National Pension Service raised its holdings in Okta, Inc. (NASDAQ:OKTA – Free Report) by 23.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,893 shares of the company’s stock after buying an additional 8,257 shares during the period. National Pension Service’s holdings in Okta were worth $5,989,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in OKTA. Integrated Wealth Concepts LLC bought a new stake in shares of Okta during the first quarter worth about $225,000. NewEdge Advisors LLC lifted its position in Okta by 853.4% in the 1st quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock valued at $582,000 after acquiring an additional 4,950 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Okta during the 2nd quarter valued at about $244,000. Invesco Ltd. boosted its stake in Okta by 34.1% during the 2nd quarter. Invesco Ltd. now owns 430,844 shares of the company’s stock valued at $43,071,000 after purchasing an additional 109,614 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Okta by 122.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,621 shares of the company’s stock worth $162,000 after purchasing an additional 893 shares in the last quarter. 86.64% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Okta news, insider Larissa Schwartz sold 2,463 shares of the company’s stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $120.00, for a total value of $295,560.00. Following the completion of the transaction, the insider owned 25,241 shares in the company, valued at $3,028,920. This represents a 8.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Eric Kelleher sold 3,977 shares of Okta stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $114.10, for a total value of $453,775.70. Following the sale, the insider owned 19,618 shares in the company, valued at $2,238,413.80. The trade was a 16.86% 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. Insiders sold a total of 155,376 shares of company stock worth $23,734,135 in the last ninety days. Company insiders own 4.61% of the company’s stock.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Analysis on OKTA
Okta Stock Down 2.7%
Okta stock opened at $166.50 on Friday. Okta, Inc. has a 52 week low of $62.66 and a 52 week high of $179.44. The company’s 50 day moving average price is $149.44 and its two-hundred day moving average price is $111.45. The stock has a market cap of $29.11 billion, a P/E ratio of 100.30, a P/E/G ratio of 5.18 and a beta of 0.79.
Okta (NASDAQ:OKTA – Get Free Report) last released its earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.09. The company had revenue of $805.00 million during the quarter, compared to analyst estimates of $793.00 million. Okta had a return on equity of 4.50% and a net margin of 9.63%.Okta’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. On average, equities analysts anticipate that Okta, Inc. will post 1.92 EPS for the current year.
About Okta
Okta, Inc provides cloud-based identity and access management solutions for organizations. Its platform helps businesses securely connect employees, customers, partners and applications while managing authentication, authorization and user access across cloud, on-premises and mobile environments.
The company’s offerings include single sign-on, multifactor authentication, adaptive access controls, lifecycle management, identity governance and privileged access capabilities. Through its Customer Identity Cloud, powered by Auth0, Okta also provides tools for developers and businesses to embed authentication and authorization features into applications and digital services.
Founded in 2009 by Todd McKinnon and Frederic Kerrest, Okta completed its initial public offering in 2017.
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