SAN FRANCISCO—Larissa Schwartz, Chief Legal Officer and Corporate Secretary at Okta, Inc. (NASDAQ:OKTA), recently sold shares of the company's stock, according to a Form 4 filing with the Securities and Exchange Commission. The transaction, executed on November 4, involved the sale of 2,791 shares of Okta's Class A Common Stock at an average price of $71.50 per share. This sale amounted to a total value of $199,556.
Following the transaction, Schwartz holds 22,125 shares of Class A Common Stock directly. This transaction was conducted under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stock.
Additionally, Schwartz holds various restricted stock units and employee stock options, which are detailed in the filing. These holdings include restricted stock units that vest over time and employee stock options that are fully vested and exercisable.
In other recent news, Okta Inc (NASDAQ:OKTA). reported a 16% year-over-year revenue increase to $646 million, largely due to a 17% rise in subscription revenue. However, Okta's third-quarter calculated remaining performance obligations (cRPO) guidance fell short of projections, leading to several financial adjustments. Following these developments, various analyst firms adjusted their outlook. Citi reduced its price target for Okta to $90, while Canaccord Genuity lowered its price target to $82. TD Cowen maintained its Hold rating with a consistent price target of $110. Piper Sandler trimmed its price target for Okta to $85, and RBC Capital Markets reduced its price target to $101. In addition, Okta recently introduced several new products and advancements, including a significant identity security standard called IPSIE. These are the recent developments regarding Okta.
InvestingPro Insights
As Okta's Chief Legal Officer executes a planned stock sale, it's worth examining the company's financial health and market position. According to InvestingPro data, Okta's market capitalization stands at $13.01 billion, reflecting its significant presence in the identity and access management space.
Despite the recent insider sale, Okta shows promising signs. An InvestingPro Tip indicates that 31 analysts have revised their earnings upwards for the upcoming period, suggesting positive expectations for the company's financial performance. This optimism is further supported by another InvestingPro Tip, which notes that Okta's net income is expected to grow this year.
The company's financial strength is evident in its balance sheet, with InvestingPro data showing that Okta holds more cash than debt. This solid financial footing is complemented by impressive gross profit margins, which stand at 75.82% for the last twelve months as of Q2 2025. These metrics underscore Okta's ability to maintain profitability in its core operations, even as it navigates the competitive tech landscape.
While Okta's P/E ratio of -93.58 might raise eyebrows, it's important to note that the company is in a growth phase. The revenue growth of 18.74% over the last twelve months indicates that Okta continues to expand its market share. Moreover, analysts predict that the company will be profitable this year, which could mark a turning point for Okta's financial narrative.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights. In fact, there are 5 more InvestingPro Tips available for Okta, providing a deeper understanding of the company's prospects and challenges.
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