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

SG Americas Securities LLC reduced its stake in Okta, Inc. (NASDAQ:OKTA) by 12.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 52,906 shares of the company’s stock after selling 7,831 shares during the quarter. SG Americas Securities LLC’s holdings in Okta were worth $4,575,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Promus Capital LLC acquired a new stake in shares of Okta in the second quarter worth $27,000. Root Financial Partners LLC acquired a new position in Okta in the 3rd quarter valued at $26,000. Elevation Wealth Partners LLC grew its stake in Okta by 825.0% in the 4th quarter. Elevation Wealth Partners LLC now owns 296 shares of the company’s stock valued at $26,000 after buying an additional 264 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in Okta in the 3rd quarter worth $34,000. Finally, Westside Investment Management Inc. raised its holdings in Okta by 86.9% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock worth $38,000 after acquiring an additional 193 shares during the period. Institutional investors own 86.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on OKTA. Morgan Stanley decreased their price target on shares of Okta from $110.00 to $101.00 and set an “overweight” rating for the company in a report on Thursday, March 5th. Oppenheimer cut their price objective on Okta from $120.00 to $110.00 and set an “outperform” rating for the company in a research report on Thursday, March 5th. Wall Street Zen upgraded Okta from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Citigroup lowered their target price on Okta from $100.00 to $87.00 and set a “neutral” rating on the stock in a report on Thursday, March 5th. Finally, Truist Financial dropped their price target on Okta from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Twenty-six equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Okta presently has a consensus rating of “Moderate Buy” and an average target price of $103.25.

Insider Activity at Okta

In related news, insider Larissa Schwartz sold 1,836 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $79.89, for a total value of $146,678.04. Following the completion of the transaction, the insider directly owned 79,422 shares of the company’s stock, valued at $6,345,023.58. This trade represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Jonathan James Addison sold 23,304 shares of Okta stock in a transaction 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 sale, the executive owned 4,364 shares in the company, valued at $339,475.56. This represents a 84.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 69,365 shares of company stock worth $5,696,938 in the last three months. Company insiders own 5.68% of the company’s stock.

Okta Stock Performance

Shares of OKTA opened at $79.14 on Thursday. The company has a 50-day simple moving average of $80.96 and a 200-day simple moving average of $85.73. The firm has a market capitalization of $14.00 billion, a P/E ratio of 60.41, a P/E/G ratio of 3.08 and a beta of 0.79. Okta, Inc. has a 52 week low of $68.77 and a 52 week high of $127.57.

Okta (NASDAQ:OKTA) last released its earnings results on Wednesday, March 4th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. Okta had a return on equity of 4.18% and a net margin of 8.05%.The business had revenue of $761.00 million for the quarter, compared to the consensus estimate of $749.87 million. During the same period last year, the business earned $0.78 earnings per share. The firm’s revenue for the quarter 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. As a group, equities analysts forecast that Okta, Inc. will post 0.42 earnings per share for the current year.

Okta declared that its board has approved a share repurchase program on Monday, January 5th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.