Okta’s president and COO sells $670,555 in stock

Eric Kelleher, President and Chief Operating Officer of Okta, Inc. (NASDAQ:OKTA), a $19.6 billion identity management company trading near its 52-week high of $116.96, recently sold shares of the company in a series of transactions. According to InvestingPro data, the company has demonstrated impressive performance with a 56.5% return over the past six months. According to a Form 4 filing with the Securities and Exchange Commission, Kelleher sold a total of 5,895 shares on March 17, 2025. The sales were executed at prices ranging from $113.33 to $114.06 per share, amounting to approximately $670,555.

The transactions were conducted under a Rule 10b5-1 trading plan, which Kelleher adopted on March 28, 2024. Following these sales, Kelleher holds 9,828 shares of Okta’s Class A common stock.

This move comes as part of a broader set of transactions, including the acquisition of shares through the exercise of restricted stock units on March 15, 2025. However, these acquisitions were made at no cost, and no additional sales were reported on that date.

Investors may view these transactions as part of routine portfolio management by Kelleher, who continues to hold a significant stake in the company.

In other recent news, Okta, Inc. reported a strong close to fiscal year 2025, with a 13% year-over-year revenue increase and a 25% rise in Remaining Performance Obligations (RPO), driven by engagement from large customers and new product introductions. The company’s guidance for fiscal year 2026 suggests continued growth, with revenue expected to increase between 9% and 10%, alongside a healthy free cash flow margin. RBC Capital Markets raised its price target for Okta to $120 from $115, maintaining an Outperform rating, citing robust quarterly results and a promising growth trajectory for fiscal year 2026. Similarly, Stifel increased its price target to $120, noting Okta’s strong fourth-quarter performance and growth in RPO and current RPO (cRPO).

BMO Capital Markets adjusted its price target for Okta from $105 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 price target of $135, expressing confidence in Okta’s growth prospects and strategic positioning in the identity security sector. TD Cowen maintained a Hold rating and a price target of $110, recognizing Okta’s fiscal health and growth potential while maintaining a cautious outlook. These recent developments reflect a positive sentiment towards Okta’s financial performance and strategic direction among several analyst firms.

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