Stableford Capital II LLC purchased a new position in Okta, Inc. (NASDAQ:OKTA – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 9,025 shares of the company’s stock, valued at approximately $1,231,000.
Several other large investors also recently made changes to their positions in OKTA. First Trust Advisors LP raised its stake in shares of Okta by 28.2% in the 4th quarter. First Trust Advisors LP now owns 6,030,090 shares of the company’s stock valued at $521,422,000 after acquiring an additional 1,326,051 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Okta by 71.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock worth $281,209,000 after purchasing an additional 1,485,963 shares during the period. Geode Capital Management LLC boosted its position in Okta by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 3,261,303 shares of the company’s stock worth $281,246,000 after purchasing an additional 57,605 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Okta by 2.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,389 shares of the company’s stock worth $215,776,000 after purchasing an additional 69,653 shares during the period. Finally, Pictet Asset Management Holding SA grew its holdings in Okta by 28.4% during the first quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company’s stock valued at $195,844,000 after purchasing an additional 550,328 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.
Insider Activity
In other Okta news, CEO Todd Mckinnon sold 68,936 shares of the stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $146.62, for a total value of $10,107,396.32. Following the completion of the sale, the chief executive officer directly owned 38,484 shares of the company’s stock, valued at $5,642,524.08. This represents a 64.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 24,971 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $134.13, for a total transaction of $3,349,360.23. Following the completion of the sale, the insider owned 23,477 shares in the company, valued at $3,148,970.01. This represents a 51.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 174,224 shares of company stock worth $22,534,353. Corporate insiders own 4.61% of the company’s stock.
Wall Street Analyst Weigh In
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Okta Stock Down 0.3%
Shares of NASDAQ OKTA opened at $141.57 on Tuesday. Okta, Inc. has a 12 month low of $62.66 and a 12 month high of $157.00. The company has a market cap of $24.61 billion, a P/E ratio of 102.59, a P/E/G ratio of 5.10 and a beta of 0.77. The business’s 50 day moving average is $130.17 and its two-hundred day moving average is $97.96.
Okta (NASDAQ:OKTA – Get Free Report) last posted 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. The company had revenue of $765.00 million during the quarter, compared to analysts’ expectations of $751.84 million. Okta had a return on equity of 4.15% and a net margin of 8.24%.Okta’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.86 earnings per share. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. Sell-side analysts expect that Okta, Inc. will post 1.75 earnings per share for the current fiscal year.
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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