Bank of America just raised its EUR/USD forecast
Jacques Frederic Kerrest, a director at Okta, Inc. (NASDAQ:OKTA), recently reported significant stock sales according to an SEC filing. On March 4th and 5th, Kerrest sold a total of 339,596 shares of Okta’s Class A common stock, with transaction prices ranging from $103.50 to $112.50 per share. The total value of these sales amounted to approximately $33.9 million. The timing of these sales coincides with Okta’s strong market performance, as InvestingPro data shows the stock has surged over 30% in the past week and is currently trading near its 52-week high of $116.75.
The transactions were conducted under a pre-established trading plan, as indicated by the filing. Following these sales, Kerrest’s direct ownership in Okta stands at zero shares, while indirect holdings through a trust remain. These trades are part of a series of transactions involving the conversion and sale of stock options and common stock. With a market capitalization of $19.44 billion and impressive gross profit margins of 76%, Okta maintains a strong financial position. InvestingPro subscribers can access 15 additional key insights and a comprehensive Pro Research Report, offering deeper analysis of Okta’s valuation and growth prospects.
In other recent news, Okta, Inc reported a strong fourth quarter for fiscal year 2025, with a 13% year-over-year revenue increase and a 25% growth in Remaining Performance Obligations (RPO). This performance has led to several analysts adjusting their price targets for the company. RBC Capital Markets raised their price target to $120, citing Okta’s robust quarterly results and a favorable risk/reward balance. Similarly, Stifel also increased their target to $120, noting the company’s strengths in areas like Workforce Identity and Customer Identity Access Management.
Piper Sandler took a more optimistic stance, raising their price target to $135, based on Okta’s strong fiscal fourth quarter and a positive outlook for 2026. Oppenheimer echoed this sentiment by also setting their price target at $135, highlighting Okta’s growth with large customers and a record contribution from its acquisition, Auth0. Despite these positive developments, TD Cowen maintained a Hold rating with a price target of $110, emphasizing Okta’s solid financial health but opting for a cautious approach.
Overall, the company’s recent performance and guidance have garnered attention from multiple firms, each recognizing Okta’s potential in the expanding cybersecurity landscape. The focus on comprehensive platform solutions and strategic product innovations appears to be driving confidence in Okta’s future growth trajectory.
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