Royal Bank of Canada increased its position in shares of Okta, Inc. (NASDAQ:OKTA – Free Report) by 112.3% during the first quarter, HoldingsChannel reports. The fund owned 283,507 shares of the company’s stock after buying an additional 149,955 shares during the quarter. Royal Bank of Canada’s holdings in Okta were worth $22,314,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Robeco Institutional Asset Management B.V. grew its holdings in shares of Okta by 52.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 465,370 shares of the company’s stock worth $40,241,000 after purchasing an additional 161,069 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new position in Okta in the 4th quarter valued at approximately $3,122,000. Swedbank AB boosted its position in Okta by 124.3% during the 4th quarter. Swedbank AB now owns 1,819,081 shares of the company’s stock worth $157,296,000 after buying an additional 1,007,915 shares during the period. Diversify Wealth Management LLC acquired a new stake in Okta during the 1st quarter worth approximately $2,077,000. Finally, Torque Asset Management LLC grew its holdings in Okta by 40.5% during the 4th quarter. Torque Asset Management LLC now owns 289,141 shares of the company’s stock worth $25,002,000 after acquiring an additional 83,337 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.
Insider Activity at Okta
In related news, Director Shellye L. Archambeau sold 2,500 shares of Okta stock in a transaction on Monday, May 18th. The shares were sold at an average price of $85.00, for a total value of $212,500.00. Following the completion of the sale, the director owned 9,192 shares of the company’s stock, valued at approximately $781,320. This trade represents a 21.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 65,000 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $117.25, for a total transaction of $7,621,250.00. Following the sale, the chief financial officer owned 119,680 shares of the company’s stock, valued at $14,032,480. This trade represents a 35.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 167,847 shares of company stock valued at $22,039,842 over the last three months. 4.61% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Check Out Our Latest Report on OKTA
Okta Price Performance
OKTA stock opened at $147.04 on Thursday. The company’s 50-day moving average is $132.40 and its 200-day moving average is $98.73. The stock has a market capitalization of $25.56 billion, a PE ratio of 106.55, a price-to-earnings-growth ratio of 5.31 and a beta of 0.77. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $157.00.
Okta (NASDAQ:OKTA – Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. The business had revenue of $765.00 million for the quarter, compared to the consensus estimate of $751.84 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 EPS. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, analysts anticipate that Okta, Inc. will post 1.75 earnings per share for the current fiscal year.
Okta Company Profile
Okta, Inc is a publicly traded provider of identity and access management solutions, headquartered in San Francisco, California. Founded in 2009 by Todd McKinnon and Frederic Kerrest, the company completed its initial public offering in April 2017. Under the leadership of McKinnon as chief executive officer and Kerrest as chief operating officer, Okta has grown into a leading vendor in the cybersecurity space, focusing on secure user authentication, single sign-on and lifecycle management for digital identities.
At the core of Okta’s offering is the Okta Identity Cloud, a suite of cloud-native services that enable organizations to manage user access across web and mobile applications, on-premises systems and APIs.
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