Okta's chief legal officer Larissa Schwartz sells $267,396 in stock

SAN FRANCISCO—Larissa Schwartz, the Chief Legal Officer and Corporate Secretary at Okta, Inc. (NASDAQ:OKTA), recently executed a sale of the company's stock, according to a recent SEC filing. On February 11, Schwartz sold 2,740 shares of Okta's Class A Common Stock at an average price of $97.59 per share, totaling $267,396. The stock has shown strong momentum, with a 24.7% gain year-to-date and currently trades at $100.26, giving the company a market capitalization of $17.2 billion.

The transaction was conducted under a pre-arranged trading plan adopted on September 30, 2024. Following this sale, Schwartz holds 22,125 shares of Okta's Class A Common Stock directly. According to InvestingPro analysis, Okta appears slightly undervalued at current levels, with multiple growth catalysts ahead and the company's next earnings report scheduled for March 3, 2025.

In addition to this sale, Schwartz acquired a total of 8,758 Performance Stock Units (PSUs) and 7,746 PSUs, both subject to vesting criteria based on performance and service, as part of her compensation package. These acquisitions were recorded at a value of $0 as they are tied to performance achievements and future service conditions.

This activity highlights Schwartz’s ongoing involvement in Okta's stock compensation plans, aligning her interests with the company’s performance metrics.

In other recent news, Okta Inc . has seen a series of adjustments in stock targets from various analysts. KeyBanc raised Okta's stock price target to $125, maintaining a positive outlook, while Wolfe Research reaffirmed its Outperform rating and $108.00 price target. In contrast, Jefferies reiterated a Hold rating on Okta's stock with a steady price target of $90.00. These developments come amidst Okta's announcement of a 3% workforce reduction and significant changes in its executive team, including the promotion of Eric Kelleher to President and Chief Operating Officer (COO).

In other news, Bernstein analysts maintained their outlook on Amazon (NASDAQ:AMZN) Web Services (AWS) and Datadog (NASDAQ:DDOG), despite concerns over weaker performances from competitors. AWS's growth could decelerate in the first quarter of 2025 due to AI capacity constraints, while Datadog's performance could be impacted if AWS experiences SSO weakness. Bernstein maintains its Outperform rating and $151 price target for Datadog, and Amazon as Outperform with a price target of $275.

These recent developments reflect the continually shifting landscape of the tech industry, with companies like Okta, AWS, and Datadog adjusting their strategies and expectations in response to market trends and challenges.

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