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Jacques Frederic Kerrest, a director at Okta, Inc. (NASDAQ:OKTA), recently executed a series of stock transactions involving the company’s Class A Common Stock. The $16.7 billion identity management company, which maintains impressive gross profit margins of 76%, has seen its stock climb over 23% year-to-date. On February 5, 2025, Kerrest sold a total of 73,999 shares at a price of $97.50 per share, amounting to a total value of approximately $7.3 million. These transactions were carried out under a Rule 10b5-1 trading plan, which Kerrest adopted on September 19, 2024.
Additionally, Kerrest acquired shares through conversions but did not retain any following the sales. The transactions reflect Kerrest’s active management of his holdings in Okta, a leading provider of identity and access management solutions showing strong revenue growth of 17%. According to InvestingPro analysis, the stock is currently trading near Fair Value, with technical indicators suggesting overbought conditions.
In other recent news, Okta, Inc. has been the subject of several analyst reports. Jefferies has reiterated a Hold rating on Okta with a steady price target of $90.00, following Okta’s announcement of a workforce reduction of approximately 3%. Despite the reduction, Okta has maintained its financial guidance for the fourth fiscal quarter and full fiscal year 2025, suggesting a stable outlook on its financial performance.
In contrast, KeyBanc Capital Markets has upgraded Okta from Sector Weight to Overweight, establishing a new price target of $115.00. KeyBanc cites Okta’s prospects within the security sector and a potentially improving macroeconomic environment as reasons for the upgrade. Similarly, Baird has raised its price target for Okta to $115, retaining an Outperform rating on the stock, while Bernstein has reduced its price target from $129.00 to $124.00, but continues to hold an Outperform rating.
These are recent developments that provide insights into Okta’s strategic moves and potential growth. It’s important to note that these projections and ratings come from independent analyst firms and are not predictions or prognostications from this article.
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