Okta, Inc. $OKTA Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. decreased its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 75.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 203,707 shares of the company’s stock after selling 635,119 shares during the period. Pacer Advisors Inc.’s holdings in Okta were worth $17,615,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. First Trust Advisors LP raised its holdings 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 worth $521,422,000 after purchasing an additional 1,326,051 shares in the last quarter. Geode Capital Management LLC boosted its holdings 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 buying an additional 57,605 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings 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 buying an additional 69,653 shares in the last quarter. Ameriprise Financial Inc. grew its position in Okta by 9.3% in the third quarter. Ameriprise Financial Inc. now owns 2,226,676 shares of the company’s stock worth $204,162,000 after buying an additional 189,036 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in 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 buying an additional 1,099,962 shares during the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Price Performance

NASDAQ:OKTA opened at $117.81 on Friday. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $142.35. The stock’s 50-day moving average is $92.57 and its two-hundred day moving average is $87.07. The stock has a market cap of $20.48 billion, a PE ratio of 85.37, a price-to-earnings-growth ratio of 4.27 and a beta of 0.80.

Okta (NASDAQ:OKTA) last released 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. Okta had a net margin of 8.24% and a return on equity of 4.15%. The firm had revenue of $765.00 million for the quarter, compared to analyst estimates of $751.84 million. During the same quarter in the prior year, the business earned $0.86 EPS. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.790-3.870 EPS and its Q2 2027 guidance at 0.950-0.970 EPS. On average, equities research analysts anticipate that Okta, Inc. will post 1.74 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Mizuho downgraded Okta from an “outperform” rating to a “neutral” rating and increased their price objective for the company from $110.00 to $125.00 in a research report on Tuesday, June 2nd. UBS Group lifted their price target on Okta from $115.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Susquehanna upped their price objective on shares of Okta from $80.00 to $110.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Stephens decreased their target price on shares of Okta from $120.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. Finally, Scotiabank lifted their target price on shares of Okta from $80.00 to $105.00 and gave the stock a “sector perform” rating in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Okta presently has a consensus rating of “Moderate Buy” and an average target price of $114.14.

Insider Buying and Selling

In other news, CFO Brett Tighe sold 65,000 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $117.25, for a total transaction of $7,621,250.00. Following the transaction, the chief financial officer owned 119,680 shares in the company, valued at approximately $14,032,480. This trade represents a 35.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 dated Tuesday, June 2nd. The shares were sold at an average price of $134.13, for a total value of $3,349,360.23. Following the transaction, the insider owned 23,477 shares in the company, valued at approximately $3,148,970.01. This trade represents a 51.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 142,201 shares of company stock worth $15,104,140. Insiders own 4.61% of the company’s stock.

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.