6,663 Shares in Okta, Inc. $OKTA Purchased by Plato Investment Management Ltd

Plato Investment Management Ltd bought a new stake in shares of Okta, Inc. (NASDAQ:OKTA) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 6,663 shares of the company’s stock, valued at approximately $904,000.

Several other institutional investors also recently added to or reduced their stakes in the business. S&CO Inc. bought a new stake in shares of Okta in the second quarter valued at approximately $2,687,000. Generali Investments Management Co LLC raised its stake in Okta by 13.1% during the 2nd quarter. Generali Investments Management Co LLC now owns 3,005 shares of the company’s stock valued at $410,000 after purchasing an additional 349 shares during the last quarter. E. Ohman J or Asset Management AB boosted its holdings in Okta by 2,395.8% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 146,156 shares of the company’s stock valued at $19,943,000 after purchasing an additional 140,300 shares during the period. Handelsbanken Fonder AB grew its position in Okta by 351.3% in the 2nd quarter. Handelsbanken Fonder AB now owns 216,191 shares of the company’s stock worth $29,499,000 after purchasing an additional 168,291 shares during the last quarter. Finally, Fulton Bank N.A. acquired a new stake in Okta in the 2nd quarter worth $365,000. 86.64% of the stock is owned by institutional investors.

Okta Stock Performance

Okta stock opened at $143.92 on Wednesday. The firm has a market cap of $25.01 billion, a P/E ratio of 104.29, a P/E/G ratio of 5.30 and a beta of 0.77. The business’s fifty day moving average is $137.06 and its two-hundred day moving average is $102.38. Okta, Inc. has a 52 week low of $62.66 and a 52 week high of $157.00.

Okta (NASDAQ:OKTA) last announced its earnings results on Thursday, May 28th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.06. Okta had a net margin of 8.24% and a return on equity of 4.15%. The company had revenue of $765.00 million during the quarter, compared to the consensus estimate of $751.84 million. During the same period in the previous year, the firm posted $0.86 earnings per share. The company’s revenue was up 11.2% on a year-over-year basis. 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 predict that Okta, Inc. will post 1.75 earnings per share for the current year.

Wall Street Analyst Weigh In

OKTA has been the subject of several research reports. Wells Fargo & Company upgraded shares of Okta from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $150.00 to $180.00 in a research note on Monday. Truist Financial raised their price objective on Okta from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Barclays boosted their price objective on Okta from $120.00 to $170.00 and gave the company an “overweight” rating in a research report on Monday. Citigroup reaffirmed an “outperform” rating on shares of Okta in a research report on Friday, May 29th. Finally, Evercore assumed coverage on shares of Okta in a research note on Monday, July 6th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Okta has an average rating of “Moderate Buy” and a consensus target price of $130.51.

Insider Transactions at Okta

In other news, CFO Brett Tighe sold 65,000 shares of Okta stock in a transaction on Monday, June 8th. The stock was sold at an average price of $117.25, for a total value of $7,621,250.00. Following the completion of the sale, the chief financial officer directly owned 119,680 shares of the company’s stock, valued at approximately $14,032,480. This trade represents a 35.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Larissa Schwartz sold 24,971 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $134.13, for a total value of $3,349,360.23. Following the sale, the insider owned 23,477 shares of the company’s stock, valued at approximately $3,148,970.01. The trade was a 51.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 165,347 shares of company stock valued at $21,827,342 over the last 90 days. 4.61% of the stock is currently owned by corporate insiders.

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.