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Okta, Inc. (NASDAQ:OKTA) Chief Legal Officer and Corporate Secretary Larissa Schwartz sold 3,349 shares of Class A Common Stock, generating approximately $333,242. The sales occurred in two separate transactions. The company, currently valued at $17.4 billion, maintains strong financial health with impressive gross profit margins of 77% and positive analyst sentiment, with 40 analysts recently revising earnings estimates upward.
On June 17, 2025, Schwartz sold 1,105 shares at a price of $98.50 per share. Following this, on June 20, 2025, she sold 2,244 shares at $100 per share.
Following these transactions, Schwartz directly owns 23,640 shares of Okta, Inc. class A common stock.
In other recent news, Okta, Inc. reported a 14% growth in calculated remaining performance obligations (cRPO) for the first fiscal quarter, surpassing its guidance of 12%. Despite this positive development, the company faced challenges, including a smaller-than-expected revenue beat and maintaining its full-year guidance amid macroeconomic uncertainties. Bernstein SocGen Group and RBC Capital Markets both maintained their Outperform ratings, with Bernstein setting a price target of $132 and RBC adjusting theirs to $135. BMO Capital Markets, however, lowered its price target to $132, maintaining a "Market Perform" rating due to modest expectations for revenue growth in the latter half of fiscal year 2026. Piper Sandler kept a Neutral rating and a $110 price target, highlighting the smallest revenue beat in Okta’s history and uncertain revenue growth prospects. KeyBanc Capital Markets reduced its price target to $140 but retained an Overweight rating, citing robust performance in the public sector and a strengthened pipeline. These developments indicate a mixed outlook for Okta, with analysts expressing both confidence in its strategy and caution due to economic conditions.
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