My Personal CFO LLC lowered its stake in shares of Okta, Inc. (NASDAQ:OKTA – Free Report) by 14.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,583 shares of the company’s stock after selling 10,074 shares during the period. Okta accounts for about 4.4% of My Personal CFO LLC’s investment portfolio, making the stock its 6th largest position. My Personal CFO LLC’s holdings in Okta were worth $12,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Courier Capital LLC increased its holdings in Okta by 50.6% in the 3rd quarter. Courier Capital LLC now owns 14,042 shares of the company’s stock valued at $2,936,000 after acquiring an additional 4,716 shares during the last quarter. NorthCrest Asset Manangement LLC purchased a new stake in Okta in the 3rd quarter worth $248,000. Perpetual Ltd lifted its stake in Okta by 129.9% in the 3rd quarter. Perpetual Ltd now owns 6,692 shares of the company’s stock worth $1,399,000 after purchasing an additional 3,781 shares in the last quarter. Wedmont Private Capital bought a new position in shares of Okta during the 3rd quarter valued at about $260,000. Finally, Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Okta by 5.4% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 50,845 shares of the company’s stock valued at $10,632,000 after purchasing an additional 2,600 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on OKTA shares. Weiss Ratings lowered Okta from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Citigroup reiterated a “market outperform” rating on shares of Okta in a research report on Thursday, September 24th. KeyCorp set a $240.00 target price on Okta and gave the stock an “overweight” rating in a research report on Thursday, September 24th. UBS Group increased their price target on Okta from $150.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Finally, HC Wainwright assumed coverage on Okta in a report on Monday, July 6th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $201.10.
Okta Stock Down 0.2%
OKTA stock opened at $226.53 on Wednesday. Okta, Inc. has a 52 week low of $62.66 and a 52 week high of $235.00. The company has a fifty day simple moving average of $176.97 and a two-hundred day simple moving average of $131.71. The firm has a market capitalization of $39.60 billion, a P/E ratio of 136.46, a price-to-earnings-growth ratio of 7.06 and a beta of 0.73.
Okta (NASDAQ:OKTA – Get Free Report) last issued its quarterly earnings data on Wednesday, August 26th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. The business had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $793.00 million. Okta had a net margin of 9.63% and a return on equity of 4.50%. The business’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the company posted $0.91 EPS. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. As a group, analysts anticipate that Okta, Inc. will post 1.92 EPS for the current year.
Insider Activity at Okta
In related news, CFO Brett Tighe sold 41,251 shares of Okta stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $162.44, for a total value of $6,700,812.44. Following the completion of the transaction, the chief financial officer owned 7,693 shares in the company, valued at approximately $1,249,650.92. This trade represents a 84.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd McKinnon sold 48,822 shares of Okta stock in a transaction dated Tuesday, September 22nd. The stock was sold at an average price of $193.48, for a total value of $9,446,080.56. Following the completion of the transaction, the chief executive officer owned 44,029 shares of the company’s stock, valued at approximately $8,518,730.92. This represents a 52.58% 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 quarter, insiders sold 137,766 shares of company stock valued at $23,927,112. Insiders own 4.61% of the company’s stock.
About Okta
Okta, Inc is an identity and access management company that helps organizations secure and manage access to applications, systems, devices and digital services. Its platform is designed to support employees, contractors, partners, customers and other users across cloud-based and on-premises environments.
Okta’s products include single sign-on, multifactor authentication, lifecycle management, identity governance, privileged access and identity threat protection. Through its Workforce Identity Cloud and Customer Identity Cloud, the company provides tools for workforce access management and for integrating authentication and authorization capabilities into customer-facing applications.
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