Okta CFO Brett Tighe sells $12.8 million in company shares

Okta's CFO, Brett Tighe, divested $12.8 million worth of company shares on September 2, 2026. He sold 80,000 shares of the Class A Common Stock, with prices ranging between $158.51 and $167.0867 per share. The transactions were conducted under a pre-approved Rule 10b5-1 trading plan initiated by Tighe on April 8, 2026. This sale occurred as Okta's stock price hovered near its 52-week high of $174.85, following a significant 90% increase over the previous year.

InvestingPro analysis suggests the stock might be overvalued compared to its fair value, a point to consider for investors tracking insider trades. Of the shares sold, 38,749 were held directly by Tighe, while 41,251 shares were owned indirectly through a trust. Furthermore, Tighe converted 41,251 shares of Class B Common Stock into an equivalent number of Class A Common Stock on the same date, a conversion without any exchange of money.

Post these transactions, Tighe directly owns 82,046 shares of Class A Common Stock, including 275 shares obtained through an employee stock purchase plan, and 7,693 shares indirectly held through a trust. He also possesses RSUs entitling him to receive additional shares of Class A Common Stock upon vesting, such as 11,620, 24,640, and 50,808 units.

Okta's market capitalization stands at $29.8 billion, and the company scored a perfect 9 on the Piotroski scale, indicating robust financial health. Recently, Okta reported strong Q2 fiscal 2027 results, with committed remaining performance obligations rising by 14% year-over-year and surpassing expectations, leading to several analyst firms raising their price targets.