My Personal CFO LLC Takes Position in Okta, Inc. $OKTA

My Personal CFO LLC purchased a new position in shares of Okta, Inc. (NASDAQ:OKTA) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 93,805 shares of the company’s stock, valued at approximately $8,111,000. Okta accounts for approximately 3.4% of My Personal CFO LLC’s portfolio, making the stock its 7th biggest holding.

Several other large investors also recently added to or reduced their stakes in OKTA. Norges Bank purchased a new stake in Okta during the second quarter valued at about $211,923,000. Allspring Global Investments Holdings LLC increased its stake in shares of Okta by 113.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,067,128 shares of the company’s stock worth $172,895,000 after purchasing an additional 1,099,962 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Okta by 5.7% in the third quarter. Vanguard Group Inc. now owns 19,803,227 shares of the company’s stock worth $1,815,956,000 after purchasing an additional 1,074,977 shares in the last quarter. Alyeska Investment Group L.P. raised its position in shares of Okta by 276.9% in the third quarter. Alyeska Investment Group L.P. now owns 1,403,499 shares of the company’s stock valued at $128,701,000 after purchasing an additional 1,031,083 shares during the period. Finally, Bain Capital Public Equity Management II LLC bought a new stake in shares of Okta in the second quarter valued at approximately $73,866,000. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Insider Activity at Okta

In other Okta news, CRO Jonathan James Addison sold 23,304 shares of the firm’s stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $77.79, for a total value of $1,812,818.16. Following the sale, the executive owned 4,364 shares of the company’s stock, valued at $339,475.56. This trade represents a 84.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Larissa Schwartz sold 1,836 shares of Okta stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $79.89, for a total value of $146,678.04. Following the sale, the insider owned 79,422 shares of the company’s stock, valued at approximately $6,345,023.58. This trade represents a 2.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 69,365 shares of company stock valued at $5,696,938 in the last ninety days. 5.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on OKTA. Wall Street Zen raised shares of Okta from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Needham & Company LLC lowered their target price on shares of Okta from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. The Goldman Sachs Group dropped their target price on Okta from $137.00 to $117.00 and set a “buy” rating on the stock in a research report on Wednesday, December 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Okta in a research report on Thursday, January 22nd. Finally, TD Cowen decreased their price objective on Okta from $115.00 to $105.00 and set a “hold” rating on the stock in a research note on Tuesday, February 24th. Twenty-six analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Okta currently has a consensus rating of “Moderate Buy” and an average price target of $103.25.

Okta Trading Up 4.3%

Okta stock opened at $78.71 on Wednesday. Okta, Inc. has a 1-year low of $68.77 and a 1-year high of $127.57. The firm has a market capitalization of $13.92 billion, a PE ratio of 60.08, a price-to-earnings-growth ratio of 2.95 and a beta of 0.79. The firm’s 50 day simple moving average is $81.15 and its 200 day simple moving average is $85.77.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Wednesday, March 4th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.85 by $0.05. The firm had revenue of $761.00 million during the quarter, compared to the consensus estimate of $749.87 million. Okta had a net margin of 8.05% and a return on equity of 4.18%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm earned $0.78 EPS. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. Research analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta announced that its Board of Directors has authorized a share repurchase plan on Monday, January 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.