Okta, Inc. $OKTA Holdings Boosted by Cetera Investment Advisers

Cetera Investment Advisers raised its position in shares of Okta, Inc. (NASDAQ:OKTA) by 10.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 41,735 shares of the company’s stock after acquiring an additional 3,988 shares during the period. Cetera Investment Advisers’ holdings in Okta were worth $3,285,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. lifted its stake in Okta by 52.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 465,370 shares of the company’s stock worth $40,241,000 after acquiring an additional 161,069 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in Okta during the 4th quarter valued at about $3,122,000. Swedbank AB grew its stake in Okta by 124.3% during the 4th quarter. Swedbank AB now owns 1,819,081 shares of the company’s stock valued at $157,296,000 after acquiring an additional 1,007,915 shares in the last quarter. Diversify Wealth Management LLC purchased a new position in Okta during the 1st quarter valued at about $2,077,000. Finally, Torque Asset Management LLC increased its holdings in shares of Okta by 40.5% in the 4th quarter. Torque Asset Management LLC now owns 289,141 shares of the company’s stock valued at $25,002,000 after purchasing an additional 83,337 shares during the period. Hedge funds and other institutional investors own 86.64% of the company’s stock.

Okta Price Performance

Shares of Okta stock opened at $147.04 on Thursday. The firm has a market cap of $25.56 billion, a price-to-earnings ratio of 106.55, a P/E/G ratio of 5.31 and a beta of 0.77. Okta, Inc. has a 52-week low of $62.66 and a 52-week high of $157.00. The stock has a 50-day simple moving average of $132.40 and a 200-day simple moving average of $98.73.

Okta (NASDAQ:OKTA) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.85 by $0.06. Okta had a return on equity of 4.15% and a net margin of 8.24%.The business had revenue of $765.00 million during the quarter, compared to analysts’ expectations of $751.84 million. During the same quarter in the previous year, the business posted $0.86 EPS. The firm’s quarterly revenue 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. As a group, equities research analysts predict that Okta, Inc. will post 1.75 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on OKTA shares. Piper Sandler increased their price target on shares of Okta from $82.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Mizuho downgraded shares of Okta from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $110.00 to $125.00 in a research report on Tuesday, June 2nd. Wells Fargo & Company boosted their price objective on shares of Okta from $100.00 to $150.00 and gave the company an “equal weight” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. upped their price objective on shares of Okta from $103.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Finally, Arete Research set a $127.00 target price on shares of Okta and gave the stock a “buy” rating in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Okta currently has a consensus rating of “Moderate Buy” and an average target price of $121.81.

Insider Transactions at Okta

In other Okta news, insider Larissa Schwartz sold 2,463 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $120.00, for a total value of $295,560.00. Following the completion of the sale, the insider directly owned 25,241 shares of the company’s stock, valued at $3,028,920. The trade was a 8.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 65,000 shares of the stock in a transaction on Monday, June 8th. The stock was 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 167,847 shares of company stock valued at $22,039,842. 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.