SBI Securities Co. Ltd. Sells 10,429 Shares of Okta, Inc. $OKTA

SBI Securities Co. Ltd. reduced its position in shares of Okta, Inc. (NASDAQ:OKTA) by 27.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,254 shares of the company’s stock after selling 10,429 shares during the period. SBI Securities Co. Ltd.’s holdings in Okta were worth $2,443,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Root Financial Partners LLC bought a new position in Okta in the 3rd quarter worth about $26,000. Elevation Wealth Partners LLC raised its holdings in shares of 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 acquiring an additional 264 shares in the last quarter. Torren Management LLC bought a new stake in shares of Okta during the 4th quarter valued at about $32,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Okta during the 3rd quarter valued at about $34,000. Finally, Westside Investment Management Inc. grew its holdings in shares of Okta by 86.9% during the third quarter. Westside Investment Management Inc. now owns 415 shares of the company’s stock worth $38,000 after purchasing an additional 193 shares in the last quarter. Institutional investors own 86.64% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Todd Mckinnon sold 11,263 shares of the stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $81.01, for a total transaction of $912,415.63. Following the completion of the sale, the chief executive officer directly owned 97,083 shares in the company, valued at $7,864,693.83. This represents a 10.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Jonathan James Addison sold 23,304 shares of Okta stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $77.79, for a total value of $1,812,818.16. Following the completion of the transaction, the executive directly owned 4,364 shares in the company, valued at $339,475.56. This trade represents a 84.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 63,843 shares of company stock valued at $5,071,889 over the last three months. 5.68% of the stock is currently owned by company insiders.

Okta Price Performance

NASDAQ:OKTA opened at $77.40 on Thursday. The company has a market capitalization of $13.69 billion, a price-to-earnings ratio of 59.08, a PEG ratio of 3.03 and a beta of 0.59. The business has a 50 day moving average of $75.87 and a 200 day moving average of $82.91. Okta, Inc. has a 1-year low of $62.66 and a 1-year high of $127.57.

Okta (NASDAQ:OKTA) last posted its quarterly earnings results on Wednesday, March 4th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.85 by $0.05. The firm had revenue of $761.00 million for the quarter, compared to the consensus estimate of $749.87 million. Okta had a net margin of 8.05% and a return on equity of 4.18%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. 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, sell-side analysts anticipate that Okta, Inc. will post 1.61 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. UBS Group set a $85.00 price objective on shares of Okta in a research report on Thursday, April 16th. Mizuho cut their price target on shares of Okta from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. Wolfe Research began coverage on shares of Okta in a report on Thursday, April 16th. They issued an “outperform” rating on the stock. KeyCorp lowered their price objective on shares of Okta from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 15th. Finally, BTIG Research downgraded shares of Okta from a “buy” rating to a “hold” rating in a report on Thursday, April 16th. Twenty-eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.89.

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.