Okta, Inc. $OKTA Shares Newly Purchased by Western Financial Corp CA

Western Financial Corp CA bought a new stake in Okta, Inc. (NASDAQ:OKTA) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 8,003 shares of the company’s stock, valued at approximately $1,673,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of OKTA. Allspring Global Investments Holdings LLC increased its position in Okta by 71.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,553,091 shares of the company’s stock worth $281,209,000 after buying an additional 1,485,963 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in Okta by 28.4% in the first quarter. Pictet Asset Management Holding SA now owns 2,490,681 shares of the company’s stock valued at $195,844,000 after buying an additional 550,328 shares during the period. Quantinno Capital Management LP raised its stake in Okta by 114.3% in the first quarter. Quantinno Capital Management LP now owns 746,009 shares of the company’s stock valued at $58,718,000 after buying an additional 397,951 shares during the period. Swedbank AB lifted its position in shares of Okta by 21.9% in the first quarter. Swedbank AB now owns 2,216,588 shares of the company’s stock valued at $174,468,000 after buying an additional 397,507 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Okta by 641.7% in the first quarter. SG Americas Securities LLC now owns 392,421 shares of the company’s stock valued at $30,887,000 after buying an additional 339,515 shares during the last quarter. Institutional investors own 86.64% of the company’s stock.

Insider Activity at Okta

In other Okta news, CFO Brett Tighe sold 41,251 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $162.44, for a total value of $6,700,812.44. Following the transaction, the chief financial officer directly owned 7,693 shares of the company’s stock, valued at $1,249,650.92. This represents a 84.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Todd McKinnon sold 48,822 shares of the stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $193.48, for a total value of $9,446,080.56. Following the transaction, the chief executive officer owned 44,029 shares in the company, valued at $8,518,730.92. The trade was a 52.58% 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. Insiders sold 137,766 shares of company stock worth $23,927,112 in the last ninety days. 4.61% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on OKTA shares. Oppenheimer lifted their target price on Okta from $190.00 to $227.00 and gave the stock an “outperform” rating in a research note on Thursday, September 24th. Wells Fargo & Company increased their price target on Okta from $200.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, September 24th. KeyCorp set a $240.00 price target on Okta and gave the company an “overweight” rating in a report on Thursday, September 24th. HC Wainwright assumed coverage on Okta in a report on Monday, July 6th. They set a “buy” rating for the company. Finally, Truist Financial lifted their price objective on shares of Okta from $200.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Okta presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.10.

Okta Trading Down 6.5%

Shares of NASDAQ:OKTA traded down $14.62 during trading on Wednesday, reaching $211.91. 4,631,692 shares of the stock were exchanged, compared to its average volume of 3,584,352. Okta, Inc. has a 12 month low of $62.66 and a 12 month high of $235.00. The stock has a 50-day moving average price of $176.97 and a 200-day moving average price of $131.71. The firm has a market cap of $37.05 billion, a PE ratio of 127.66, a PEG ratio of 7.06 and a beta of 0.73.

Okta (NASDAQ:OKTA) last announced its earnings results on Wednesday, August 26th. The company reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. The company had revenue of $805.00 million for the quarter, compared to analyst estimates of $793.00 million. Okta had a return on equity of 4.50% and a net margin of 9.63%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 earnings per share. Okta has set its FY 2027 guidance at 3.900-3.940 EPS and its Q3 2027 guidance at 0.920-0.940 EPS. On average, sell-side analysts expect that Okta, Inc. will post 1.92 earnings per share for the current fiscal year.

Okta Profile

Okta, Inc is an identity and access management company that helps organizations secure and manage access to applications, systems, devices and digital services. Its platform is designed to support employees, contractors, partners, customers and other users across cloud-based and on-premises environments.

Okta’s products include single sign-on, multifactor authentication, lifecycle management, identity governance, privileged access and identity threat protection. Through its Workforce Identity Cloud and Customer Identity Cloud, the company provides tools for workforce access management and for integrating authentication and authorization capabilities into customer-facing applications.