Okta’s chief legal officer sells over $1.3 million in stock

SAN FRANCISCO—Larissa Schwartz, Chief Legal Officer and Corporate Secretary at Okta, Inc. (NASDAQ:OKTA), recently executed a series of stock sales, according to a filing with the Securities and Exchange Commission. The identity management company, currently valued at $19.77 billion, has seen its stock surge nearly 43% year-to-date.

On March 19, Schwartz sold a total of 11,552 shares of Okta’s Class A Common Stock. The transactions were conducted at prices ranging from $113.5739 to $115.1575 per share, resulting in a total sale value of approximately $1,317,967. The sale occurred as the stock trades near its 52-week high of $116.96, significantly above its 52-week low of $70.56. InvestingPro analysis shows the stock is currently trading close to its calculated Fair Value.

Following these transactions, Schwartz retains ownership of 22,125 shares of Okta’s Class A Common Stock. The sales were executed under a pre-established Rule 10b5-1 trading plan. InvestingPro subscribers can access 14 additional key insights and a comprehensive Pro Research Report about Okta’s financial health and market position.

In other recent news, Okta, Inc. has reported strong financial results, with a notable 13% year-over-year revenue increase and a 25% growth in Remaining Performance Obligations (RPO) for the fourth quarter of fiscal year 2025. RBC Capital Markets raised its price target for Okta to $120, citing the company’s robust quarterly results and accelerated growth in current RPO. Similarly, Stifel increased its price target to $120, highlighting Okta’s strong fourth-quarter performance and growth in Workforce Identity and Customer Identity Access Management.

BMO Capital Markets adjusted its price target for Okta to $130, maintaining a Market Perform rating, due to improved execution and growth in performance obligations. KeyBanc Capital Markets reiterated its Overweight rating with a $135 target, expressing confidence in Okta’s growth trajectory and strategic positioning in the identity security market. TD Cowen maintained a Hold rating with a $110 target, noting Okta’s impressive fiscal year-end performance and strong cash flow margins.

These developments reflect a positive outlook from multiple analyst firms, underscoring Okta’s strategic focus and potential for sustained growth in the cybersecurity sector.

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