Okta, Inc. $OKTA Stock Position Boosted by Kestra Advisory Services LLC

Kestra Advisory Services LLC raised its position in Okta, Inc. (NASDAQ:OKTA) by 25.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,698 shares of the company’s stock after purchasing an additional 2,997 shares during the quarter. Kestra Advisory Services LLC’s holdings in Okta were worth $3,073,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of OKTA. Bank of America Corp DE boosted its position in Okta by 0.4% during the 1st quarter. Bank of America Corp DE now owns 1,496,896 shares of the company’s stock worth $117,821,000 after acquiring an additional 6,533 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Okta by 192.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 487,202 shares of the company’s stock valued at $101,879,000 after purchasing an additional 320,849 shares during the last quarter. Senvest Management LLC raised its holdings in shares of Okta by 54.5% in the first quarter. Senvest Management LLC now owns 830,515 shares of the company’s stock valued at $65,370,000 after purchasing an additional 292,900 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of Okta by 114.3% in the first quarter. Quantinno Capital Management LP now owns 746,009 shares of the company’s stock worth $58,718,000 after purchasing an additional 397,951 shares in the last quarter. Finally, Amundi lifted its position in shares of Okta by 19.7% in the first quarter. Amundi now owns 609,207 shares of the company’s stock worth $47,951,000 after purchasing an additional 100,252 shares in the last quarter. Institutional investors and hedge funds own 86.64% of the company’s stock.

Okta Price Performance

NASDAQ OKTA traded up $0.33 during trading on Friday, reaching $182.87. 2,426,498 shares of the company’s stock were exchanged, compared to its average volume of 5,137,857. The business has a 50 day moving average price of $198.10 and a 200-day moving average price of $129.17. The stock has a market capitalization of $31.97 billion, a P/E ratio of 110.16, a PEG ratio of 5.68 and a beta of 0.74. Okta, Inc. has a fifty-two week low of $62.66 and a fifty-two week high of $235.00.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Wednesday, August 26th. The company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.09. The company had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $793.00 million. Okta had a return on equity of 4.50% and a net margin of 9.63%. The business’s revenue was up 10.6% on a year-over-year basis. During the same period last year, the firm posted $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, analysts forecast that Okta, Inc. will post 1.92 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on OKTA. Mizuho raised their target price on shares of Okta from $165.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, September 24th. Wells Fargo & Company increased their price objective on shares of Okta from $200.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, September 24th. BTIG Research restated a “buy” rating and issued a $219.00 price objective on shares of Okta in a report on Thursday, September 24th. Susquehanna raised their price objective on Okta from $110.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, August 28th. Finally, Stifel Nicolaus lifted their target price on Okta from $180.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday, September 24th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.38.

Insiders Place Their Bets

In other news, insider Eric Kelleher sold 6,395 shares of the firm’s stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $183.58, for a total transaction of $1,173,994.10. Following the completion of the sale, the insider owned 18,668 shares in the company, valued at approximately $3,427,071.44. This trade represents a 25.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Brett Tighe sold 41,251 shares of Okta stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $162.44, for a total transaction of $6,700,812.44. Following the sale, the chief financial officer directly owned 7,693 shares of the company’s stock, valued at $1,249,650.92. The trade was a 84.28% decrease in their position. 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. Insiders sold a total of 137,766 shares of company stock valued at $23,927,112 over the last ninety days. 4.61% of the stock is currently owned by company insiders.

Okta Profile

Okta, Inc. provides cloud-based identity and access management services. Its platform helps organizations manage how employees, customers, partners and other users sign in to applications and access digital resources. Okta’s products include single sign-on, multifactor authentication, identity governance and user lifecycle management. Through Auth0, which Okta acquired in 2021, the company also offers tools that developers can use to add identity and authentication features to customer-facing applications.