sales involved three separate transactions, with the shares sold at prices ranging from $112.35 to $114.26 per share. Following these sales, Kerrest now holds 0 shares of Class A common stock directly. The company, currently valued at $20.18 billion, maintains impressive gross profit margins of 76.32%.
In addition to the non-derivative transactions, Kerrest retains significant holdings in derivative securities, including restricted stock units and employee stock options, as well as Class B common stock held indirectly by trust. These holdings offer Kerrest a substantial stake in Okta, with options to convert Class B shares into Class A shares at his discretion, ensuring continued alignment with the company’s future performance. Analysts maintain diverse price targets ranging from $75 to $140, reflecting varying outlooks on the company’s prospects. For deeper insights into Okta’s valuation and growth potential, access the comprehensive research report available on InvestingPro.
In other recent news, Okta, Inc. reported significant financial achievements and received mixed analyst ratings. RBC Capital Markets raised its price target for Okta to $120 from $115, maintaining an Outperform rating, following a robust quarterly performance that exceeded expectations. Stifel also increased its price target to $120, citing strong fourth-quarter results for fiscal year 2025 and a positive outlook for fiscal year 2026. Meanwhile, TD Cowen maintained a Hold rating with a $110 price target, noting Okta’s impressive financial metrics, including a 13% year-over-year revenue increase and a 25% growth in Remaining Performance Obligations.
KeyBanc Capital Markets reaffirmed its Overweight rating with a $135 price target, emphasizing confidence in Okta’s growth potential and strategic execution. BMO Capital Markets raised its price target from $105 to $130, acknowledging improved execution and growth in Okta’s performance obligations. Analysts from these firms have highlighted Okta’s strategic positioning in the identity security market, with particular attention to its go-to-market strategies and product expansions.
Okta’s guidance for fiscal year 2026 projects revenue growth between 9% and 10%, with free cash flow margins expected at 26%. Despite some challenges in metrics like Net Retention Rate, analysts generally express optimism about Okta’s trajectory, driven by its comprehensive platform solutions and expanding product portfolio. These developments reflect Okta’s ongoing efforts to capitalize on favorable market conditions and its strong financial performance.
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