Stephens Investment Management Group LLC raised its holdings in shares of Okta, Inc. (NASDAQ:OKTA – Free Report) by 1.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 443,827 shares of the company’s stock after acquiring an additional 6,192 shares during the period. Stephens Investment Management Group LLC’s holdings in Okta were worth $34,934,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Praxis Investment Management Inc. grew its stake in shares of Okta by 43.8% during the first quarter. Praxis Investment Management Inc. now owns 5,102 shares of the company’s stock worth $402,000 after purchasing an additional 1,553 shares during the period. Private Advisor Group LLC lifted its stake in Okta by 1.0% in the first quarter. Private Advisor Group LLC now owns 25,979 shares of the company’s stock valued at $2,045,000 after buying an additional 249 shares during the period. Optas LLC bought a new position in Okta during the first quarter worth about $231,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Okta by 97.4% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 79,750 shares of the company’s stock worth $6,277,000 after buying an additional 39,350 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. grew its position in shares of Okta by 6.1% during the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 137,420 shares of the company’s stock worth $10,816,000 after buying an additional 7,909 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Royal Bank Of Canada upped their price target on Okta from $108.00 to $122.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. JPMorgan Chase & Co. lifted their price objective on shares of Okta from $103.00 to $114.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Arete Research set a $127.00 price objective on shares of Okta and gave the company a “buy” rating in a report on Tuesday, May 26th. Susquehanna upped their target price on shares of Okta from $80.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Finally, Oppenheimer upped their target price on shares of Okta from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $116.83.
Okta Price Performance
Shares of Okta stock opened at $141.42 on Friday. The company has a market capitalization of $24.58 billion, a P/E ratio of 102.48, a price-to-earnings-growth ratio of 5.09 and a beta of 0.77. The business has a 50-day moving average of $104.23 and a two-hundred day moving average of $90.01. Okta, Inc. has a 1 year low of $62.66 and a 1 year high of $145.95.
Okta (NASDAQ:OKTA – Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. Okta had a return on equity of 4.15% and a net margin of 8.24%.The business had revenue of $765.00 million for the quarter, compared to analysts’ expectations of $751.84 million. During the same quarter in the previous year, the business posted $0.86 EPS. Okta’s revenue for the quarter was up 11.2% on a year-over-year basis. 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, equities analysts anticipate that Okta, Inc. will post 1.75 EPS for the current fiscal year.
Insider Activity
In other Okta news, Director Shellye L. Archambeau sold 2,500 shares of Okta stock in a transaction that occurred 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 transaction, the director owned 9,192 shares of the company’s stock, valued at approximately $781,320. The trade was a 21.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Robert Kelleher sold 3,977 shares of Okta stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $114.10, for a total transaction of $453,775.70. Following the completion of the transaction, the insider directly owned 19,618 shares in the company, valued at approximately $2,238,413.80. The trade was a 16.86% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 111,665 shares of company stock worth $12,935,522. Corporate insiders own 4.61% of the company’s stock.
Okta 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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