SBI Securities Co. Ltd. Sells 10,429 Shares of Okta, Inc. $OKTA

SBI Securities Co. Ltd. trimmed its position in shares of Okta, Inc. (NASDAQ:OKTA) by 27.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 28,254 shares of the company’s stock after selling 10,429 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Okta were worth $2,443,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Root Financial Partners LLC bought a new stake in shares of Okta in the third quarter worth about $26,000. Elevation Wealth Partners LLC raised its position in Okta by 825.0% during the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after purchasing an additional 264 shares during the last quarter. Torren Management LLC purchased a new stake in Okta in the 4th quarter worth approximately $32,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Okta in the 3rd quarter worth approximately $34,000. Finally, Westside Investment Management Inc. grew its position in shares of Okta by 86.9% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock worth $38,000 after buying an additional 193 shares during the last quarter. 86.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Okta

In other news, CEO Todd Mckinnon sold 11,263 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $81.01, for a total transaction of $912,415.63. Following the sale, the chief executive officer owned 97,083 shares in the company, valued at $7,864,693.83. This represents a 10.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Jonathan James Addison sold 23,304 shares of the firm’s stock in a transaction that occurred on Wednesday, March 25th. The shares were sold at an average price of $77.79, for a total transaction of $1,812,818.16. Following the sale, the executive directly owned 4,364 shares of the company’s stock, valued at $339,475.56. This trade represents a 84.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 63,843 shares of company stock valued at $5,071,889. 5.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on OKTA. Wells Fargo & Company initiated coverage on Okta in a report on Tuesday, March 3rd. They set an “equal weight” rating and a $76.00 target price for the company. Oppenheimer cut their price target on shares of Okta from $120.00 to $110.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. Citigroup downgraded shares of Okta from a “neutral” rating to a “negative” rating in a research report on Thursday, April 16th. UBS Group set a $85.00 target price on shares of Okta in a research report on Thursday, April 16th. Finally, DA Davidson restated a “buy” rating and issued a $110.00 price objective on shares of Okta in a report on Thursday, March 5th. Twenty-eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $100.89.

Okta Stock Performance

Shares of OKTA opened at $77.40 on Thursday. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $127.57. The firm’s 50-day simple moving average is $75.87 and its two-hundred day simple moving average is $82.91. The stock has a market cap of $13.69 billion, a PE ratio of 59.08, a price-to-earnings-growth ratio of 3.03 and a beta of 0.59.

Okta (NASDAQ:OKTA) last issued its quarterly earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.05. Okta had a return on equity of 4.18% and a net margin of 8.05%.The firm had revenue of $761.00 million during the quarter, compared to the consensus estimate of $749.87 million. During the same period last year, the company earned $0.78 earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. Equities research analysts predict that Okta, Inc. will post 1.61 EPS for the current year.

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.