SG Americas Securities LLC Has $4.58 Million Stock Holdings in Okta, Inc. $OKTA

SG Americas Securities LLC decreased its holdings in shares of Okta, Inc. (NASDAQ:OKTA) by 12.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,906 shares of the company’s stock after selling 7,831 shares during the period. SG Americas Securities LLC’s holdings in Okta were worth $4,575,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC bought a new position in shares of Okta during the 1st quarter worth approximately $225,000. NewEdge Advisors LLC grew its position in Okta by 853.4% in the first quarter. NewEdge Advisors LLC now owns 5,530 shares of the company’s stock valued at $582,000 after acquiring an additional 4,950 shares during the period. Sivia Capital Partners LLC acquired a new position in Okta during the second quarter worth $244,000. Prudential Financial Inc. raised its stake in Okta by 229.1% during the second quarter. Prudential Financial Inc. now owns 27,477 shares of the company’s stock worth $2,747,000 after acquiring an additional 19,127 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Okta by 5.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 2,238 shares of the company’s stock valued at $224,000 after acquiring an additional 113 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Stock Up 0.5%

Shares of NASDAQ OKTA opened at $79.14 on Thursday. Okta, Inc. has a 12-month low of $68.77 and a 12-month high of $127.57. The firm’s 50-day simple moving average is $80.96 and its 200 day simple moving average is $85.73. The company has a market cap of $14.00 billion, a price-to-earnings ratio of 60.41, a price-to-earnings-growth ratio of 3.08 and a beta of 0.79.

Okta (NASDAQ:OKTA) last posted its quarterly earnings data 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 net margin of 8.05% and a return on equity of 4.18%. The firm had revenue of $761.00 million during the quarter, compared to analysts’ expectations of $749.87 million. During the same quarter last year, the company posted $0.78 EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. Okta has set its FY 2027 guidance at 3.740-3.820 EPS and its Q1 2027 guidance at 0.840-0.860 EPS. On average, equities analysts expect that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta declared that its Board of Directors has initiated a stock repurchase plan on Monday, January 5th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Okta

In related news, CFO Brett Tighe sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $95.07, for a total value of $950,700.00. Following the completion of the sale, the chief financial officer owned 134,385 shares of the company’s stock, valued at $12,775,981.95. This trade represents a 6.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Jonathan James Addison sold 23,304 shares of the business’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $77.79, for a total transaction of $1,812,818.16. Following the completion of the transaction, 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 disclosure for this sale is available in the SEC filing. Insiders sold 69,365 shares of company stock valued at $5,696,938 over the last three months. Insiders own 5.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on OKTA shares. Piper Sandler lowered their target price on shares of Okta from $100.00 to $82.00 and set a “neutral” rating on the stock in a report on Thursday, March 5th. Wells Fargo & Company assumed coverage on shares of Okta in a report on Tuesday, March 3rd. They set an “equal weight” rating and a $76.00 price target for the company. KeyCorp decreased their price objective on shares of Okta from $115.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, March 5th. Stifel Nicolaus dropped their price objective on shares of Okta from $121.00 to $92.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Finally, Citigroup cut their target price on shares of Okta from $100.00 to $87.00 and set a “neutral” rating for the company in a research note on Thursday, March 5th. Twenty-six analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.25.

About Okta

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.